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MIRA
INFORM REPORT
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Report No. : |
506528 |
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Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SAJID WASHING AND DYEING LIMITED |
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Registered Office : |
Phoenix Tower (4th Floor), 407, Tejgaon
I/A, Dhaka-1215 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 (Summarized) |
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Date of Incorporation : |
18.11.2003 |
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Com. Reg. No.: |
C-51121 |
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Legal Form : |
Private Co |
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Line of Business : |
Importer, Dyeing and Washing of Garments Dyeing & Washing |
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No. of Employees : |
337 |
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
|
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 |
: |
Sajid
Washing and Dyeing Limited |
|
Head Office |
: |
Phoenix Tower (4th Floor), 407, Tejgaon
I/A, Dhaka-1215, Bangladesh |
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Tel No |
: |
88-02-8170592,
8170593 |
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Fax No |
: |
88-02-8170623 |
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E-mail |
: |
azad@hameemgroup.com |
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Website |
: |
www.hameemgroup.com |
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Date/ Year of Incorporation |
: |
18.11.2003 |
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Incorporation
No. |
: |
C-51121 |
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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) |
FINANCIALS- SUMMARY
|
Year |
Turnover/ Sales |
Assets |
Income |
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30th
June’2016 |
BDT 405 Million |
BDT 39.40 Million |
BDT 20.73 Million |
|
30th
June’2017 |
BDT 459 Million |
BDT 52.63 Million |
BDT 25.80 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Ms. Prinka
Saha Lopa |
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Designation |
: |
Executive
Director (Finance) |
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Contract No |
: |
N/A |
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Locations Details |
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Business Address |
: |
Phoenix Tower (4th Floor), 407, Tejgaon
I/A, Dhaka-1215, Bangladesh |
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Tel No |
: |
88-02-8170592,
8170593 |
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E-mail |
: |
88-02-8170623 |
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Fax No |
: |
azad@hameemgroup.com |
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Website |
: |
www.hameemgroup.com |
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Location
: |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
4500 |
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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Nishat Nagar,
Tongi, Gazipur, Bangladesh |
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Tel No |
: |
88-02-9813904 |
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Fax No |
: |
88-02-9814430 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
40,000 |
Sq. ft. |
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Branch: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No.
of Employees |
In Office |
: |
20 |
In Factory |
: |
317 |
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In Branch: |
: |
Nil |
Total
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: |
337 |
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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. Abul Kalam Azad |
250 |
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Mr. A K Azad |
5000 |
DIRECTORS
|
Name |
Designation |
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Mr. A K Azad |
Managing
Director |
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Mr. Abul Kalam Azad |
Director |
MANAGEMENT
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Name |
: |
Mr. A K Azad |
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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 |
: |
Ms. Prinka
Saha Lopa |
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Job Description |
: |
Executive
Director (Finance) |
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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. Nitish
Sikdar |
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Job Description |
: |
Manager
(Commercial) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
nitish@hameemgroup.net |
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Other details |
: |
88-01715996261 |
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Name |
: |
Major (Retd)
Sunil Kumar Sarker |
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Job Description |
: |
Manager
(Production) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS OPERATIONS
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Nature
of Activity : |
Manufacturer |
Trader |
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Dealer |
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Distributor |
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Exporter |
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Importer |
Ö |
Dyeing |
Ö |
Washing |
Ö |
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Range
of Products: |
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Products |
: |
Garments Dyeing &
Washing |
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Production
Capacity |
: |
N/A |
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Last
Year Production |
: |
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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|||
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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 |
: |
Overseas Clients |
: |
N/A |
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Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
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 |
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N/A |
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Imports |
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India |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 10 Million |
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Paid-up
Capital |
: |
BDT 525000 |
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No.
of Shares |
: |
5250 |
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Share
Value |
: |
BDT 100.00 Each |
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Main
Assets |
: |
BDT 52.63 Million |
FINANCIAL STATEMENT- DETAILED
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Summary information is given |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Name of The
Group |
: |
Ha-Meem Group |
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Subsidiary |
: |
N/A |
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Sister Concerns |
: |
Modern Chanal 24 Dainik Somokal Trouser Line Ltd. Sakib Poly Ind Lt Express Wash Ltd. Asha Fashions Ltd. Artistic Pesign Ltd Sajid Apparels Ltd. Refat Garments Ltd. Ha-Meen Design Ltd. Apparels Gallery Ltd. That's It Sweater Ltd Thats It Knit Limited That’s It Printing Ltd. Modern Cargo Carrier That’s It Fashions Ltd. Refat Sports Wear Ltd. Creative Wash Limited. That’s It Garments Ltd. Ha-Meem Apparels Ltd. Ha-Meem Fashions Ltd. That"S It Packaging Ltd That’s It Embroidery Ltd. Ha-Meem Denim Limited Ha-Meem Spinning Mills Limited Express Washing and Dyeing Limited |
BANKING
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Bank Name |
: |
Pubali Bank Ltd. |
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Bank Address |
: |
Motijheel Branch Sena Kallyan Bhaban, 195,
Motijheel Comm. Area, Dhaka-1000, Bangladesh
Tel:
88-02-7163366 Fax:
88-02-9550635/11 |
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Bank Name |
: |
Hong Kong Shanghai Banking
Corporation |
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Bank Address |
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Dhaka Main Office Anchor Tower, 108, Bir Uttam
C R Dutta Road, Dhaka-1205, Bangladesh Tel: 88-02-9660536-43 Fax: 88-02- 9660554, 9669457 |
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 address which is situated at Phoenix Tower (4th
Floor), 407, Tejgaon I/A, Dhaka-1215, Bangladesh. It’s 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. We recommended that Credit can proceed
normally. |
FOREIGN EXCHANGE RATES
|
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 0.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
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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 |
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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.