MIRA INFORM REPORT

Report Date :

07.11.2012

IDENTIFICATION DETAILS

Name :	TEX ZIPPERS (BD) LIMITED
Registered Office :	Plot No.180, Adamjee EPZ, Adamjee Nagar, Shiddirganj, Narayanganj

Country :	Bangladesh

Date of Incorporation :	03.03.2007

Com. Reg. No.:	C-70268

Legal Form :	Public Limited

Line of Business :	Manufacturer & Seller of Metal Zippers

No. of Employees :	150

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Bangladesh

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

BANGLADESH - ECONOMIC OVERVIEW

The economy has grown 5-6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, 45% of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Bangladesh's growth was resilient during the 2008-09 global financial crisis and recession. Garment exports, totaling $12.3 billion in FY09 and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP.

Source : CIA

COMPANY DETAILS

Name	Tex Zippers (BD) Limited
Address	Plot No.180, Adamjee EPZ, Adamjee Nagar, Shiddirganj, Narayanganj
Country	Bangladesh
Telephone No	880-2-7691468, 9881861
Fax No	880-2-8827522
E-Mail	bd@texzipper.com
Website	www.texzipper.com
Established	2007
Company Registration No	C-70268
Registration date	3^rd March 2007
Legal Status	Public Limited
Issuing Authority	The Registrar of Joint Stock Companies & Firms, Dhaka
Business Type	Manufacturer & Seller
Status	*Satisfactory*
Payment Behavior	No complaints have been heard regarding payments from local suppliers or banks.

LOCATIONS

Head Office	Mohammadpur, Khandsa Road, Gurgaon 122001, Haryana, India
Telephone No	0091-124-4629100-99,4836100-99
Fax No	0091-124-2371462
E-Mail	tex@texzipper.com
Website	www.texzipper.com
Dhaka Office	House-196, Road-2 (west), 1^st Floor, Dohs, Baridhara, Dhaka-1206 Tel No: 880-2-7691468, 9881861 Fax No: 880-2-8827522
Factory	Plot No.180, Adamjee EPZ, Adamjee Nagar, Shiddirganj, Narayanganj
Factory Tel No	880-2-7691468
Factory Fax No	NIL
Warehouse	Plot No.180, Adamjee EPZ, Adamjee Nagar, Shiddirganj, Narayanganj

DIRECTORS

Name	Mr. Vijay Toley
Designation	Chairman & Managing Director
Nationality	Indian

Name	Mr. D Kumar
Designation	Country Director
Nationality	Indian

Name	Mr. Ajoy Kumar
Designation	Director
Nationality	Indian

SHAREHOLDERS

Name	Tex Corp Limited
Share Percent	100%
Country	India

BUSINESS DETAILS

Line of Business	Manufacturer & Seller
Items Dealing In	Metal Zippers
Terms of Purchase	Import: Against L/C Local: Cash or Credit
Terms of Sale	Local: Cash or Credit

BANKERS

Name	State Bank of India
Branch	Gulshan Branch
Address	Gulshan, Dhaka
SWIFT	N/A

Name	Standard Chartered Bank
Branch	Gulshan Branch

Auditors

Name

R T Sons

FINANCIAL INFORMATION

Year	2011	2010	2009
Investment	Tk.32 million	Tk.32 million	Tk.30 million
Turnover	Tk.326.6 million	Tk.326 million	Tk.324 million
Liability	Tk.5.5 million	Tk.6 million	Tk.8 million
Assets	Tk.46 million	Tk.46 million	Tk.44 million

CAPITAL STRUCTURE

Authorized Capital	Tk.20 million
Paid Up Capital	Tk.3 million
Each Share Value	Tk.100.00

CURRENCY EXCHANGE RATE

Currency	Unit	Bangladeshi Taka (BDT)
Great Britain Pound	1	131.1049
U.S Dollar	1	81.2600
European Euro	1	105.3211

ADVERSE DATA MONITORING

Dishonored Checks	No Found
Debt	No Found
Litigation	No Records Found
Performance Defaults	No Records Found
Adverse Press Coverage	No Records Found
Money Laundering	No Records Found

GENERAL INFORMATION

Employees	150
Office Area (Sq. Ft)	2,000 sq.ft (Owned)
Factory Area (Sq. Ft)	50,000 sq.ft (leased)
Warehouse Area (Sq. Ft)	5,000 sq.ft.(leased)
Range of Products	4 L Type Coil Zippers 4 Spiral Coil Zippers 4 Invisible Zippers 4 Plastic Zippers 4 Metal Zippers
Major Clients	4 Local Export Oriented Garments Industries
Certifications	4 ISO 9001:2000
Parent Company	4 Tex Corp Limited, India
Subsidiaries / Affiliates	4 Tex Zippers, India 4 Tex Corp Tekstil Sanjayi Ve Ticaret A.S, Turkey
Member	4 Bangladesh Export Processing Zones Authority 4 Dhaka Chamber of Commerce and Industries (DCCI)

BUSINESS TREND & PROSPECT

Business Scale	Fairly Large
Business Trend	Growing
Management Capability	Good
Reputation	Good

Information parted by

(General Details)

Name	Mr. Nazrul
Designation	Accounts Manager
Date	07.11.2012

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.59
UK Pound	1	Rs.87.31
Euro	1	Rs.69.86

INFORMATION DETAILS

Report Prepared by :

PRL

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%)

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