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SMIRA
INFORM REPORT
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Report No. : |
497292 |
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Report Date : |
12.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ABANTI COLOUR TEX LIMITED |
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Registered Office : |
House# 7, Road# 4, Block#
K, Baridhara, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
30.12.1994 |
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Com. Reg. No.: |
C-38867
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Dyeing, Embroidery, Printing, Exporter and Importer of T-Shirt, Polo Shirt, Tank Top, Knitted Jacket, Legging Others |
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No. of Employees : |
6500 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
BANGLADESH - ECONOMIC OVERVIEW
Bangladesh's economy has grown roughly 6% per year since 1996 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services sector, almost half of Bangladeshis are employed in the agriculture sector, with rice as the single-most-important product.
Garment exports, the backbone of Bangladesh's industrial sector, accounted for more than 80% of total exports and were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.
The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.
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Source : CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Abanti Colour Tex
Limited |
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Head Office |
: |
House# 7, Road# 4,
Block# K, Baridhara, Dhaka-1212, Bangladesh
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Tel No |
: |
88-02-9883945, 9883875, 8415126 |
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Fax No |
: |
88-02-8412560 |
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E-mail |
: |
info@abanti.net, admin@abanti.net,
sunny@abanti.net |
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Website |
: |
www.cronygroupbd.com |
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Date/ Year of Incorporation |
: |
30.12.1994 |
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Incorporation No. |
: |
C-38867 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms
City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
Other Registry & Certification Details
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Import
Registration Certificate No |
: |
Ba-123818 |
Date of Registration |
: |
N/A |
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Issuing
Authority |
: |
Chief Controller of Import & Export (CCIE) |
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Export
Registration certificate No |
: |
Ra-30186 |
Date of Registration |
: |
N/A |
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Issuing
Authority |
: |
Chief Controller of Import
& Export (CCIE) |
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FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
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30th June’2016 |
BDT 1233.00 Million |
BDT 2905.25 Million |
BDT 71.90 Million |
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30th June’2017 |
BDT 1899.00 Million |
BDT 2987.60 Million |
BDT 112.90 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Md. Rubel Ahmed |
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Designation |
: |
Manager (Commercial) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
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House# 7, Road# 4,
Block# K, Baridhara, Dhaka-1212, Bangladesh
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Tel No |
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88-02-9883945, 9883875, 8415126 |
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Fax No |
: |
88-02-8412560 |
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E-mail |
: |
info@abanti.net, admin@abanti.net,
sunny@abanti.net |
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Website |
: |
www.cronygroupbd.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
3200 |
Sq. ft. |
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Type of
Office : |
: Commercial Office Bldg. |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
Ö |
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Factory: |
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Address |
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Plot# S.A.-646,
Shashangaon, Enayetnagar, Fatulla, Narayanganj-1400, Bangladesh. |
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Tel No |
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88-02-47670084, 47670404,
47671126 |
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Fax No |
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Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
392674 |
Sq. ft. |
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Branch: |
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Address |
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Nil |
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Tel No |
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Nil |
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Fax No |
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Nil |
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Employee: |
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No. of
Employees |
In Office |
: |
72 |
In Factory |
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6428 |
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In Branch: |
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N/A |
Total |
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6500 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mr. A.H. Aslam Sunny |
2453500 |
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Mrs. Hosne Ara |
1046500 |
DIRECTORS
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Name |
Designation |
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Mr. A.H. Aslam Sunny |
Managing Director |
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Mrs. Hosne Ara |
Director |
MANAGEMENT
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Name |
: |
Mr. A.H. Aslam Sunny |
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Job Description |
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Managing Director |
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Nationality |
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Bangladeshi. |
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Email address |
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sunny@abanti.net |
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Other details |
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N/A |
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Name |
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Mr. Nizam Uddin Mondal |
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Job Description |
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General Manager
(Marketing) |
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Nationality |
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Bangladeshi. |
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Email address |
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rana@abanti.net |
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Other details |
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N/A |
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Name |
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Mr. Md. Rubel Ahmed |
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Job Description |
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Manager (Commercial) |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr. Goutom Kumer Malik |
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Job Description |
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Deputy General Manger
(Admin, HR & Compliance) |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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88-01755531201 |
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Name |
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Mr. Md. Moniruzzaman |
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Job Description |
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Assistant Manager (Commercial) |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
: |
N/A |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Dyeing |
Ö |
Embroidery |
Ö |
Distributor |
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Exporter |
Ö |
Importer |
Ö |
Printing |
Ö |
Others |
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Range of
Products: |
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Products |
: |
T-Shirt, Polo Shirt, Tank Top, Knitted
Jacket, Legging Others |
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Production
Capacity |
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Knitting 35 Ton/Day Dyeing 30 Ton/Day Printing 120000 Pcs/Day Embroidery 110 Head Garments 135000 Pcs/Day |
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Last Year
Production |
: |
Do. |
Trading
Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling
Terms : |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
DETAILED DATA
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Trade Reference & Related
Parties |
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Overseas Clients |
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Aldi MGB Rewe H&M Gemo KIABI Mangoo Tom Tailor Okaidi-Obaibi |
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Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
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Local Suppliers |
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N/A |
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Trade Markets |
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Exports(Country) |
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Europe, USA |
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Imports(Country) |
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China, India |
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Brand Name |
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N/A |
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Certified |
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ISO
9001:2008 |
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Name of Auditors |
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N/A |
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Operation Status |
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Active |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 500 Million |
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Paid-up
Capital |
: |
BDT 350000000 |
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No. of
Shares |
: |
3500000 |
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Share
Value |
: |
BDT 100.00 Each |
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Main
Assets |
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BDT 2987.60 Million |
FINANCIAL STATEMENT- DETAILED
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Summary information has been given. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
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BD Packaging Ltd. Crony Fashion Ltd. Crony Logistic Ltd. Crony Apparels Ltd.
Crony Knit Wear Ltd. Crony Tex Sweater Ltd S. S. Cotton Fabrics Ltd. Crony Tex Sourcing Ltd. Crony Printing & Embroidery Ltd. |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Crony Group. |
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Member |
: |
Narayangonj Chamber of Commerce &
Industry Bangladesh Knitwear Manufacturer &
Exporters Association. |
BANKING
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Bank Name |
: |
Rupali Bank Ltd. |
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Bank Address |
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Narayangonj Branch Fatullah Bazar P.O :
Fatullah , Narayangonj, Bangladesh Tel: 88-02-7670155 |
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Bank Name |
: |
Duch Bangla Bank Ltd |
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Bank Address |
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Narayangonj Branch 45, S.M. Maleh Road,
Tanbazar, Narayangonj-1400, Bangladesh. Tel: 88-02-7641134,
7640752, 7643828 Fax: 88-02-9712200 |
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Bank Name |
: |
Exim Bank Ltd |
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Bank Address |
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Narayangonj Branch Sattar Tower, 50, SM
Maleh Road, Tanbazar, Narayangonj, Bangladesh. Tel: 88-02-7640213,
7640214 Fax: 88-02-7644414 |
ADVERSE DATA MONITORING
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Dishonored
Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record Found |
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Adverse
Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
|
Our Representative Visited the subject company address
at House # 7, Road # 4, Block # K, Baridhara, Dhaka-1212, Bangladesh. It is
Situated at Residential area. |
GENERAL COMMENTS
|
The subject company
maintains acceptable business volume. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 65.08 |
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|
1 |
INR 89.85 |
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Euro |
1 |
INR 80.16 |
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BDT |
1 |
INR 0.78 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.