MIRA INFORM REPORT

Report No. :	323930
Report Date :	29.05.2015

IDENTIFICATION DETAILS

Name :	NOMAN TEXTILE MILLS LTD.
Registered Office :	Adamjee Court Main Building (4^th & 5^th Floor), 115-120, Motijheel C/A, Dhaka-1000
Country :	Bangladesh
Date of Incorporation :	05.12.1995
Com. Reg. No.:	C-29841
Legal Form :	Private Co
Line of Business :	Subject is manufacturer, distributor and exporter of gray fabrics
No. of Employee :	2500

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	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, 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

Company name

NOMAN TEXTILE MILLS LTD.

IDENTIFICATION DETAILS
Correct company Name	:	NOMAN TEXTILE MILLS LTD.
Head Office	:	Adamjee Court Main Building (4^th & 5^th Floor), 115-120, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9558629, 9569669, 9577069
Fax No	:	88-02-9565282
E-mail	:	nomangr@bangla.net, sales@znzfab.com
Website	:	www.nomangroup.com
Date/ Year of Incorporation	:	05.12.1995
Incorporation No.	:	C-29841
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)

Year	Turnover/ Sales	Assets		Income
July’ 12~June’ 13	BDT 2148.00 Million	BDT 2761.50 Million		BDT 83.77 Million
July’ 13~June’ 14	BDT 2295.80 Million	BDT 2805.69 Million		BDT 89.53 Million
Comments	SC,s submitted updated financial report to local registry office
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	:	Muniruzaman Chowdury
Designation	:	Senior Commercial Officer.
Contract No	:	N/A

Locations Details
Operating Address	:	Adamjee Court Main Building (4^th & 5^th Floor), 115-120, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9558629, 9569669, 9577069
Fax No	:	88-02-9565282
E-mail	:	nomangr@bangla.net, sales@znzfab.com
Website	:	www.nomangroup.com

Location :

: Owned

Ö

Rented

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	:	Mulaid, Sreepur, Gazipur, Bangladesh.
Tel No	:	88-01714071475
Fax No	:	-

Location :

Owned

Ö

Rented

Leased

Area

647.7

Decimals

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

Employee:
No. of Employees	In Office	:	85	In Factory	:	2415
	In Branch:	:	-	Total	:	2500
Details:

Names of Shareholders	No. of Share
Mr. Mohammad Nurul Islam	8500
Mr. A. S. M. Rafiqul Islam	3000
Mr. Abdullah Mohammad Zaber	3000
Mr. Abdullah Mohammad	3000
Mr. Abdullah Mohammad Talha	3000
Mrs. Noor-e- Easmin Fatema	3000

Name	Designation
Mr. Mohammad Nurul Islam	Managing Director
Mr. A. S. M. Rafiqul Islam	Director
Mr. Abdullah Mohammad Zaber	Director
Mr. Abdullah Mohammad	Director
Mr. Abdullah Mohammad Talha	Director
Mrs. Noor-e- Easmin Fatema	Director

Name	:	Mr. Shafiqur Rahman
Job Description	:	Manager( HR, Admin & Compliance)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Muniruzaman Chowdury
Job Description	:	Senior Commercial Officer.
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor	Ö
	Exporter	Ö	Importer	Services	Others

Range of Products:
Products	:	Gray Fabrics
Production Capacity	:	31.4 Mill. MTR 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

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			:	N/A
Auditors			:	N/A
Operation Status			:	Active
Member			:	Bangladesh Textile Mills Association

Authorized Capital	:	BDT 100 Million
Paid-up Capital	:	BDT 23, 50,000	No. of Shares	:	23500	Share Value	:	BDT 100.00Each
Main Assets	:	BDT 2805.69 Million

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

Sister Concerns	:	Sufia Cotton Mills Ltd. Artex Fabrics Ltd. Talha Tex-pro Ltd. Talha Fabrics Ltd. Sufia Fabrics Ltd. Noman Fabrics Ltd Zubair & Brother Ltd. Zarba Textile Mills Ltd. Ismail Textile Mills Ltd. Zaber Spinning Mills Ltd Mariom Textile Mills Ltd. Talha Spinning mills Ltd. Zaber Spinning Mills Ltd. Marium Textile Mills Ltd. Zubair Spinning Mills Ltd. Noman Weaving Mills Ltd. Zaber & Zubair Fabrics Ltd. Saad-Saan Textile Mills Ltd Noman Composite Mills Ltd. Noman Home Textile Mills Ltd Zaber & Zubair Accessories Ltd.
Subsidiary	:	N/A
Name of The Group	:	Noman Group

Bank Name	:	One Bank Ltd.
Bank Address	:	Motijheel Branch Sharif Mansion (Ground Floor) 56-57, Motijheel C/A Dhaka, Bangladesh Phone: 88-02-9564191, 9566896, 9570544 Mobile: 01730-098659 Fax: 88-02-9563746 SWIFT: ONEBBDDH020
Bank Name	:	Bank Alfalah Ltd.
Bank Address	:	Motijheel Branch 5,Rajuk Avenue, Motijheel CA, Dhaka, Bangladesh Tel: 880-2-7168821-05 Fax: 880-2-9557413

Bank Name	:	Jamuna Bank Ltd
Bank Address	:	Motijheel Branch

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 Adamjee Court Main Building (4th & 5th Floor), 115-120, Motijheel C/A, Dhaka-1000, Bangladesh. It is situated at commercial area which is a well decorated modern office.

The subject company is engaged in manufacturer, Exporter & distributors. It is reputed company in this line of business. We recommended that Credit can proceed normally in Moderate amount.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.98
UK Pound	1	Rs.98.16
Euro	1	Rs.69.74

INFORMATION DETAILS

Analysis Done by :	DIV
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%)

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.