Acknowledgement

First of all I want to give my sincere respect & gratitude to my honorable teacher Mr. M M Saiful Islam (MBA) for his interest and articulate guidance in preparing this report. I also want to give thanks to my professional coordinator Mr. Said, Manager (planning) and Mr. Taslimul Haque Manager (Procurement, for their cordial cooperation and support in providing useful information.

TABLE OF CONTENTS

Sl No. Title Page No.1. Front Matter:

1.1 Acknowledgement1.2 List of Illustration1.3 Forwarding

567

2. Report Body:2.1 Executive Summery2.2 Introduction

2.2.1 Purpose2.2.2 Scope2.2.3 Organizational Plan2.2.4 Research Methodology

78

3. Text Discussion:3.1 Company History3.2 Company Location3.3 Vision3.4 Mission3.5 Organogram3.6 SWOT Analysis

3.6.1 Strength3.6.2 Weakness3.6.3Opportunity3.6.4 Threat

3.7 Factory Details3.8 Technical Details3.9 Import Analysis

3.9.1 Import3.9.2 Local Import3.9.3 Foreign Import3.9.4 Comparison to others company3.9.5 Three years import position

3.10 Export Analysis3.10.1 Direct Export3.10.2 Local Export3.10.3 Comparison to others company3.10.4 Lacking of policy3.10.5 How can overcome

3.11 Four Years Turn Over3.12 Market Share3.13 Financial Statement

3.13.1 Balance Sheet3.13.2 Income Statement 3.13.3 Cash Flow Statement

101112121314

151617

21

23-242526

4. Organizational Strategy 4.1. Name Of Strategy 4.2. Reason for Success/Failure

3030

5. Findings 316. Recommendations 31

7. Closing Section:7.1. Summery7.2. Conclusion7.3. Reference

323232

8. Back Matter8.1. Bibliography8.2. Glossary8.3. Index

333334

1.2. LIST OF ILLUSTRATION

♦ Figure 1 – Corporate Headquarter Page – 11♦ Figure 2 – Factory Building Page – 11♦ Figure 3 – Inside the Factory Page – 15♦ Figure 4 – Technical Support Page - 16♦ Figure 5 – Last 3 Years Import Position Page – 19♦ Figure 5 – Last 4 Years Sales Turnover (kg.) Page – 22♦ Figure 6 – Last 4 Years Sales in Taka Page – 24♦ Figure 7 - Market Share Page – 25

2.1. EXECUTIVE SUMMARY

Square stands for ceaseless efforts. The philosophy of never standing still, slowing down, never stop thinking & never compromise with quality made Square the most progressive & dynamic business leader in the country. Square believes in using advanced technology to cope with the changing world. Motivation & diversification is the its major strength.

It all started in 1958 with the establishment of a pharmaceutical company & now after 46 years Square is the leader in pharmaceutical industry & textile industry. Square first ventured in the textile sector with the establishment of the first unit of the Square Textiles Ltd. in 1997. One year later the establishment of the second unit followed. It invested US$ 20.00 million for the first unit & US$ 13.00 million for the second unit. Its target market was export oriented garments industry.

Square constructed its state of the art manufacturing facility at Saradaganj, Kashimpur, Gazipur with high tech machinery from Europe. It has four dormitories for the work force & two residential buildings for the management staff provide more than 80% housing for the employees. Square is the 1st of its kind in Bangladesh to provide accommodation facilities to its employees. Production & accommodation facilities include full time supply of drinking water, adequate lighting & ventilation facilities.

Free meals, free transportation, 24 – hours medical center, on-site sports & recreation facilities encourage the motivated team to serve customers full heartedly.

ETI codes according to the local law (Bangladesh) are very strictly practiced in its manufacturing facilities.

It has biological treatment & energy conservation program. State of the art technology has been used in the effluent treatment plant for the biological treatment of the waste.

2.2. INTRODUCTION

For smoothing exporting goods to abroad needed smooth supply of raw materials and other related goods. Smooth supply of all goods based on importing goods from abroad, which are required and local supply of goods, which are used in making exporting goods. Since Square textiles ltd is 100% export oriented organization that’s why square textiles ltd need to import goods from abroad so many things like cotton, machinery, chemicals etc. And this organization not only import goods from abroad but also exports goods abroad. Export and import are inter related activity in this company. So, to uninterrupted export and import it is essential to analysis all the activities of export and import related. For this reason this analysis is done.

