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MIRA INFORM REPORT
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Report No. : |
496789 |
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Report Date : |
15.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SULTAN HABIBA FABRICS MILLS LTD |
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Registered Office : |
Saad Musa Group, Khaja Road, Kulgaon, Jalalabad,
Chittagong-4214. |
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Country : |
Bangladesh |
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Date of Incorporation : |
28.06.2010 |
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Com. Reg. No.: |
CH-7798 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Importer and Exporter of Knit Fabrics. |
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No. of Employees : |
12 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
: |
Sultan Habiba Fabrics Mills Ltd. |
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Head Office |
: |
Saad Musa Group, Khaja Road, Kulgaon, Jalalabad,
Chittagong-4214, Bangladesh. |
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Tel No |
: |
88-031-683951-3, 681227 |
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Fax No |
: |
88-031-683954 |
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E-mail |
: |
info@saadmusa.com |
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Website |
: |
www.saadmusagroup.com |
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Date/ Year of Incorporation |
: |
28.06.2010 |
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Incorporation No. |
: |
CH-7798 |
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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 |
FINANCIALS-
SUMMARY
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|||
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Year |
Turnover/ Sales |
Assets |
Income/ (Loss) |
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30th June, 2017 |
N/A |
N/A |
N/A |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr.
md. Razzak |
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Designation |
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General
Manager (Admin) |
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Contract No |
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88-01819644667 |
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Locations Details |
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Operating Address |
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Saad Musa Group, Khaja Road, Kulgaon, Jalalabad,
Chittagong-4214, Bangladesh. |
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Tel No |
: |
88-031-683951-3, 681227 |
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Fax No |
: |
88-031-683954 |
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E-mail |
: |
info@saadmusa.com |
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Website |
: |
www.saadmusagroup.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
3600 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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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. |
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Factory: |
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Address |
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Saad Musa Industrial Park,
Anowara, Borkal Road, Chittagong, Bangladesh |
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Tel No |
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88-01788886790 |
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Fax No |
: |
Nil |
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Branches: |
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Address |
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245, Hathajari Road, Bibirhat,
Chittagong - 4211, Bangladesh |
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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 |
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5 |
In Factory |
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7 |
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In Branch |
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Nil |
Total
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12 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No.
of Share |
Country |
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Mr. Alhaj Muhammad Mohsin |
550000 |
Bangladeshi |
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Mrs. Alhaj Samima Nargis |
445000 |
Bangladeshi |
DIRECTORS
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1.
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Name |
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Mrs.
Alhaj Samima Nargis |
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Designation |
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Chairman |
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Nationality |
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Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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2.
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Name |
: |
Mr.
Alhaj Muhammad Mohsin |
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Designation |
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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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N/A |
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Other details |
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N/A |
MANAGEMENT
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Name |
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Mr.
Alhaj Muhammad Mohsin |
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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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mohsin@saadmusa.com |
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Other details |
: |
N/A |
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Name |
: |
Mr.
md. Razzak |
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Job Description |
: |
General
Manager (Admin) |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01819644667 |
BUSINESS
OPERATIONS
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Nature of Activity
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Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
Ö |
Services
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Others |
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Range
of Products: |
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Products |
: |
Knit Fabrics. |
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Production Capacity |
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N/A |
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Last
Year Production |
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N/A |
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Import
Products |
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N/A |
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Export
Products |
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N/A |
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 |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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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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Nil |
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Local Clients |
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Nil |
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Overseas Suppliers |
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Nil |
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Local Suppliers |
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Nil |
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Trade Markets |
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Exports(Country) |
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Europe |
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Imports(Country) |
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India, China |
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Brand Name |
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N/A |
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Certified |
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N/A |
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Name of Auditors |
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N/A |
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Operation Status |
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Under Construction |
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CAPITAL
STRUCTURE
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Authorized Capital |
: |
BDT 250 Million |
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Paid-up Capital |
: |
BDT 99500000 |
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No.
of Shares |
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BDT 995000 |
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Share
Value |
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BDT 100.00 Each |
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Main Assets |
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N/A |
FINANCIAL
STATEMENT- DETAILED
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The subject company didn’t
provide any financial document to local registry office |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Name of The Group |
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Saad Musa Group of Industries |
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Name of Mother Company |
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Nil |
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Subsidiary |
: |
Nil |
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Sister Concerns |
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Desh Computer Marss Automobiles Saad Musa Logistics Karnafuli Jute Trading Saad Musa City Center Saad Musa Fabrics Ltd Saad Musa Industrial Park Ahmadi Oil Mills Limited Shade Developers Limited Crescent Industries Limited Chittagong Fibre Boards Ltd Crescent Park Neighbor Hood Saad Musa Properties Limited Al- Mustafa Industries Limited Rokeya Spinning Mills Limited Saima Samira Textile Mills
Limited Mahmud Sajid Cotton Mills
Limited Saad Musa Hometex &
Clothing Ltd M.A. Rahaman Dyeing Industry
Ltd Saad Musa Housing Complex
limited Emdad Etima Spinning Mills
Limited Hasni Vanaspati Manufacturing
Company Limited |
BANKING
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Bank Name |
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Sonali
Bank Limited |
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Bank Address |
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Agrabad Branch Sheik Mujib Road, Chittagong,
Bangladesh. Tel: 88-031-724446,716360,
721314 |
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Bank Name |
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Janata Bank Ltd. |
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Bank Address |
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Agrabad Branch 27, Agrabad C/A (5th floor),
SK. Mujib Road, Chittagong, Bangladesh Tel: 88-031-724583, 724593,
726564 |
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Bank Name |
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Rupali Bank Ltd |
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Bank Address |
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Agrabad Branch Agrabad, Chittagong, Bangladesh Tel: 88-031-723959 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
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No Record Found
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear
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Performance Defaults |
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No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
SITE
VISIT COMMENTARY
|
Our representative visited the subject company Head Office
which is situated at Saad Musa Group, Khaja Road, Kulgaon, Jalalabad,
Chittagong-4214, Bangladesh. Its Commercial Office Area. |
GENERAL
COMMENTS
|
The subject company engaged in Importer, Manufacturer,
Exporter & Distributors which is under construction. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.99 |
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|
1 |
INR 90.83 |
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Euro |
1 |
INR 80.58 |
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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
: |
VIV |
|
|
|
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Report Prepared
by : |
KET |
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.