MIRA INFORM REPORT

 

 

Report No. :

322465

Report Date :

26.05.2015

           

IDENTIFICATION DETAILS

 

Name :

NAZ BANGLADESH LTD.

 

 

Registered Office :

Anannya Shopping Complex, Lane# 13, New DOHS Baridhara, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

02.10.2005

 

 

Com. Reg. No.:

C-39677

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer, Dyeing, Printing, Exporter and Embroidery of All kinds of Knit Items

 

 

No of Employees :

3000

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Bangladesh

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate 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, accounted for more than 80% of total exports and surpassed $18 billion in 2014. 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 $14 billion and 8% of GDP in 2014 - are the largest contributors to Bangladesh’s current account surplus and rising foreign exchange holdings.

 

Source : CIA

 

 

IDENTIFICATION DETAILS

 

Correct company Name

:

Naz Bangladesh Ltd.

Head Office

:

Anannya Shopping Complex, Lane# 13, New DOHS Baridhara, Dhaka-1212, Bangladesh. 

Tel No

:

88-02-9841735

Fax No

:

88-02-9889078

E-mail

:

info@nazbd.com, nasir@nazbd.com, zulfia@nazbd.com

Website

:

www.nz-bd.com

Date/ Year of Incorporation

:

02.10.2005

Incorporation No.

:

C-39677

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’ 12~June’ 13

BDT  1241.65 Million

BDT  1395.54 Million

BDT  86.87 Million

July’ 13~June’ 14

BDT  1531.20 Million

BDT  1448.28 Million

BDT  107.17Million

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. Mohammed Hafizur Rahman

Designation

:

Officer(Procurement)

Contract No

:

88-01711488391

 

 

 

 

                                                               Locations Details

Operating Address

:

Anannya Shopping Complex, Lane# 13, New DOHS Baridhara, Dhaka-1212, Bangladesh. 

Tel No

:

88-02-9841735

Fax No

:

88-02-9889078

E-mail

:

info@nazbd.com, nasir@nazbd.com, zulfia@nazbd.com

Website

:

www.nz-bd.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

2600

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

:

5, Bishuya Kuribari, Rajendrapur, Mirzapur, Gazipur-1700, Bangladesh.

Tel No

:

88-02-9289054-6

Fax No

:

88-02-9289053

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

2,18,000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

80

In Factory

:

2920

In Branch:

:

-

Total

:

3000

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Nasir Uddin Ahmed

                                      800

Mrs. Zulfia Yasmin

                                      800

Mr. Mosharof Hossain Howlader

                                      200

Mr. Jamal Uddin Ahmed

                                      200

 

 

DIRECTORS

 

Name

Designation

Mr. Nasir Uddin Ahmed

Managing Director

Mrs. Zulfia Yasmin

Director

Mr. Mosharof Hossain Howlader

Director

Mr. Jamal Uddin Ahmed

Director

 

 

MANAGEMENT

 

Name

:

Mr. Mohammed Hafizur Rahman

Job Description

:

Officer (Procurement)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01711488391

 

 

 

Name

:

Mr. Shamim Akter Khan

Job Description

:

Officer (Sales)

Nationality

:

Bangladeshi

Email address

:

shamim@nz-bd.com, shamim@nazbd.com

Other details

:

01711689109

 

Name

:

Mr. Nazmul Shishir

Job Description

:

Officer (Sales)

Nationality

:

Bangladeshi

Email address

:

Nazmul.shishir@nazbd.com

Other details

:

01730797127

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Dyeing

Ö

Printing

Ö

Distributor

 

 

 

 

Exporter

Ö

Embroidery

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

All kinds of Knit Items.

Production Capacity

:

Garments: 1,00,000 PCs per day

Dyeing: 30 Tons per day

Embroidery: 20,000 pcs per day

Print: 5,500 pcs 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

:

Tesco, Next, Uniqlo, Zara, Mango, C & A, Zeeman

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

USa, Europe

 

Imports

:

China, India, Italy, Canada.

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Knitwear Manufacturers & Exports  Association

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 50 Million

 

Paid-up Capital

:

BDT 2,00,000

    No. of Shares

:

2000

Share Value

:

BDT 100.00Each

Main Assets

:

BDT  1448.28 Million

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

CA Knitwear Ltd.

NZ Accessories Ltd.

Needle Touch  Garments Ltd.

Subsidiary

:

N/A

Name of  The Group

:

NZ Group

 

 

BANKING

 

 

Bank Name  

:

Exim Bank Ltd.

Bank Address

:

Motijheel Branch,

Sharif Mansion, 56-57, Motijheel C/A, Dhaka.

Phone: 88-02-9568534, 9552800, 9568093, 9554988, Dir-9553778

Fax: 880-2-9569983

 

Bank Name  

:

Al-Arafa Islami Bank Ltd.

Bank Address

:

Motijheel Branch

Rahman Mansion,161, Motijheel C/A Dhaka-1000

Ph: 88-02-9569350

Fax: 88-02-9567664

 

Bank Name  

:

Eastern Bank Ltd.

 

Bank Address

:

Principal Branch

Jiban Bima Bhaban

10, Dilkusha C/A Dhaka

Tel: 88-02-9554830, 9565696, 9556360,

 

 

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 Head office which is situated at Anannya Shopping Complex, Lane# 13, New DOHS Baridhara, Dhaka-1212, Bangladesh. It is   situated at Residential area which is a well decorated  modern office

 

 

GENERAL COMMENTS

SC is considered medium-sized in its line with fairly stable financial conditions.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.62

UK Pound

1

Rs. 98.50

Euro

1

Rs. 69.93

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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.