MIRA INFORM REPORT

Report No. :	315085
Report Date :	08.04.2015

IDENTIFICATION DETAILS

Name :	NOKON LTD

Registered Office :	House#143, Road#13/B, Block# E, Banani, Dhaka-1213

Country :	Bangladesh

Date of Incorporation :	19.05.1986

Legal Form :	Private Co

Line of Business :	Subject is engaged in Importer, Repacking & Distributor of Pesticides

No. of Employee :	50

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Bangladesh

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

Company name

NOKON LTD



*IDENTIFICATION DETAILS*
Correct company Name	:	Nokon Ltd
Head Office	:	House#143, Road#13/B, Block# E, Banani, Dhaka-1213 , Bangladesch
Tel No	:	88-02-9840585
Fax No	:	N/A
E-mail	:	nokongroup@hotmail.com, info@nokongroup.com
Website	:	www.nokongroup.com
Date/ Year of Incorporation	:	19/05/1986
Incorporation No.	:	C-15562
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


Year	Turnover/ Sales	Assets	Income
July’ 12~June’ 13	BDT 56Million	BDT 16.50 Million	BDT 1.59 Million
July’ 13~June’ 14	BDT 84 Million	BDT 21.35 Million	BDT 3.10Million
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


*Information Parted By*

Name	:	Mr. Md. Enamul Haque
Designation	:	Senior Executive
Contract No	:	88-01926666099

*Locations Details*

Operating Address	:	House#143, Road#13/B, Block# E, Banani, Dhaka-1213 , Bangladesch
Tel No	:	88-02-9840585
Fax No	:	N/A
E-mail	:	nokongroup@hotmail.com, info@nokongroup.com
Website	:	www.nokongroup.com

Location :

: Owned

Rented

Leased

Area

1200

Sq. ft.

Type of Office :	: Commercial Office Bldg.		Semi-commercial office Bldg.
Retail shop		Industrial Park
Business Center		Home Office
Residential Bldg.	Ö

Factory:
Address	:	Siggathi, Mauna, Sreepur, Gazipur, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

10,00

Sq. ft.

Branches:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	5	In Factory	:	45
	In Branch:	:		Total	:	50
Details:


Names of Shareholders	No. of Share
Mr. Aziz Damji	400
Mr. Mohammad Shakir	400
Mr. Md Khalid Hossain Newly	200

Name

Designation

Mr. Aziz Damji

Chairman

Mr. Mohammad Shakir

Managing Director

Mr. Md Khalid Hossain Newly

Director

Name

Mr. Md. Enamul Haque

Job Description

Senior Executive

Nationality

Bangladeshi

Email address

N/A

Other details

88-01926666099

Nature of Activity :

Repackaging

Trader

Dealer

Distributor

Exporter

Importer

Services

Others

Range of Products :

Products	:	Pesticides
Production Capacity	:	N/A
Last Year Production	:	N/A

Trading Terms:

Purchasing Terms:	L/C	Ö	Cash		Others
	Credit :		30 days		60 days	Ö	90 days			days

Selling Terms :	L/C		Cash	Ö	Others
	Credit :	Ö	30 days		60 days		90 days			days

Trade Reference & Related Parties

Overseas Clients

N/A

Local Clients

N/A

Overseas Suppliers

N/A

Local Suppliers

N/A

Trade Markets

Exports

N/A

Imports

China, India

Brand Name

Nil

Certified

Nil

Auditors

Nil

Operation Status

Active

Member

N/A

Authorized Capital

BDT 1 Million

Paid-up Capital

BDT 100000

No. of Shares

1000

Share Value

BDT100.00Each

Main Assets

BDT 21.35 Million


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

Sister Concerns	:	Riwayat Planet Pharma Limited Nokon Food Industry Limited Village Restaurant & catering Ltd. Max-Zealer Cosmetics (Pvt.) Limited
Subsidiary	:	Nil
Name of The Group	:	N/A


Bank Name	:	Brac Bank
Bank Address	:	Gulshan Branch House # 50 (Gf), Road # 03, Gulshan 1, Dhaka-1212, Bangladesh Fax: 88-02-8818624

Bank Name	:	National Bank of Pakistan
Bank Address	:	Gulshan Branch 80-Gulshan Avenue Dhaka-1212, Bangladesh


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

Our representative visited the subject company Head Office which is situated at House#143, Road#13/B, Block# E, Banani, Dhaka-1213 , Bangladesh. It is situated at Residential area.

The subject company is engaged in Importer, Repacking & Distributor. The subject company maintains acceptable business volume. Based on the financial statements, SC’s financial performance appears to be Fair.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.33
UK Pound	1	Rs.92.83
Euro	1	Rs.68.08

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	ASH

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.

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