2.2.1. PURPOSE: The purpose of the report is to examine the current

Import & export analysis of the Square Textiles Ltd. This is the

requirement of the course curriculum of the subject Intern Ship

Programme of IIUC.

2.2.2. SCOPE: I tried to focus on the overall day-to-day business

affairs of the company. I cannot not cover the details due to time

constrains.

2.2.3. ORGANISATIONAL PLAN: I tried to present My report on the

basis of topics.

2.2.4. METHODOLOGY: As a primary source of information I have

discussed with the concern employees of the company to get the

necessary information.

My secondary source of information was corporate induction program

manuals/ videos, Annual reports, bulletin & the employees’ yearly

magazine.

3. TEXT DISCUSSION

3.1. COMPANY’S HISTORY

In 1997, Square entered the textile sector with its manufacturing

facilities of cotton yarn. Combining modern technology with skilled

manpower under Square's unique inspiring, atmosphere, and this new

Square venture soon rose to the top of the local textile industry. Today

it has one of the most sophisticated vertically integrated set-ups.

Square first ventured into the textile sector with the establishment of

the first unit of the Square Textile Ltd. in 1997. A year later the

establishment of the second unit followed.

CORPORATE HISTORY

♦ Year of establishment : 1994

(In corporate as a public limited company)

♦ Year of operation : 1997

♦ Stock exchange listing (Dhaka & Chittagong): 2002

♦ Award Oeko-Tex Standard 100 : 2000

♦ Award ISO-9002 Certified : 2000

♦ Business Lines : Manufacturing

&

Marketing of Yarn

♦ Authorized capital : Tk. 1000 Million

♦ Paid up Capital : 251.90 Million

♦ Number of employee :1223

3.2. COMPANY LOCATION

CORPORATE HEADQUARTER

Square Centre48, Mohakhali C/ADhaka-1212.

HEAD OFFICE

Mascot Plaza (11th – 12th Floor)Plot # 107/A,Sector # 7Uttara Model TownUttara, Dhaka.

FACTORY

Saradaganj, Kashimpur, Gazipur.

TARGET MARKET

Export Oriented Readymade Garments Industry

Figure: 1

Figure: 2

3.3. OUR VISION

Our conception of the business germinates from our vision which sees it is as a

means to the well being of the investors, stakeholders, employees and members of

the society at large by creating new wealth in the form of goods and service that go

to satisfy the wants of all of them without disturbing or damaging the socio-economic

balance of the mother earth and that process of human civilization leading to

peaceful co-existence of all the living beings.

3.4. OUR MISSION

Our mission is realization of vision through maximum production of goods and

services strictly on ethical and moral standards at minimum costs to the society

ensuring optimum benefits to the shareholder and other stakeholders

3.5. ORGANOGRAM

Head Of Operations

Head of Marketing

Head of Finance

Head of Commercial

Head of HR

Production Manager

Quality Assurance Manager

Technical Manager

Marketing Manager

Sales Manager

Business Development Manager

Accounts Manager

Finance Manager

Internal Audit Manager

Logistic Manager

Export Manager

Import Manager

Adminis-tration

Manager

Employee Relation Manager

HR Manager

Managing Director

3.6. SWOT ANALYSYS

3.6.1. STRENGTH

♦ Sister concern of Square group with high technical support.

♦ High amount investment in machine and factory.

♦ No workers unrest because of location facility.

♦ Own dormitory for staff and workers.

♦ Sophisticated high-tech machinery’s used for production and Quality control.

3.6.2. WEAKNESS

♦ Cost of yarn is high for high quality.

♦ Raw cotton is not available in local market.

♦ Unstable price of Raw cotton in the international market.

3.6.3. OPPORTUNITY

♦ Huge scope for export.

♦ Operational efficiency.

♦ Provision for capacity expansion.

3.6.4. THREAT

♦ Invasion of Indian yarn through black market.

♦ Unstable economic situation of our country.

♦ Unstable political condition.

3.7. FACTORY DETAILS

CAPACITY

Unit 1: 36,288 spindles with daily production capacity of 30,000 kgs.

Unit 2: 23,184 spindles with daily production capacity of 14,000 kgs.

