ANNEXURE-“A”
APPLICATION FOR APPROVAL OF FOREIGN BORROWIN AGREEMENT
1.
a.
i)
Name, address and telephone number of the Industrial enterprise.
:
Bengal IRIS TAKUMI LTD.
Lot No. D1, Bangladesh Special Economic Zone, Sonpara, Panchrukhi Via Rupganj Araihazar, Narayanganj-1460 Bangladesh.
No Telephone
ii)
Authorized Contact person information with mobile number of the application Industrial enterprise
:
Mr. Masataka Irie
+880 17 0899 6405
b.
i)
Registration Number
:
Reg. No. C-194385,
ii)
Registration Date
:
21st-MARCH-2024
iii)
Issuing authority (BIDA/DOT)
:
BEZA
c.
Type of Industries
Please Tick
i)
Export oriented and export linkage Industries
:
✔
ii)
Pioneering Industries
:
iii)
Industry based on new/high Technology
:
iv)
Industry that generates employment
:
✔
v)
Industry based on local natural resources and its diversified
:
vi)
Industry that involves high value added.
:
vii)
Increase industrial efficiency & productivity
:
✔
viii)
Employment opportunity
:
✔
2.
a.
Name & address of the foreign firm(s) from whom borrowing has been proposed.
:
IRIS Co., Ltd.
1933, Iizuka, Ota, Guma, Japan.
b.
Principal amount of the Borrowing
:
USD 3,000,000
c.
Purpose of Borrowing
:
To build a factory and purchase machineries.
3.
Foreign Borrowing Proposal
a.
Copy Draft/Final Agreement should be attached
:
Please confirm the attached doc.
b.
Effective rate of interest
:
3% simple
c.
Repayment period
:
10 years including a moratorium period.
d.
Effective date
:
1st January 2026
e.
Down payment, if any
:
None
4.
Type of Borrowing
Please Tick
a.
Loan
:
✔
b.
Supplier’s credit
:
c.
Pay-As-You-Earn Scheme
:
d.
Deferred payment
:
e.
Others (Please escribe)
:
5.
Commercial viability report of project along with the analyses and paper in regards of
:
a.
Name of the sector/sub-sector of the project with item of products
:
Garments accessories industry
b.
The commercial viability of the project
:
IRIS group has USD5M in sales towards the EU & USA market. Part of those sales will be made by Bengal IRIS Takumi.
c.
The capacity of the project to service the proposed debt with income flows from the project.
:
Production of 180M buttons/Y
Sales of USD 2.5M/Y.
After service the yearly debt of USD 422 K, profit would be USD 450K/Y.
d.
The cost competitiveness of the outputs from the project in the domestic and external markets
:
Buttons made by Bengal IRIS is
around USD 0.0139/pc and the cost is USD 0.0100/pc.
e.
The existing production capacity of Bangladesh and demand of the products in local as well as export market abroad on the basic of market study
:
Export earnings of RMG in BGD is USD 36,151M in 2023 according to the annual report of Ministry of commerce, Export Promotion Bureau.
Annual-Report - Export Promotion Bureau-Government of the People\'s Republic of Bangladesh
Some buttons are imported from outside of Bangladesh to fulfill the export demand of RMG of Bangladesh.
f.
Existing indebtedness structures of the sponsors of the project, duly certified by report of their bankers as to their credit worthiness
:
Prime bank will certify based on CIB reports.
6.
Please outline the reasons for entering into an agreement on foreign currency borrowing (Please attach separate sheet, if necessary).
:
With its consistently high potential, Bangladesh's ready-made garment (RMG) sector is poised to keep attracting substantial foreign investment. Therefore, the IRIS group is willing to make additional investment.
Term loan from local sources against CAPEX is not entitled for A type company. Moreover it will be difficult and cumbersome to provide collateral security against Term Loan hence decided to take foreign currency borrowing from the group at a lower pricing.
7.
Schedule of Repayment in brief
:
Attached Loan Agreement.
8.
Name and address of the Industrial enterprise’s nominated Bank.
:
Prime Bank PLC.
Signature
:
Masataka Irie
Name and designation of applicant
(with seal)
🗸
:
Bengal IRIS TAKUMI LTD.
Lot No. D1, Bangladesh Special Economic Zone, Sonpara, Panchrukhi Via Rupganj Araihazar, Narayanganj-1460 Bangladesh.
Date
:
25 November 2025
** Effective interest is the sum of the stated annual rate of interest and other annualized fees and expenses such as syndication fee, front-end fee, project appraisal fee, legal fee etc.