MIRA INFORM REPORT

Report No. :	497300
Report Date :	16.03.2018

IDENTIFICATION DETAILS

Name :	CONFIDENCE KNITWEAR LTD.
Registered Office :	House# 153 (3^rdFloor), Road# 22, New DOHS, Mohakhali, Dhaka-1206
Country :	Bangladesh
Financials (as on) :	30.06.2017 (Financials- Summary)
Date of Incorporation :	12.03.2008
Com. Reg. No.:	C-70294
Legal Form :	Private Company
Line of Business :	Manufacturer and Exporter of Knit Item.
No. of Employees :	1000

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

COMPANY NAME

CONFIDENCE KNITWEAR LTD.

EXECUTIVE SUMMARY

IDENTIFICATION DETAILS
Correct company Name	:	Confidence Knitwear Ltd.
Head Office	:	House# 153 (3^rdFloor), Road# 22, New DOHS, Mohakhali, Dhaka-1206, Bangladesh.
Tel No	:	88-02-9886018, 9886136
Fax No	:	N/A
E-mail	:	abed@cklbd.net, kanchan@cklbd.net
Website	:	N/A
Date/ Year of Incorporation	:	12.03.2008
Incorporation No.	:	C-70294
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 688 Million	BDT 401.20 Million	BDT 26.07 Million
30^th June’2017	BDT 791 Million	BDT 428.40 Million	BDT 35.38 Million

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Md. Majhar Hossain
Designation	:	Manager (Accounts)
Contract No	:	88-01730725512

Locations Details
Operating Address	:	House# 153 (3^rdFloor), Road# 22, New DOHS, Mohakhali, Dhaka-1206, Bangladesh.
Tel No	:	88-02-9886018, 9886136
Fax No	:	N/A
E-mail	:	abed@cklbd.net, kanchan@cklbd.net
Website	:	N/A

Location :

: Owned

Rented

Ö

Leased

Area

1200

Sq. ft.

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

Factory:
Address	:	Dhanua, Nayanpur, Sreepur, Gazipur, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A

Employee:
No. of Employees	In Office	:	40	In Factory	:	960
	In Branch:	:	-	Total	:	1000
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Md. Bahauddin	3000
Mr. Md. Kafaeth Ullah	16000
Mr. Md. Kamruzzaman	7000
Mrs. Hosne Ara Akhter	5000
Mr. Md. Taufiqul Islam Mazumder	3000
Mr. Md. Rafiqul Islam Mazumder	3000
Mr. Md. Shahidul Islam Mazumder	3000
Mr. Md. Mhabubul Islam Mazumder	1750
Ms. Rashida Aktar Mozumder	1750
Mr. Md. Atiqur Rhaman	2500
Ms. Morshada Aktar	1000
Ms. Mahbuba Aktar	1000
Ms. Shaheen Aktar	1000
Ms. Rukshana Aktar	1000

DIRECTORS

Name	Designation
Mr. Md. Bahauddin	Chairman
Mr. Md. Kafaeth Ullah	Managing Director
Mrs. Hosne Ara Akhter	Director
Mr. Md. Taufiqul Islam Mazumder	Director
Mr. Md. Rafiqul Islam Mazumder	Director
Mr. Md. Shahidul Islam Mazumder	Director
Mr. Md. Kamruzzaman	Director

MANAGEMENT

Name	:	Mr. Md. Kafaeth Ullah
Job Description	:	Managing Director
Nationality	:	Bangladeshi
Email address	:	abed@cklbd.net
Other details	:	N/A
Name	:	Mr. Md. Taufiqul Islam Mazumder
Job Description	:	Director
Nationality	:	Bangladeshi
Email address	:	kanchan@cklbd.net
Other details	:	88-01966226622

Name	:	Mr. Md. Majhar Hossain
Job Description	:	Manager ( Accounts)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01730725512

Name	:	Borhan Uddin Ahmed
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

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

Range of Products:
Products	:	Knit Item.
Production Capacity	:	20000 Pcs/Day
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

Ö

Cash

Others

Credit :

30 days

60 days

Ö

90 days

days

Trade Reference & Related Parties

:

Overseas Clients

:

N/A

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

Trade Markets

:

Exports(Country)

:

Europe

Imports(Country)

:

India, China

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Knitwear Manufacturers & Exports Association

CAPITAL STRUCTURE

Authorized Capital	:	BDT 30 Million
Paid-up Capital	:	BDT 5000000
No. of Shares	:	50000
Share Value	:	BDT 100.00 Each
Main Assets	:	BDT 428.40 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	Confidence Thread and Accessories (Pvt.) Ltd.
Subsidiary	:	N/A
Name of The Group	:	N/A

BANKING

Bank Name	:	Southeast Bank Ltd.
Bank Address	:	Motijheel Branch 125, Motijheel C/A (1st Floor), Thana-Motijheel, Dhaka-1000, Bangladesh Tel: 88-02-9567286, 9567202, 9567303, 9567262 Fax: 88-02-9567701

Bank Name	:	Social Islami Bank Ltd
Bank Address	:	Moulvibazar Branch 183 Shamsher Nagar Road, Chowmohana, Moulvibazar, 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 House # 441, (3^r Floor) Road # 30, New DOHS, Mohakhali, Dhaka-1206, Bangladesh. It is Situated at Semi-commercial area.

GENERAL COMMENTS

The subject company is a well-known reputed company in Bangladesh. It is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.94
UK Pound	1	INR 90.73
Euro	1	INR 80.32
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 :	NIT

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.