PRODUCTS

Unit 1: Combed and Carded yarn from a count range of Ne. 10 to

Ne. 80.

Unit 2: Combed Ring Yarn from a count range of Ne. 20 to Ne. 40.

Figure: 3

3.8. TECHNICAL DETAILS

MACHINERY DETAILS

Name of Machines Country of Origin

Back Process : Rieter-Switzerland(Blow room :: Carding :: Drawing :: Combing)

Simplex / Fly Frame : Toyoda-Japan

Ring Frame : Toyoda-Japan

Autocone Winding : Schlafhorst–Germany

QC Equipment : Zellwegers Uster- Switzerland

Humidification Plant : Luwa-Switzerland

Air-Cooling / Chiller : McQuay-USA

Figure: 4

3.9. IMPORT ANALYSIS

Square Textiles Ltd is a 100% export oriented Yarn manufacturing

company. They mainly produce Yarn and export it to Fabrics

manufacturing company and fabrics manufacturing company export it

to garments industry through Back to back L/C and garments Garment

industry export this fabrics against master L/C after certain process in

this sance Square Textiles Ltd is Exporter of yarn. But in the

commercial term these kinds of exporter are called deem exporter. As

main job of Square Textiles Ltd is to manufacturing and exporting of

Yarn so they need some raw materials and axillaries to manufacturing

this product. Main raw materials of square Textiles Ltd are various

types of raw cotton. As Square is a vertical integrated company. So

they have forward and backward linkage facility e,i. they have fabrics

manufacturing company and they have garments manufacturing

company. Square Knit Fabrics Ltd get 100% L/C from their own

garments Industry and Square Textiles ltd. Get 60% L/C from their

own company Square Knit Fabrics Ltd and another 40% get from other

company. So that the buyers of Square Fashions & Others garments

industry are the ultimate buyers of Square Textiles Ltd. Square

Textiles Ltd mainly procure their raw cotton by 100% cash L/C.

3.9.1. IMPORT

As the main raw martial of Square Textiles Ltd is raw cotton. so the procure their raw

materials under two ways

1) Local import

2) Foreign Import

3.9.2. LOCAL IMPORT:

As Square Textiles Ltd. is a largest finest yarn manufacturing company

of Bangladesh so they need various type of raw cotton. But we cannot

produce high quality of raw cotton in our country so we 100%

depended on imported cotton so that Square Textiles . Local import is

nil.

3.9.3. FOREIGN IMPORT

As we know that to produce high quality of yarn need high quality of

raw cotton. High quality of raw cotton means which cotton exists

length fiber is long and fibers are matured. To produce high quality of

raw cotton mainly needs favorable weather condition but we have not.

So ultimately we depended fully imported raw cotton for our textiles

mills. Square Textiles Ltd mainly procure central Asia’s cotton e,i.

Uzbekistan’s, Turkmenistan’s, Kazakhstan’s, and Tajikistan’s raw

cotton as per their buyers satisfaction. Though the price of central

Asia’s raw cotton are higher than the others cotton. Square Textiles

also procure raw cotton from Zimbabwe, Syria, USA, India, West

African, Indonesia, and Thailand etc through cash L/C.

3.9.4. COMPARISON TO OTHERS COMPANY WITH IMPORT POLICY:

Square Textiles Ltd think, though customers like central Asia’s cotton at higher price

and most of the spinning mills go for central Asia’s cotton as per their customers

satisfactions. But this trend is not continuing for long period. Because may central

Asia’s companies think they will produce yarn in their own country or others

company like square think they established a plant in central Asia’s country. Then

central Asia’s cotton are not available then what will do the others company. Square

Textiles Ltd always think different. For this reason to face this problem they use 60%

to 50% CIS cotton and 40% to 50% others cotton which quality is same like CIS

cotton to overcome future any problem. Square textiles do not follow others so

allover the year they procure cotton for two or three month advance. So that over

the year they can maintain average cotton price and they do not loss hues and they

do not gain hues. But on the other hand others company they forward book all over

the year so if the cotton price is higher then they gain hues and cotton price is down

they losses hues.

