3decades

MIRA INFORM REPORT

Report No. :	495103
Report Date :	05.03.2018

IDENTIFICATION DETAILS

Name :	NOOR CHECKS AND STRIPES LTD.

Registered Office :	House # 200, Central Road, Lane-08, New DOHS Mahakhali, Dhaka-1206

Country :	Bangladesh

Financials (as on) :	30.06.2017

Date of Incorporation :	22.09.2003

Legal Form :	Private Co

Line of Business :	Manufacturer, Exporter & Importer of Yarn, Clothes, Garments

No. of Employees :	300

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 :	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

(30.09.2017)

Current Rating

(31.12.2017)

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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.

Source : CIA

EXECUTIVE SUMMARY

IDENTIFICATION DETAILS
Correct company Name	:	NOOR CHECKS AND STRIPES LTD.
Head Office	:	House # 200, Central Road, Lane-08, New DOHS Mahakhali, Dhaka- 1206, Bangladesh
Tel No	:	88-02-9860572, 8850770
Fax No	:	88-02-28837530
E-mail	:	radwan@noorchecks.net
Website	:	Nil
Date/ Year of Incorporation	:	22.09.2003
Incorporation No.	:	C-50565
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

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income/ (Loss)
30^th June’2016	BDT 356 Million	BDT 501.30 Million	BDT 7.63 Million
30^th June’2017	BDT 405 Million	BDT 523.85 Million	BDT 12.90 Million

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Redwan Ahmed
Designation	:	Manager
Contract No	:	88-01674086944

Locations Details
Operating Address	:	House # 200, Central Road, Lane-08, New DOHS Mahakhali, Dhaka- 1206, Bangladesh
Tel No	:	88-02-9860572, 8850770
Fax No	:	88-02-28837530
E-mail	:	radwan@noorchecks.net
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

1200

Sq. ft.

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

Factory:

Address	:	5, Bishaiya Kuribari Mouja, Rajendrapur, Gazipur, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Branch:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	50	In Factory	:	250
	In Branch	:	N/A	Total	:	300
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share	County
Mr. Muhammad Noor Uddin Khan	80000	Bangladesh.
Mr. Sameer Ahmed Khan	60000	Bangladesh.
Sophia Khan	60000	Bangladesh.

DIRECTORS

Name	:	Mr. Muhammad Noor Uddin Khan
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Sameer Ahmed Khan
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Sophia Khan
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT

Name	:	Mr. Sameer Ahmed Khan
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Redwan Ahmed
Job Description	:	Manager
Nationality	:	Bangladeshi.
Email address	:	radwan@noorchecks.net
Other details	:	88-01674086944

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributer

	Exporter	Ö	Importer	Ö	Services	Other

Range of Products:

Products	:	Yarn, Clothes, Garments
Production Capacity	:	N/A
Last Year Production	:	N/A
Import Products	:	N/A
Export Products	:	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

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)			:	India, China
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE

Authorized Capital	:	BDT 140 Million

Paid-up Capital	:	BDT 20000000

No. of Shares	:	200000

Share Value	:	BDT 100.00 Each

Main Assets	:	BDT 523.85 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Name of The Group	:	Nil
Name of Mother Company	:	Nil
Subsidiary	:	Nil
Sister Concerns	:	Nil

BANKING

Bank Name

Islami Bank Bangladesh Ltd

Bank Address

Gulshan AD Branch

PBL Tower, 17 North Gulshan, Dhaka-1212, Bangladesh

Tel: 88-02-8825424, 8837131, 8835396, 9882097, 9889959,

01711693915, 01714-161229, 01714161230

Fax: 88-02-8825424

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 House # 200, Central Road, Lane-08, New DOHS Mahakhali, Dhaka-1206, Bangladesh. It’s situated at a Commercial Area.

GENERAL COMMENTS

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 89.71
Euro	1	INR 79.50
BDT	1	INR 0.79

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

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	SDA

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.