MIRA
INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOMAN WEAVING MILLS LTD. |
|
|
|
|
Registered Office : |
Adamjee Court (4th Floor), 115 -120 MotiJheel C/A, Dhaka-1000 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
21.12.2005 |
|
|
|
|
Com. Reg. No.: |
C-60013 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter & distributors of Gray Fabrics |
|
|
|
|
No. of Employees : |
900 |
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 |
|
Status : |
Good |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
In real terms Bangladesh's economy has grown 5.8% 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 |
EXECUTIVE SUMMARY
|
IDENTIFICATION DETAILS |
||
|
|
||
|
Correct company Name |
: |
Noman Weaving Mills Ltd. |
|
Head Office |
: |
Adamjee
Court (4th Floor), 115 -120 MotiJheel C/A, Dhaka-1000, Bangladesh |
|
Tel No |
: |
88-
02-9578407-8, 9578402-4, 9569669 |
|
Fax No |
: |
880-2-9564336,
9565282 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/ Year
of Incorporation |
: |
21.12.2005 |
|
Incorporation No. |
: |
C-60013 |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
|
Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
2011 |
Tk.210 Million |
Tk.40 Crore |
Tk.2.65
Million |
|
|
2012 |
Tk.215 Million |
Tk.41 Crore |
Tk.2.80 Million |
|
|
Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
||
|
Sales Trend – Analysis: |
|||||||||
|
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
|
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
Information Parted By |
||
|
|
|
|
|
Name |
: |
Mr.
Monirul Islam |
|
Designation |
: |
Ass.
General Manager |
|
Contract No |
: |
- |
|
Locations Details |
||
|
|
||
|
Business Address |
: |
Adamjee Court (4th Floor), 115 -120 MotiJheel C/A, Dhaka-1000, Bangladesh |
|
Tel No |
: |
88-
02-9578407-8, 9578402-4, 9569669 |
|
E-mail |
: |
880-2-9564336,
9565282 |
|
Fax No |
: |
monirplal@znzfab.com |
|
Website |
: |
www.nomangroup.com |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
2400 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
|
Factory: |
|
|
|
|
|
|
|
Address |
: |
Mowua, Sreepur,
Gazipur, Bangladesh |
|
Tel No |
: |
88-02-09606500450 |
|
Fax No |
: |
- |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
2.5 |
Acores. |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of
Employees |
In Office |
: |
35 |
In Factory |
: |
865 |
||
|
In Branch: |
: |
- |
Total
|
: |
900 |
|||
|
Details: |
- |
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Mr. Imran Ahmed
Chowdhury |
63000 |
|
Mr. Abdullah
Jobair |
30300 |
|
Mr. Md. Nurul
Islam |
30300 |
|
Mr. Md. Abdullah
Al- Mamun |
55000 |
|
Mr. Abdullah
Zaber |
30300 |
|
Mr. Abdullah
Mohammad Talha |
30300 |
|
Ms.
Nur-E-Yesmain Fatema |
30300 |
|
Mr. A.S.M.
Rafiqul Islam |
30300 |
DIRECTORS
|
Name |
Designation |
|
Mr.
Imran Ahmed Chowdhury |
Managing
Director |
|
Mr.
Abdullah Jobair |
Director |
|
Mr.
Md. Abdullah Al- Mamun |
Director |
MANAGEMENT
|
Name |
: |
Mr. Khairul
Islam |
|
Job Description |
: |
General
Manager |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
- |
|
Other details |
: |
- |
|
Name |
: |
Mr.
Monirul Islam |
|
Job Description |
: |
Ass.
General Manager |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
monirplal@znzfab.com |
|
Other details |
: |
- |
BUSINESS OPERATIONS
|
Nature of
Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
Exporter |
Ö |
Importer |
|
Others |
|
|
|
|
Range of Products/Item Dealings In: |
||
|
|
||
|
Products |
: |
Gray
Fabrics |
|
Production
Capacity |
: |
32.56
million meters per year |
|
Last Year Production |
: |
Do |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
|
Selling
Terms : |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED DATA
|
Trade Reference & Related Parties |
: |
Overseas
Clients |
: |
N/A |
Local
Clients |
: |
N/A |
|
|
Overseas
Suppliers |
: |
N/A |
Local
Suppliers |
: |
N/A |
|||
|
Trade Markets |
: |
Exports |
: |
Europe |
||||
|
Imports |
: |
China, India |
||||||
|
Brand Name |
: |
N/A |
||||||
|
Certified |
: |
Nil |
||||||
|
Auditors |
: |
N/A |
||||||
|
Operation Status |
: |
Active |
||||||
|
Member |
: |
Bangladesh Textile Mills Association, Dhaka |
||||||
CAPITAL STRUCTURE
|
Authorized
Capital |
: |
Tk.50 crore |
||||||
|
Paid-up Capital |
: |
Tk.3,00,00,000 |
No.
of Shares |
: |
3,00,000 |
Share Value |
: |
Tk.100.00Each |
|
Main Assets |
: |
Tk.41 Crore |
||||||
FINANCIAL STATEMENT- DETAILED |
|
The subject company don’t submit update
financial figure to local registry office. |
|
Sister Concerns |
: |
Saad Saan Apparels Ltd. Artex Fabrics Ltd. Zaber & Zubair Fabrics Ltd. Sufia Cotton Mills Ltd. Talha Spinning Mills Ltd Mariom Textile Mills Ltd. Noman Fabrics Ltd Zaber Spinning Mills Ltd Noman Textile Mills Ltd. Talha Tex-pro Ltd. Zaber & Zubair Accesories Ltd. Zarba Textile Mills Ltd. Yasmin Spinning Mills Ltd. Noman Weaving Mills Ltd. Zaber Spinning Mills Ltd Zubair Spinning Mills Ltd. Talha Fabrics Ltd. Noman Home Textile Mills Ltd Sufia Fabrics
Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Noman
Group |
BANKING
|
Bank Name
|
: |
Islami Bank
Bangladesh Ltd |
|
Bank Address |
: |
Local Office, 75, Motijheel C/A, Dhaka-1000 Phone: 88-02-9571201-2, 9568187,
PABX-9552897 Email: ibbl@bttb.net.bd, ibbllofx@aitlbd.net Fax: 880-2-9561105, 9561995 Mobile: 01711-694317 |
|
|
||
|
Bank Name
|
: |
Dutch Bangla Bank Ltd. |
|
Bank Address |
: |
Motijheel
Branch, Zerin Mansion, 55, Motijheel Commercial
Area, Dhaka-1000 Bangladesh |
ADVERSE DATA MONITORING
|
Dishonored Checks |
:
|
No Record Found |
|
Debt |
: |
No Record Found |
|
Litigation |
: |
Clear |
|
Performance Defaults |
: |
No Record Found |
|
Adverse Local Media Coverage/ Adverse
Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
|
Our representative visited the subject Head office at Adamjee Court
(4th Floor), 115-120, Motijheel
C/A, Dhaka -1000, Bangladesh which is commercial area. |
GENERAL COMMENTS
|
Based on the
financial statement, the subject company financial performance appears to be Average. The subject company has been in its
line of business about 8 years. Taking into account its standing history,
reputation in the market, as well as its financial condition, we recommend
that Credit can proceed promptly in Fairly large amount |
|
Adopted Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.11 |
|
UK Pound |
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.