3.9.5. LAST THREE YERS IMPORT POSITION

QUANTITY IMPORT IN THOUSAND (TAKA)

2004 2003 2002

Raw materials Import 1293112 1069660 1293012

TotalSales 1293112 1069660 1293012

3.10. EXPORT ANALYSIS

3.10.1. DIRECT EXPORT

Direct export of Square Textiles Ltd is so little because they import 100% raw cotton

from abroad so their yarn price is higher than the others country

Total Import

1293112

1069660

1293012

0

200000

400000

600000

800000

1000000

1200000

1400000

2004 2003 2002

Total Import

Figure: 5

3.10.2. LOCAL EXPORT

As a deem exporter Square Textiles Ltd export their 60% yarn to their own sister

concern Square Knit Fabrics Ltd and balanced yarn they export to the others textiles

industry through back to back L/C. Square Knit Fabrics Ltd mainly export their

100% fabrics to their another sister concern Square Fashions Ltd which is a world

class garments manufacturing company and others textiles industry export their

fabrics to others garments company in our country. Square Fashions ltd and others

garments company have strong marketing tem they visit all over the world to market

their product to world class buyer like Puma, Nike, Asda, Matalan. Allmart, Mark &

Spencer, Kitaro, Redfild, H&M, Ashcity, Mexx etc Square Fashions Ltd and others

garments company Mainly collect L/C from those world class buyer and Square

Fashions Ltd give L/C to Square Knit Fabrics Ltd and others garments company give

L/C to another Fabrics manufacturing company to collect fabrics. As well as Square

Knit Fabrics Ltd and others textiles mills give L/C to Square Textiles Ltd to collect

yarn for producing fabrics. As Square Textiles is a deem exporter so the export their

yarn to Square knit Fabrics and others textiles industry Square Knit Fabrics and

others textiles company export their fabrics to Square Fashions and others garments

industry and garment companies are direct exporter so in this scence Square Textiles

Ltd is 100 % export oriented yarn manufacturing company. Square Textiles Ltd also

sale a little portion of yarn in locally which is produce by wastage cotton. These types

of yarn are “B” Grade and it is not meet the export quality.

3.10.3. COMPARISON TO OTHERS COMPANY WITH EXPORT POLICY

Square’s policy is always different from the others companies policy. So Square

Textiles follow some technique to increase their export. Like in production they use

heterogeneous system to create a big lot e,i. As same quality of cotton they mix as

bellow:

Uzbekistani’s Cotton 2 Bells

US Cotton 1 Bell

Syrians Cotton 2 Bells

West African’s Cotton 3 Bells

Indonesia’s Cotton 1 Bell

____________

Total 9 Bells

And create a big lot 90 tons to 100 tons, so that big customers always prefer to use

same lot of yarn to get better result in dyeing and there no shade variation for their

big production. Square Textiles always try to produce same quality of yarn allover

the year for this reson buyers always prefer Square textile’s Yarn but others

company follow general system Where they use Same cotton e’i. When they use

Uzbek cotton then they use only Uzbek cotton. So that their yarn lot is always small

e,i. 30 to 40 tons and allover the year they cannot maintain the same quality, so big

buyer do not prefer their yarn for their hues production.

Square Textiles Ltd follows another technique e,i. they always try to meet customer’s

shipment on due date but on the other hand others company always cannot do that.

So Square Textile’s sales always in creasing.

3.10.4. LACKING OF POLICY

Square Textiles Ltd always use Heterogeneous system e,i. They use mix cotton to

produce yarn, so their production cost is less and others company use general

system e,i. They use 100 % Uzbekistani’s cotton it is costly so their production cost

always high. If in the market create a rumer that square textiles do not use 100%

Uzbek cotton but their yarn rate is higher than the others it is bad for them and they

can loose their big market.

3.10.5. HOW CAN OVERCOME THIS LACKING

Square Textiles can avoid Heterogeneous system and they can increase their

dependency on Central Asia’s cotton.

They can reduce their yarn price and convince customers that though square use

heterogeneous system but their result is same like central Asia’s cotton.

They can also convince their customers to reduce dependency on CIS cotton to

absorb any shock in future.

