MIRA INFORM REPORT

Report No. :	497278
Report Date :	12.03.2018

IDENTIFICATION DETAILS

Name :	APS APPARELS LTD
Registered Office :	Khan Tower (9^th,10^th & 11^th Floor), Sonargaon Janapath, Sector # 11, Uttara, Dhaka-1230
Country :	Bangladesh
Financials (as on) :	30.06.2017 (Summarised)
Date of Incorporation :	24.03.1999
Com. Reg. No.:	C-37482
Legal Form :	Private Co
Line of Business :	Subject is engaged in Manufacturer, Exporter and Importer of Ladies Top, T-Shirts, Polo Shirts
No. of Employees :	1400

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Bangladesh	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

IDENTIFICATION DETAILS

Correct company Name	:	Aps Apparels Ltd
Head Office	:	Khan Tower (9^th,10^th & 11^th Floor), Sonargaon Janapath, Sector # 11, Uttara, Dhaka-1230, Bangladesh
Tel No	:	88-02-48954471
Fax No	:	Nil
E-mail	:	info@aps-group.org
Website	:	www.aps-group.org
Date/ Year of Incorporation	:	24.03.1999
Incorporation No.	:	C-37482
Legal Form (General)	:	Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify) ________________
Legal form (Specific)	:	LTD CORP INC CO others (please specify) ________________
Issuing Authority	:	Registrar of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE)

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income
30^th June, 2016	BDT 485 Million	BDT 59.73 Million	BDT 23.35 Million
30^th June, 2017	BDT 634 Million	BDT 68.48 Million	BDT 29.60 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Md. Mustafa
Designation	:	Manager (H.R)
Contract No	:	88-01847081992

Locations Details
Operating Address	:	Khan Tower (9^th, 10^th & 11^th Floor), Sonargaon Janapath, Sector # 11, Uttara, Dhaka-1230, Bangladesh
Tel No	:	88-02-48954471
Fax No	:	Nil
E-mail	:	info@aps-group.org
Website	:	www.aps-group.org

Location :

: Owned

Rented

Ö

Leased

Area

1200

Sq. ft.

Type of Office :	: Commercial Office Bldg.		Semi-commercial office Bldg.
Retail shop		Industrial Park
Business Center		Home Office
Residential Bldg.	Ö

Factory:
Address	:	House# 106, Ward# 06, Baitur Rahmat Jame Mosque Road, East Faidabad, Dakshinkhan, Uttara, Dhaka-1230, Bangladesh.
Tel No	:	88-01811456031
Fax No	:	Nil

Branch (Unit-Dyeing):
Address	:	Kamarganj, Post: Pubail, Gazipur, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	50	In Factory	:	1330
	In Branch:	:	20	Total	:	1400

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	Country
Mr. Md. Ali Mridha	2500	Bangladesh.
Mr. Md. Shamim Reza	2500	Bangladesh.
Mrs. Ena Reza	2500	Bangladesh.
Mr. Md. Hasib Uddin	2500	Bangladesh.

DIRECTORS
Name	:	Mr. Md. Shamim Reza
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	shamimreza@aps-group.org
Other details	:	N/A
Name	:	Ms. Ena Reza
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Md. Hasib Uddin
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	hasib@aps-group.org
Other details	:	N/A
Name	:	Mr. Md. Ali Mridha
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Mr. Md. Shamim Reza
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	shamimreza@aps-group.org
Other details	:	N/A

Name	:	Mr. Nazmul Islam
Job Description	:	Deputy General Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Mustafa
Job Description	:	Manager (H.R)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	88-01847081992

Name	:	Mr. Kamruzzaman
Job Description	:	Head of Accounts
Nationality	:	Bangladeshi
Email address	:	kzaman@aps-group.org
Other details	:	88-01847082737

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor
	Exporter	Ö	Importer	Ö	Services	Others

Range of Products:
Products	:	Ladies Top, T-Shirts, Polo Shirts
Production Capacity	:	390000 Doz. Per year
Last Year Production	:	Do

Trading Terms:

Purchasing Terms:	L/C	Ö	Cash	Others
	Credit :		30 days	60 days	Ö	90 days	days

Selling Terms :	L/C		Cash	Ö	Others
	Credit :	Ö	30 days		60 days	90 days	days

DETAILED DATA
Trade Reference & Related Parties	:	Overseas Clients			:	C&A H&M Wal-Mart Carrefour etc.
		Local Clients			:	N/A
		Overseas Suppliers			:	N/A
		Local Suppliers			:	N/A
Trade Markets	:	Exports(Country)			:	Europe
		Imports(Country)			:	China, India
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active
Member			:	Bangladesh Garments Manufacturer & Exporters Association

CAPITAL STRUCTURE
Authorized Capital	:	BDT 10 Million
Paid-up Capital	:	BDT 1000000
No. of Shares	:	10000
Share Value	:	BDT 100.00 Each
Main Assets	:	BDT 68.48 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group			:	Aps Group
Name of Mother Company			:	Nil
Subsidiary			:	Nil
Sister Concerns			:	Aps Clothing Ltd. Aps Holdings Ltd. Aps Paper Work Ltd. Aps Design Works Ltd. Aps Knit Composite Ltd. Aps Apparels (Dyeing unit) Ltd.
BANKING
Bank Name	:	United Commercial Bank Ltd.
Bank Address	:	Foreign Exchange Branch 20, Dilkusha C/A, Dhaka-1000, Bangladesh

ADVERSE DATA MONITORING
Dishonored Checks	:	No Record Found
Debt	:	No Record Found
Litigation	:	Clear
Performance Defaults	:	No Record Found
Adverse Local Media Coverage/ Adverse Filling History	:	No Record Found

SITE VISIT COMMENTARY

Our representative visited the subject company Head Office which is situated at Khan Tower (9^th, 10^th

& 11th Floor), Sonargaon Janapath, Sector-11, Uttara, Dhaka-1230, Bangladesh. It is situated at

Residential Area.

GENERAL COMMENTS

The subject company is engaged in Manufacturer, Exporter &Importer. It is reputed company in this line of business. We recommended that Credit should proceed with monitor in Small amount-periodical review.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.07
UK Pound	1	INR 89.85
Euro	1	INR 80.85
BDT	1	INR 0.78

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	DNS

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.