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MIRA
INFORM REPORT
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Report No. : |
505358 |
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Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
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Name : |
GARMENTS EXPORT VILLAGE LIMITED |
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Registered Office : |
Maa Tower, 128 K.B.M. Road, Tongi I/A, Gazipur |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 (Summarized) |
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Date of Incorporation : |
13.10.2003 |
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Com. Reg. No.: |
C-50753 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer Embroidery Printing Distributor Exporter Importer and Washing of Shirts, Pants, Trouser, Sweater |
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No. of Employees : |
2663 |
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 |
: |
Garments Export
Village Limited |
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Head Office |
: |
Maa Tower, 128 K.B.M. Road, Tongi I/A, Gazipur,
Bangladesh |
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Tel No |
: |
880-02
9814200- 6 |
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Fax No |
: |
88-02-9813181 |
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E-mail |
: |
info@amtranet.com |
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Website |
: |
www.amtranet.com |
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Date/ Year of Incorporation |
: |
13.10.2003 |
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Incorporation
No. |
: |
C-50753 |
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Legal Form (General) |
: |
Public Listed
Co Public (but not
listed) Private Co
State-owned Co Sole Proprietorship 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 |
Other Registry & Certification Details
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Organization
Name |
: |
Bangladesh
Garments Manufacturer & Exporters Association |
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Membership
No |
: |
Nil |
FINANCIALS- SUMMARY
|
Year |
Turnover/ Sales |
Assets |
Income |
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30th
June’2016 |
BDT 1943 Million |
BDT 155.90 Million |
BDT 59.73 Million |
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30th
June’2017 |
BDT 2521 Million |
BDT 281.70 Million |
BDT 74.50 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Hafijul
Islam (Tanvir) |
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Designation |
: |
Senior
Merchandiser |
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Contract No |
: |
88-01844053742 |
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Locations Details |
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Operating Address |
: |
Maa Tower, 128 K.B.M. Road, Tongi I/A, Gazipur,
Bangladesh |
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Tel No |
: |
880-02
9814200- 6 |
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Fax No |
: |
88-02-9813181 |
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E-mail |
: |
info@amtranet.com |
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Website |
: |
www.amtranet.com |
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Location
: |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
3500 |
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 |
Ö |
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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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Maa Tower (8th Floor), 128 KBM Road,
Tongi I/A, Tongi, Gazipur- 1710, Bangladesh |
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Tel No |
: |
880-02
9814200- 6 |
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Fax No |
: |
88-02-9813181 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
55000 |
Sq. ft. |
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Branch: |
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Address |
: |
Room-1317,
Beverly Commercial Centre, 87, Chantham Road South, Tsim Sha Tsui, Kowloon ,
Hong Kong , Singapor |
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Tel No |
: |
852 21997648 |
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Fax No |
: |
852 31703605 |
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Employee: |
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No.
of Employees |
In Office |
: |
30 |
In Factory |
: |
2633 |
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In Branch: |
: |
- |
Total |
: |
2663 |
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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.K.M. Badiul Alam |
576593 |
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Mrs. Shahida Alam |
378407 |
DIRECTORS
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Name |
Designation |
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Mr. A.K.M. Badiul Alam |
Chairman |
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Mrs. Shahida Alam |
Managing Director |
MANAGEMENT
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Name |
: |
Mrs. Shahida
Alam |
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Job Description |
: |
Managing
Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Sadek Ahmed
(Ripon) |
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Job Description |
: |
Manager
(Import) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
ripon@amtranet.com |
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Other details |
: |
88-01817291770 |
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Name |
: |
Mr. Imrul
Kayes (Sujon) |
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Job Description |
: |
Manager (H.R
& Compliance) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01819234713 |
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Name |
: |
Mr. Hafijul
Islam (Tanvir) |
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Job Description |
: |
Senior
Merchandiser |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01844053742 |
BUSINESS OPERATIONS
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Nature
of Activity : |
Manufacturer |
Ö |
Embroidery |
Ö |
Printing |
Ö |
Distributor |
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Exporter |
Ö |
Importer |
Ö |
Washing |
Ö |
Others |
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Range
of Products: |
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Products |
: |
Shirts, Pants, Trouser,
Sweater |
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Production
Capacity |
: |
Embroidery-10,000 Pcs Per
Day Printing-10,000 Pcs Per
Day Washing-7000 – 10,000 Pcs
Per day Jacquard Knitting-70,000 Pcs
Per Month Wrinkle Free Post
Cured-1,00,000 Pcs Per Month Dress and Formal
Trouser-80,000 Pcs Per Month Sweater-1,50,000 Pcs. Per
Month Dress and Pre-Curing
Shirt-1,20,000 Pcs. Per Month Chino Pant-1,00,000 Pcs per
Month |
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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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|||
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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 |
: |
Overseas Clients |
: |
Manifattura Corona SPA Tessival
Kiabi
Quelle+Neckermann
Grouppocoin
Dorsey
Auchan
Carrefour Haggar |
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Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
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Local Suppliers |
: |
N/A |
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Trade Markets |
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Exports(Country) |
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Europe, USA, Canada |
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Imports(Country) |
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China, India, Thailand |
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Brand Name |
: |
N/A |
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Certified |
: |
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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Active |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 100 Million |
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Paid-up
Capital |
: |
BDT 95500000 |
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No.
of Shares |
: |
955000 |
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Share
Value |
: |
BDT 100.00 Each |
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Main
Assets |
: |
BDT 281.70 Million |
FINANCIAL STATEMENT- DETAILED
|
Summary information is given. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Name of The
Group |
: |
Amtranet Group |
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Subsidiary |
: |
Nil |
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Sister Concerns |
: |
Shirt Mine Ltd. Cordial Design Ltd. Greystone Sweater Ltd. Orbital Accessories Ltd. Power Vantage Wear Ltd. |
BANKING
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Bank Name |
: |
Exim Bank
Ltd. |
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Bank Address |
: |
Gulshan
Branch 75, Gulshan
Avenue, CWSA-10, Gulshan, Dhaka-1212,
Bangladesh Phone:88-02-
9862262, 9886296 Fax:
880-2-8818703 |
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Bank Name |
: |
Bank Asia
Ltd. |
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Bank Address |
: |
Uttara Branch House # 79A,
Road #07, Uttara Model Town, Dhaka-1212, Bangladesh Tel:
88-02-8957427 - 9 Fax:
880-2-8957431 |
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 Head Office which is situated at Maa Tower, 128 K.B.M. Road, Tongi
I/A, Gazipur, Bangladesh. It is Situated at Industrial 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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.78 |
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|
1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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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 : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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 |
|
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.