3.11. LAST FOUR YEARS SALES TURNOVER

QUANTITY SOLD IN THOUSAND (KG.):

2004 2003 2002 2001

Local sales 99 527 539 453Export sales 14554 13417 13129 12705

TotalSales 14653 13944 13668 13158

Total Sales

14653

1394413668

13158

12000

12500

13000

13500

14000

14500

15000

2004 2003 2002 2001

Total Sales

Figure: 6

QUANTITY SOLD IN THOUSAND (TAKA)

2004 2003 2002 2001

Local sales 9455 32576 46956 43881Export sales 2093214 1756441 2029968 2054190

TotalSales 2102669 1789017 2076924 2098071

Total Sales

2102669

1789017

2076924 2098071

1600000

1700000

1800000

1900000

2000000

2100000

2200000

2004 2003 2002 2001

Total Sales

Figure: 7

3.12. MARKET SHARE

Shamim Spinning Mills Ltd. 30%Padma Textiles Ltd. 25%Square Textiles Ltd. 20%Mother Textiles Ltd. 15%Prime textiles Ltd. 05%Others 05%Total 100%

Market Share

30%

25%20%

15%

5% 5%

Shameem Spinning Mills ltd. Padma Textile Mills ltd.Square Textiles ltd. Mother Textiles ltd.Prime Textiles ltd. Otherss

Figure: 8

3.13. Financial Statement

3.13.1.SQUARE TEXTILES LTD.

BALANCE SHEETAs at 31 December 2004.

AMOUNT IN TK.

31-12-2004 31-12-2003

NET ASSETS:

FixedAssets 121,73,31,766 132,66,42,613

Current Assets:Stocks 32,90,15,503 25,05,79,314Trade Debtors 84,00,66,283 74,68,96,100Adv. Deposits & Payments 4,66,13,570 4,88,12,438Cash & Bank Balances 6,83,69,954 91,24,736

250,13,97,076 238,20,55,201

LIABILITIES:

Current Liabilities:

Short Term Loan 113,01,54,432 99,75,36,568Long Term Loan-Current Portion ------------- 11,28,97,588Sundry Creditors 7,08,81,052 5,84,02,645Liabilities For other Finance 4,73,56,925 3,95.84.188Provision for Income Tax 1,91,10,742 ___ 57,51,014

126,75,03,151 121,41,72,003

SHARE HOLDERS EQUITY:

Share Capital 25,19,00,000 25,19,00,000Tax Holiday Reserve 33,96,71,397 29,69,28,100General Reserve & Surplus 64,23,22,528 59,77,80,098

250,13,97,076 238,20,55,201

3.13.2.

SQUARE TEXTILES LTD.INCOME STATEMENT

For the year ended 31 December 2004.

AMOUNT IN TK.

2004 2003

Sales 210,26,70,263 178,90,18,386Less: Cost Of Goods Sold 173,70,55,759 150,02,81,590Gross Profit: 36,56,14,504 28,87,36,796

Less: Operating andfinancial expenses 17,55,24,220 19,78,35,510Operating Income 19,00,90,284 9,09,01,286

Other Income 2,25,844 6,63,215Net Profit Before WPPF 19,03,16,128 9,15,64,501

Allocation For WPPF & WF 90,62,673 43,60,214 Net Profit Before Tax 18,12,53,455 8,72,04,287

Less: Provision forIncome Tax 1,33,59,728 57,51,014 Net Profit For the Year 16,78,93,727 8,14,53,273

3.13.3.

SQUARE TEXTILES LTD.Cash Flow Statement

For the year ended31 December 2004.

AMOUNT IN TK.

2004 2003

Cash Flow fromOperating Activities:

RECEIPTS:Collection From Sales 200,95,00,080 186,13,50,517Others 2,25,844 6,63,215

200,97,25,924 186,20,13,732

Less:PAYMENTS:Purchase of Raw andPacking Materials (139,80,91,956) (104,62,25,984)Manufacturing andOperating Expenses (33,94,18,521) (32,32,02,946)Interests (11,44,33,862) (14,26,12,064)Workers Profit Participation Fund (42,62,961) (81,73,177)

185,62,07,300 152,02,14,171

Net Cash Provided byOperating Activities 15,35,18,624 34,17,99,561

Cash Flow fromInvesting Activities:

Purchase of Fixed Asset (1,78,17,640) (1,95,36,204)Less: Disposal of Fixed Asset 57,06,958 40,00,000Net Cash Used inInvesting Activities 1,21,10,682 1,55,36,204

Cash Flow from Financing Activities:

Long and Medium

Term Loan-Repaid 13,41,72,588 17,52,92,648

Dividend Paid 8,06,08,000 7,40,59,553

Short Term Loan-Received (13,26,17,864) (8,04,32,598)

