MIRA INFORM REPORT

Report No. :	489794
Report Date :	05.02.2018

IDENTIFICATION DETAILS

Name :	N.Z.D.Y. FLAX SPINNING LTD.
Registered Office :	Khan Plaza (5^th & 6^th Floor), 181(Old-5/1), Arambagh, Motijheel, Dhaka-1000
Country :	Bangladesh
Date of Incorporation :	06.05.2008
Com. Reg. No.:	C-71118
Legal Form :	Private Co
Line of Business :	Manufacturer, Exporter and Importer of Linen Yarn.
No. of Employees :	255

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
Bangladesh	A2	A2

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 prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services 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 $25 billion in 2016. The sector continues to grow, despite a series of high-profile factory accidents that have killed more than 1,000 workers and crippling strikes, including a nationwide transportation blockade orchestrated by the political opposition during the first several months of 2015. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

Source : CIA

IDENTIFICATION DETAILS
Correct company Name	:	N.Z.D.Y. FLAX SPINNING LTD.
Head Office	:	Khan Plaza (5^th & 6^th Floor), 181(Old-5/1), Arambagh, Motijheel, Dhaka-1000, Bangladesh
Tel No	:	88-02-7192428, 7194385, 71903042, 01712897404
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
30^th June, 2016	BDT 613 Million	BDT 192 Million	BDT 34.21 Million
30^th June, 2017	BDT 656 Million	BDT 205.12 Million	BDT 37.44 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Md. Kanchan Ali
Designation	:	Manager (Commercial)
Contract No	:	88-01711105928

Locations Details
Operating Address	:	Khan Plaza (5^th & 6^th Floor), 181(Old-5/1), Arambagh, Motijheel, Dhaka-1000, Bangladesh
Tel No	:	88-02-7192428, 7194385, 71903042, 01712897404
E-mail	:	88-02-7195371
Fax No	:	nztextileltd@yahoo.com, lipu@nzgrouobd.com, jointextile@yahoo.com
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, Rupgonj, Narayangong Bangladesh.
Tel No	:	88-01718205307
Fax No	:	N/A

Location :

Owned

Ö

Rented

Leased

Area

2.5

Acores

Branch:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	31	In Factory	:	224
	In Branch:	:	-	Total	:	255
Details:

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share
Mr. Md. Saleudhzaman Khan	16500
Mr. Md. Saiduzzaman Khan	17000
Mr. Md. Nadiruzzaman Khan	16500

DIRECTORS
Name	Designation
Mr. Saleudhzaman Khan	Chairman
Mr. Saiduzzaman Khan	Managing Director
Mr. Nadiruzzaman Khan	Director

MANAGEMENT
Name	:	Mr. Saiduzzaman Khan
Job Description	:	Managing Director
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Hasem Gazi
Job Description	:	Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01749398179

Name	:	Mr. Md. Kanchan Ali
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01711105928

Name	:	Mr. Shaheb
Job Description	:	Assistant General Manager (Factory)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01718205307

Name	:	Mr. Gazi Imamul Hoq Lipu
Job Description	:	Officer (Commercial)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01711105928

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor
	Exporter	Ö	Importer	Ö	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 Kappa

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

Trade Markets

:

Exports(Country)

:

Europe

Imports(Country)

:

China, India, Korea.

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association

CAPITAL STRUCTURE
Authorized Capital	:	BDT 10 Million
Paid-up Capital	:	BDT 5000000
No. of Shares	:	50000
Share Value	:	BDT 100.00 Each
Main Assets	:	BDT 205.12 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group	:	NZ Group.
Subsidiary	:	N/A
Sister Concerns	:	N.Z. Textile LTD. N.Z. Fabrics LTD. Joni Textile Mills N.Z. Spinning Ltd M/S. Khan Traders Joni Finishing Mills M/S. Khan Fisheries M/S. Nuruzzaman Khan M/S. Khan Construction Nuruzzaman Khan & Co. LTD.
BANKING
Bank Name	:	Islami Bank Bangladesh Ltd.
Bank Address	:	Head Office Branch Islami Bank Tower, 40 Dilkusha C/A, Dhaka-1000, Bangladesh Tel: 88-02-9563182, 9563040 Fax: 88-02-9564532

Bank Name	:	Standard Charterad Bank
Bank Address	:	Gulshan Branch 67, Gulshan Avenue, Dhaka, Bangladesh

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 Khan Plaza (5^th & 6^th Floor), 181 (Old-5/1), Arambagh, Motijheel, Dhaka-1000, Bangladesh. It is situated at a Commercial Area.

GENERAL COMMENTS

The subject company is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.07
UK Pound	1	INR 91.34
Euro	1	INR 80.03
BDT	1	INR 0.77

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.