MIRA INFORM REPORT

 

 

Report Date :

08.01.2014

 

IDENTIFICATION DETAILS

 

Name :

N.Z.D.Y. FLAX SPINNING LTD.

 

 

Registered Office :

5/1 (Old), 181 (New), "Khan Plaza" (5th & 6th Floor) Arambagh, Motijheel, Dhaka-1000,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

06.05.2008

 

 

Com. Reg. No.:

C-71118

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer and exporter of Linen yarn.   

 

 

No. of Employees :

120

 

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 :

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 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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

 

 

 

 

IDENTIFICATION DETAILS

 

Correct company Name

:

N.Z.D.Y. FLAX SPINNING LTD.

Head Office

:

5/1 (Old), 181 (New), "Khan Plaza" (5th & 6th Floor) Arambagh, Motijheel, Dhaka-1000, Bangladesh.

Tel No

:

88-02-7192428, 7194385, 7103042                                                                               

Fax No

:

88-02-7195371

E-mail

:

nztextileltd@yahoo.com, lipu@nzgrouobd.com, Jointextile@yahoo.com

Website

:

Nil

Date/ Year of Incorporation

:

06.05.2008

Incorporation No.

:

C-71118

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

July’ 11~June’ 12

Tk. 272 Million

Tk. 28.5 Million

Tk. 4.62 Million

July’ 12~June’ 13

Tk. 305 Million

Tk. 30 Million

Tk. 17.27 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

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Md. Kanchan Ali.

Designation

:

Manager.

Contract No

:

01711105928

 

                                                               Locations Details

 

Operating Address

:

5/1 (Old), 181 (New), "Khan Plaza" (5th & 6th  Floor) Arambagh, Motijheel, Dhaka-1000, Bangladesh

Tel No

:

88-02-7192428, 7194385, 7103042                                                                               

E-mail

:

nztextileltd@yahoo.com, lipu@nzgrouobd.com, Jointextile@yahoo.com

Fax No

:

88-02-7195371

Website

:

Nil

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

2500

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

:

Bulta, Rupgong, Bangladesh.

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

2.5

Acores

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

30

In Factory

:

90

In Branch:

:

-

Total

:

120

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Md Saleudh Zaman

                                20000

Mr. Nadiruzzaman Khan

                                10000

Mrs. Salina Khanam

                                  7500

Mr. Saiduzzaman Khan

                                12500

 

 

DIRECTORS

 

Name

Designation

Mrs. Salena Khannam                                                                                                                                

Chairman

Mr. Saleudhzaman Khan

Managing Director

Mr. Nadiruzzaman Khan

Director

 

 

MANAGEMENT

 

Name

:

Mr. Gazi Imamul Hoq Lipu.

Job Description

:

Commercial Officer.

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Md. Kanchan Ali

Job Description

:

Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01711105928

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Linen yarn.   

Production Capacity

:

4 Tons per day.

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

:

FW-Canada, Regatta-Canada

Kappa – Italy.

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

China, India, Korea.

 

 

 

Brand Name

:

N/A

Certified

:

Nil

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association Dhaka.

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

Tk. 10 Million.

 

Paid-up Capital

:

Tk. 50, 00,000

    No. of Shares

:

50, 000

Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 30 Million.

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update full financial figure to local registry office.

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

N.Z. Textile LTD.

N.Z. Spinning LTD.

Nuruzzaman Khan & Co. LTD.

N.Z. Fabrics LTD.          

M/S. Khan Construction

Joni Textile Mills

M/S. Nuruzzaman Khan

Joni Finishing Mills

M/S. Khan Fisheries

M/S. Khan Traders                    

Subsidiary

:

N/A

Name of  The Group

:

NZ Group.

 

 

BANKING

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

Bank Address

:

Head Office Complex.

Islami Bank Tower, 40 Dilkusha C/A,

Dhaka-1000

Phone: (02) 9563182, PABX-(02) 9563040

Mobile: 01711693908, 01714034155

Fax: (02) 9564532

Email: hocc@islamibankbd.com

 

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

 

subject company is a private limited company engaged in Manufacturer & Exporter of T-Shirts, Polo Shirts. Its head office is situated 5/1 (Old), 181 (New), "Khan Plaza" (5th & 6th Floor) Arambagh, Motijheel, Dhaka-1000, Bangladesh. They get good support from their buyers.

 

Mr. Saleudhzaman Khan-Managing Director of the company. He is very experienced businessman in this line of trade.

 

We checked the local registry office & found that information’s.

 

The company is good for normal business engagements.                                                                                                                                                                                                       

 

 

GENERAL COMMENTS

 

Repeated attempts to obtain and verify information from SC were unsuccessful as they declined all information citing confidentiality. Please note that our credit rating is based on information gathered from external sources as well as information obtained from past interviews. Hence, the maximum credit limit of USD 85000 is feasible.

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.38

UK Pound

1

Rs.102.25

Euro

1

Rs.84.97

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.