MIRA INFORM REPORT

 

 

Report Date :

21.06.2014

 

IDENTIFICATION DETAILS

 

Name :

TALHA FABRICS LTD.

 

 

Registered Office :

Adamjee Court Main Building (4th & 5th Floor), 115-120, Motijheel C/A, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

25.11.2007

 

 

Com. Reg. No.:

C-69096  

 

 

Legal Form :

Private Company  

 

 

Line of Business :

Manufacturer and Exporter of Grey Fabrics.   

 

 

No. of Employees :

1800

                                                                     

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BANGLADESH - ECONOMIC OVERVIEW

 

Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion last year, 18% of GDP. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s current account surplus and record foreign exchange holdings.

 

Source : CIA

 

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

TALHA FABRICS LTD.

Head Office                           :    Adamjee Court Main Building (4th & 5th Floor)

                                                   115-120, Motijheel C/A, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9558629, 9569669, 9577069,957731

Fax No

:

88-02-9565282

E-mail

:

nomangr@bangla.net,

sales@znzfab.com

monirplal@znzfab.com

Website

:

www.nomangroup.com

Date/ Year of Incorporation

:

25-11-2007

Incorporation No.

:

C-69096  

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

(Dec’11~ Dec’12)

Tk. 3424.04 Million

Tk. 3778.75 Million

Tk. 25.5 Million

(Dec’12~ Dec’13)

Tk. 3650.00 Million

Tk. 3865.00 Million

Tk. 45.00 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. Shafiqur Rahman

Designation

:

Manager (HR & Admin & Compliance)

Contract No

:

88-01711272276

 

                                                               Locations Details

 

Operating Address

:

Adamjee Court Main Building (4th & 5th Floor)

115-120, Motijheel C/A, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9558629, 9569669, 9577069,957731

E-mail

:

nomangr@bangla.net

sales@znzfab.com

monirplal@znzfab.com

Fax No

:

88-02-9565282

Website

:

www.nomangroup.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

2600

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

:

Purbo Vawal, Mirjapur, Tongi, Gazipur, Bangladesh.

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

58000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

N/A

Tel No

:

N/A

Fax No

:

N/A

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

100

In Factory

:

1700

In Branch:

:

-

Total

:

1800

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Abdullah Jubayer

                                  200

Mr. Abdullah Talha

                                  200

 

 

DIRECTORS

 

Name

Designation

Mr. Abdullah Jubayer

Managing Director

Mr. Abdullah Talha

Director

 

 

MANAGEMENT

 

Name

:

Mr. Monjurul Hoque.

Job Description

:

General Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01711272276

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Grey Fabrics.  

Production Capacity

:

6 Crore 23 Lac Metre.

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

:

Target, Wal Mart, K-Mart, Kappa, H&M.

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

China, India, Pakistan, Italy.

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Textile Mills Association, Dhaka.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 25 Crore

 

Paid-up Capital

:

Tk. 4, 00,000

    No. of Shares

:

400

Share Value

:

Tk.1000.00Each

Main Assets

:

Tk. 3865 Million

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Ismail Anjumanara Fabrics Ltd.

Zaber Spinning Mills Ltd.

Artex Fabrics Ltd.

Zaber & Zubair Fabrics Ltd.

Sufia Cotton Mills Ltd.

Talha Spinning Mills Ltd.

Mariom Textile Mills Ltd.

Noman Febrics Ltd.

Zaber Spinning Mills Ltd.

Noman Textile Mills Ltd.

Talha Tex-Pro Ltd.

Zaber & Zubair Accosories Ltd.

Zaber Textile Mills Ltd.

Yasmin Spinning Mills Ltd.

Saad-Saan Textile Mills Ltd.

Noman Weaving Mills Ltd.

Zubaiar Spinning Mills Ltd.

Noman Home Textile Mills Ltd.

Sufia Fabrics Ltd.

Subsidiary

:

N/A

Name of  The Group

:

Noman Group

 

 

BANKING

 

Bank Name  

:

Pubali Bank Ltd.

Bank Address

:

Motijheel Branch

Adamjee Court Annexe Building -2,

119-120, Motijheel C/A, Dhaka-1000

Phone: (02) 7175491-2, 9567225, 9562982

Fax: 88-02-9567223

Telex: 671543 PBLMJ BJ

SWIFT: PRBLBDDH001

Email: pblmotijheel@primebank.com.bd

 

Bank Name  

:

Brac Bank Ltd.

Bank Address

:

Motijheel Branch

107, Motijheel C/A, Dhaka

Phone: 88-02- 9550307, 9550382, 9562567

Fax: 88-02 7190374

 

Bank Name  

:

Standard Chartered Bank Ltd.

Bank Address

:

Gulshan Head office Branch,

67 Gulshan Avenue, Dhaka-1212, Bangladesh.

Tel: 880 2 8833003 – 4, 8957272, 8332272  

 

 

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 company address which is situated at Adamjee Court Main Building (4th & 5th Floor) 115-120, Motijheel C/A, Dhaka-1000, Bangladesh. The subject company Manager (HR & Admin & Compliance) Mr. Shafiqur Rahman given us all information. Is situated at commercial area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

Subject is mainly engaged in Manufacturer & Exporter. The subject company maintains acceptable business volume.

Based on the financial statements, SC’s financial performance appears to be average. Having been in operation for several years, Subject enjoys some recognition and impact in the line.

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.28

UK Pound

1

Rs.102.77

Euro

1

Rs.82.12

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NNA

 

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.