MIRA INFORM REPORT

 

 

Report Date :           

10.12.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

N.Z.D.Y FLAX SPINNING LIMITED 

 

 

Registered Office :

181 (New) Arambagh, 5/1 (Old), Khan Plaza, Motijheel, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

07.10.2007

 

 

Com. Reg. No.:

C-71118

 

 

Legal Form :

Private Limited  Company

 

 

Line of Business :

Manufacturer, Exporter & Importer of Yarn Fabric

 

 

No. of Employees :

340 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 25,000.00

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Bangladesh

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY DETAILS

 

Name

N.Z.D.Y Flax Spinning Limited

Address

181 (New) Arambagh, 5/1 (Old), Khan Plaza, Motijheel, Dhaka-1000

Country

Bangladesh

Telephone No

880-2- 7102385, 7100428, 7101042

Fax No

880-2-7101049

E-Mail

nzgroup@dhaka.net  / nztextileltd@yahoo.com

Website

NIL

Established

2007

Company Registration No

C-71118

Registration date

7th October 2007

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Manufacturer

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

181 (New) Arambagh, 5/1 (Old), Khan Plaza, Motijheel, Dhaka-1000

Location : Owned

Telephone No

880-2- 7102385, 7100428, 7101042

Fax No

880-2-7101049

E-Mail

nzgroup@dhaka.net

Website

NIL

Branch

NIL

Factory

Balaikha, Vulta, Rupgonj, Narayangonj.

Location : Owned

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

Balaikha, Vulta, Rupgonj, Narayangonj.

 

DIRECTORS

 

Name

Mr. Shahiduzzaman Khan

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Nuruzzaman Khan

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Shahiduzzaman Khan

Share Percent

60%

Nationality

Bangladeshi

 

 

Name

Mr. Nuruzzaman Khan

Share Percent

40%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer, Exporter & Importer of          

Items Dealing In

Yarn Fabric

Terms of Purchase

Local: Cash / Credit

Import: Against L/C

Terms of Sale

Local: Cash / Credit

Exporters of

Products : Yarn

Country : Japan, Korea, Belgium

Importers of

Products : Yarn

Country : Belgium, japan

Auditors

Mr. Ahsan Awal & Company, Bangladesh

Chartered Accountants 

 

BANKERS

 

Name 1

Pubali Bank Ltd

Branch

Motijheel Corporate Branch

Address

Motijheel Commercial Area, Dhaka

Name 2

Islami Bank Bangladeshi Limited

Name 3

Standard Chartered Bank

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2010

2009

 

2008

Investment

Tk.36 million

Tk.36 million

Tk.34 million

Turnover

Tk.201 million

Tk.199 million

Tk.198 million

Liability

Tk.5.9 million

Tk.7 million

Tk.7.8 million

Assets

Tk.52 million

Tk.50 million

Tk.50 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.25 million

Paid Up Capital

Tk.5 million

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

122.7485

U.S Dollar

1

78.9500

European Euro

1

105.9440

 

Information Parted By:

 

Name               : Mr. Moniral Islami

Designation     : General Manager

Mobile No.       : 0880 – 2-7101042

Date                 : 08.12.2011

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Records Found

Litigation

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

MAXIMUM RECOMMENDED CREDIT

 

Amount

Based On

US$ 25,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

340 Approximately

Office Area (Sq. Ft)

1,650 sq.ft (rented)

Factory Area (Sq. Ft)

40,000 sq.ft (rented)

Warehouse Area (Sq. Ft)

5,500 sq.ft (rented)

Range of Products

4 Yarn

Major Clients 

4 Local Export Oriented Ready-made Garments Industries

Certifications

NIL

Group Name

NZ Group

Subsidiaries / Affiliates

4 N.Z. Textile Ltd

4 N.Z. Fabrics Ltd

4 N.Z. Multipurpose & Agro Ltd

4 N.Z. Spinning Ltd

4 Joni Textile Ltd

4 Joni Finishing

4 M/S Nuruzzaman Khan

4 Nuruzzaman khan & Co. Ltd.

4 Nuruzzaman Auto Bricks

Member

4 Bangladesh Textile Manufacturers Association, Dhaka

4 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

Financial Data

                                                                                                (Amt. In Bangladeshi Taka (BDT) Millions)

Particulars

 

31.03.2011

31.03.2010

Sales Turnover

250.000

201.000

                                                                                           

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.