Net Cash Used in

Financing Activities 8,21,62,724 32,97,84,799

Increase/(Decrease) in

Cash Bank Balance 5,92,45,218 35,21,442

Cash and Bank Balance

at Opening 91,24,736 1,26,46,178

Cash and Bank Balance

at Closing 6,83,69,954 91,24,736

4. ORGANIZATIONAL STRATEGY

4.1. NAME OF STRATEGY

Square follows the following organizational strategy for his

organization:

1) Business diversification strategy

2) Best cost strategy

3) Nich marketing strategy

1) In present they are diversified business giant in Bangladesh.

2) They always provide improved quality of product for their customers

with lower price and they never compromise with their quality.

3) On the part of their business diversification strategy the always

tried to making their product for nich market Ex: Square harbal

Ltd. (A harbal medicine Company)

4.2. REASON FOR SUCCESS/FAILURE

Most of the cases they are successful because they are committed to

his customers and Bangladesh for their quality product. Square

believes in using advanced technology to cope with the changing

world. Motivation & diversification is its major strength.

5. FINDINGS

• Square Textiles mainly use mix cotton to produce yarn but on the other

hand others company use Uzbek cotton.

• Square Textile’s yarn price is higher than the others company

• Square Textiles do not forward booking to procure cotton but others

company do that.

• They do not arrange get together for their big buyer at least one time a

year.

• They do not invite their big buyer to visit their factory.

6. RECOMMENDATION:

• As square Textiles use mix cotton so they can reduce their yarn price

• Square Textiles can follow the others company e,i. they can only use CIS

cotton.

• Square Textiles can convince their buyer to reduce dependency on CIS

cotton to absorb any shock in future.

• They can arrange get together for their buyer at least one time a year

where buyer can freely discuss their problem and they can give their

advice to overcome this problem.

7. CLOSING SECTION

7.1. SUMMERY

Square Textiles Ltd. is one of the largest companies in the textile sector of the country. It has a most modern and sophisticated equipment with a group of professional peoples who posses a high standard of technical know how. This company produces a high quality of yarn of which 95% is exported to foreign countries and this has been possible as the company is very conscious in maintaining the high standard of quality. Presently the company’s progress is upwards. Finally we can say this company has set a milestone in the textile sector in the country.

7.2. CONCLUSION

Square Textiles Ltd. has reached to its present stable and profitable position due to its operational activities in the right way managed by a group of professional and technical experts. The company’s people are

well motivated and working under a healthy congenial environment. Here all facilities are available for smooth operations of the company. On the other hand the company is contributing to the national economy by employing a lot of people and earning foreign currency for which we feel proud for having such a company in our country.

7.3. REFERENCE

Annual Report & Brochure www.square-bd.com

8. BACK MATTER

8.1. BIBLIOGRAPHY

• Annual Report• Brochure• www.square-bd.com

8.2. GLOSSARY

1. Income Statement: A Financial Statement that presents the revenues & expenses

2. Balance Sheet: A Financial Statement that reports the assets, liability & owners equity at a specific date

3. Cash Flow Statement: A Financial Statement that summarizes cash inflow & outflow

4. Liability: Creditorship claim on total assets

5. Blow Room: It is the first stage of yarn manufacturing process to clean raw materials (Cotton)

6. Combed Yarn: When yarn production processes gone through the combed machine (Best quality yarn)

7. Count: Measurement of yarn thickness

8. Chiller: System to cool the air temperature

9. Hosiery Plant: The yarn used for hosiery products

10. Humidification: This is the system of air handling with control of moisture in the air

11. ISO: International Standard Organization

12. OEKO: TEX Standard law. US based certification body for controlling health-hazard

13. Paid up Capital: It is the part of the authority capital, which are initiates invested in the business

14. Spindle: This is the unit of a final production process in textile industry

15. Span: The process to make yarn from stable fiber

16. Yarn: Fine fiber raw cotton

8.3 INDEX

Balance Sheet : 27

Blow Room : 17

Cash Flow Statement : 29-30

Chiller : 17

Combed Yarn : 16

Count : 16

Humidification : 17

Income Statement : 28

ISO : 11

Liability : 27

OEKO : 11

Paid up Capital : 11

Spindle : 16

Yarn : 11,16