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MIRA INFORM REPORT
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Report No. : |
511129 |
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Report Date : |
24.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AKIJ TEXTILE MILLS LTD. |
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Registered Office : |
Akij Chamber, 73, Dilkusha C/A, Dhaka-1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 [Summarized] |
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Date of Incorporation : |
28.02.1995 |
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Com. Reg. No.: |
C-27926 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor, Dyeing, Importer and Exporter of Cotton Yarns. Woven Fabrics, Dyeing. |
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No. of Employees : |
1600 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
IDENTIFICATION DETAILS
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||
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Correct company Name |
: |
AKIJ TEXTILE MILLS LTD. |
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Head Office |
: |
Akij Centre, 98, Shahid Tajuddin Ahedm Sharani, Sat
Rasta More, Tejgaon I/A, Dhaka-1208, Bangladesh |
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Tel No |
: |
88-01730781712 |
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Fax No |
: |
Nil |
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E-mail |
: |
info_atml@akij.net |
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Website |
: |
www.akijtextilebd.com |
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Date/ Year of Incorporation |
: |
28.02.1995 |
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Incorporation
No. |
: |
C-27926 |
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Vat registration
No |
: |
17161002675/ Dhaka |
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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) |
Other
Registry & Certification Details
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Organization
Name |
: |
Bangladesh Textile Mills Association |
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Membership No |
: |
N/A |
FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th
June’2016 |
BDT 1297 Million |
BDT 3450.80 Million |
BDT 78.20 Million |
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30th
June’2017 |
BDT 1924 Million |
BDT 3541.25 Million |
BDT 81.90 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Sk.
Bashiruddin |
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Designation |
: |
Managing Director |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
Akij Centre, 98, Shahid Tajuddin Ahedm Sharani, Sat
Rasta More, Tejgaon I/A, Dhaka-1208, Bangladesh |
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Tel No |
: |
88-01730781712 |
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Fax No |
: |
Nil |
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E-mail |
: |
info_atml@akij.net |
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Website |
: |
www.akijtextilebd.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
5500 |
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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Golora, Charkhanda, Manikgonj, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
4.5 |
Acores |
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Register Address: |
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Address |
: |
Akij Chamber, 73, Dilkusha C/A, Dhaka-1000, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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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 |
: |
68 |
In Factory |
: |
1532 |
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In Branch: |
: |
Nil |
Total |
: |
1600 |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of
Share |
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Mr. Sk. Nasiruddin |
225216 |
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Mr. Sk Bashiruddin |
225216
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Mr. Sk. Jamiluddin |
225216 |
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Mr. Sk. Jasimuddin |
225216 |
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Mr. Sk. Shamimuddin |
225216 |
DIRECTORS
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Name |
Designation |
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Mr. Sk. Nasiruddin |
Chairman |
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Mr. Sk. Bashiruddin |
Managing Director |
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Mr. Sk. Jamiluddin |
Director |
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Mr. Sk. Jasimuddin |
Director |
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Mr. Sk. Shamimuddin |
Director |
MANAGEMENT
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Name |
: |
Mr. Sk.
Bashiruddin |
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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. Md. Arif |
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Job Description |
: |
Officer
(Marketing) |
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Nationality |
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Bangladeshi |
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Email address |
: |
arif.atml@akij.net |
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Other details |
: |
N/A |
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Name |
: |
Mr. Md. Sohel |
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Job Description |
: |
Officer (Marketing) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
a.shohel@akij.net |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Dyeing |
Ö |
Importer |
Ö |
Exporter |
Ö |
Others |
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Range of
Products: |
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Products |
: |
Cotton Yarns. Woven Fabrics, Dyeing |
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Production Capacity |
: |
40, 000 kg per day |
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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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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 |
: |
N/A |
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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 |
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Imports(Country) |
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China, India. |
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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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Active |
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CAPITAL
STRUCTURE
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Authorized Capital |
: |
BDT 1500 Million |
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Paid-up Capital |
: |
BDT 1126080000 |
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No. of Shares |
: |
1126080 |
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Share Value |
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BDT 1000.00 Each |
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Main Assets |
: |
BDT 3541.25 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary information is given. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Name of
The Group |
: |
Akij Group |
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Subsidiary |
: |
Nil |
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Sister Concerns |
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Nebula Ink Ltd. Akij Online Ltd. Akij Clorite Ltd. Ad-Din Hospital Akij Housing Ltd. Saf Industries Ltd. Akij Shipping Ltd. Akij Footwear Ltd. Akij Securities Ltd Akij Computer Ltd Akij Jute Mills Ltd Akij Poly Fibre Ltd. Akij Corporation Ltd. Akij Biri Factory Ltd. Leaf Processing Plant Ad-Din Welfare Trust Akij Jarda Factory Ltd. Akij Foundation School Dhaka Tobacco Industries Akij Pharmaceuticals Ltd. Sonar Bangla Cement Ltd. Savar Industries (Pvt.) Ltd. Akij Food & Beverage Ltd. Akij Transport Agency Ltd. Akij Cement Company Ltd. Akij Match Factory Limited DTI Leaf Purchasing Centre Akij Particle Board Mills Ltd. Akij Printing & Packages Ltd. Dhaka Tobacco Industries Ltd. Seikh Akij Uddin High School Ad-Din Shishu Kishore Niketon Akij Particle And Hard Board Mills Ltd. |
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BANKING
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Bank Name
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Islami Bank
Bangladesh Ltd. |
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Bank Address |
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Head Office Complex Islami Bank Tower, 40, Dilkusha C/A,
Dhaka-1000, Bangladesh Tel: 88-02-9570910, 9570911,7166598 Fax: 88-02-9564532 |
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 |
: |
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 Akij Centre, 98, Shahid Tajuddin Ahedm Sharani, Sat Rasta More, Tejgaon
I/A, Dhaka-1208, Bangladesh. It is situated at Industrial Area. |
GENERAL
COMMENTS
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|
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
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Indian Rupees |
|
US Dollar |
1 |
INR 68.21 |
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|
1 |
INR 91.43 |
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Euro |
1 |
INR 80.24 |
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BDT |
1 |
INR 0.81 |
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 : |
NIT |
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.