3decades

MIRA INFORM REPORT

Report No. :	487985
Report Date :	29.01.2018

IDENTIFICATION DETAILS

Name :	ZARINA COMPOSITE TEXTILE INDUSTRIES LTD.

Registered Office :	10/1, City Heart (9^th Floor), 67, Nayapaltan, Dhaka-1000

Country :	Bangladesh

Date of Incorporation :	17.12.2000

Com. Reg. No.:	C-42093

Legal Form :	Private Company

Line of Business :	Manufacturer, Exporter and Importer of Yarns.

No. of Employees :	2500

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

Status :	Good

Payment Behaviour :	Regular

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

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

COMPANY NAME

ZARINA COMPOSITE TEXTILE INDUSTRIES LTD.

EXECUTIVE SUMMARY

*IDENTIFICATION DETAILS*
Correct company Name	:	Zarina Composite Textile Industries Ltd.
Head Office	:	10/1, City Heart (9^th Floor), 67, Nayapaltan, Dhaka-1000, Bangladesh
Tel No	:	88-02-9330609, 9331510, 9343436
Fax No	:	N/A
E-mail	:	zctl@anandagroup.biz
Website	:	Nil
Date/ Year of Incorporation	:	17.12.2000
Incorporation No.	:	C-42093
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)

Other Registry & Certification Details

Organization Name	:	Bangladesh Textile Mills Association
Membership No	:	N/A

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income/ (Loss)
30^th June’2015	BDT 1428 Million	BDT 805.24 Million	BDT 78.54 Million
30^th June’2016	BDT 1553 Million	BDT 841.90 Million	BDT 85.67 Million

FULLCHECK REPORT DETAILS

*Information Parted By*
Name	:	Mr. A.H.M. Mahabub Alam Sarkar
Designation	:	Assistant General Manager (Admin)
Contract No	:	88-01720502785

*Locations Details*
Operating Address	:	10/1, City Heart (9^th Floor), 67, Nayapaltan, Dhaka-1000, Bangladesh
Tel No	:	88-02-9330609, 9331510, 9343436
Fax No	:	N/A
E-mail	:	zctl@anandagroup.biz
Website	:	www.anandagroup.biz

Location :

: Owned

Rented

Leased

Area

3500

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	:	Nisantnagar, Tongi, Gazipur, Bangladesh.
Tel No	:	88-02-9810279
Fax No	:	Nil

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

Employee:

No. of Employees	In Office	:	200	In Factory	:	2300
	In Branch:	:	N/A	Total	:	2500
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mrs. Afruja Bari	9500
Mr. Abdullahel Bari	9500
Mr. Tarikul Islam	9500
Mrs. Abdullah Zarina Zafreen	9500
Mrs. Abdullah Nazma Nawroz	9500
Mrs. Abdullah Nahid Niger	2500

DIRECTORS

Name	Designation
Mrs. Afruja Bari	Managing Director
Mr. Abdullahel Bari	Director

MANAGEMENT

Name	:	Mrs. Afruja Bari
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Salim Miaha
Job Description	:	Assistant General Manager (HR)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. A.H.M. Mahabub Alam Sarkar
Job Description	:	Assistant General Manager (Admin)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	88-01720502785

Name	:	Mr. Kazi Saiful Arif
Job Description	:	Officer (HR)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor

	Exporter	Ö	Importer	Ö	Services	Others

Range of Products :

Products	:	Yarns.
Production Capacity	:	7.90 M. Kgs per Year
Last Year Production	:	4.96 m. Kgs

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			:	N/A
		Local Clients			:	N/A
		Overseas Suppliers			:	N/A
		Local Suppliers			:	N/A
Trade Markets	:	Exports(Country)			:	Europe
		Imports(Country)			:	China, India
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE

Authorized Capital	:	BDT 50 Million

Paid-up Capital	:	BDT 5,00,00,000

No. of Shares	:	50,000

Share Value	:	BDT 1000.00 Each

Main Assets	:	BDT 841.90 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns

Ananda builder Ltd.

Ananda Bag Mill Ltd.

Ananda El-Dorado Ltd.

Ananda International Ltd

Ananda Shipping Lines Ltd.

Ananda Shipyard & Slipways Ltd.

Subsidiary

Nil

Name of The Group

Ananda Group

BANKING

Bank Name	:	Islami Bank Bangladesh Ltd.
Bank Address	:	Kawran Bazar Branch, T. K. Bhaban (1^st Floor), 13, Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh Tel: 88-02-9137571, 8155211 Fax: 88-02-8117587

Bank Name	:	Bangladesh Development Bank Limited
Bank Address	:	Principal Branch 8, Rajuk Avenue, Motijheel, Dhaka-1000, Bangladesh Tel: 88-02-9558326

Bank Name

NCC Bank

Bank Address

Foreign Exchange Branch

29/A, Toyenbee Circular Road, Motijheel C/A, Dhaka, Bangladesh

Tel: 88-02-9570139, 9559151, 9556765

Fax: 88-02-9570727

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 10/1, City Heart (9th floor), 67 Nayapaltan, Dhaka-1000, Bangladesh. It is Situated at Commercial area.

GENERAL COMMENTS

The subject company is a well-known reputed company in Bangladesh. 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	INR 63.50
UK Pound	1	INR 90.92
Euro	1	INR 79.07
BDT	1	INR 0.76

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

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIT

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.