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MIRA INFORM REPORT
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Report No. : |
495157 |
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Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
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Name : |
N.Z. FABRICS LTD |
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Registered Office : |
Khan Plaza, 181, Arambagh (Old: 5/1), Motijheel, Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
11.12.2006 |
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Com. Reg. No.: |
C-64874 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Exporter, Importer of Woven |
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No. of Employees : |
700 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION
DETAILS |
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Correct company Name |
: |
N.Z. Fabrics Ltd. |
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Head Office |
: |
Khan Plaza, 181, Arambagh (Old: 5/1), Motijheel, Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-7192428, 7193042, 7194385 |
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Fax No |
: |
88-02-7195371 |
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E-mail |
: |
info@nzgroupbd.com, nztextileltd@yahoo.com |
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Website |
: |
www.nzgroupbd.com |
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Date/ Year of Incorporation |
: |
11.12.2006 |
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Incorporation No. |
: |
C-64874 |
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Legal Form (General) |
: |
Public Listed
Co Public (but not
listed) Private Co State-owned Co Sole
Proprietorships Partnership Not Registered others (please
specify) ________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please
specify) ________________ |
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Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms
City Corporation Municipal
Administration Union Council |
FINANCIALS-
SUMMARY
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Year |
Turnover/ Sales |
Assets |
Income/ (Loss) |
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30th June’ 15 |
BDT 752.68 Million |
BDT 335.69 Million |
BDT 95.79 Million |
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30th June’ 16 |
BDT 825.50 Million |
BDT 348.90 Million |
BDT 87.25 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr.
Kanchan Ali |
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Designation |
: |
Officer
(Commercial) |
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Contract No |
: |
88-01711105928 |
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Locations Details |
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Operating Address |
: |
Khan Plaza, 181, Arambagh (Old: 5/1), Motijheel, Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-7192428, 7193042, 7194385 |
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Fax No |
: |
88-02-7195371 |
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E-mail |
: |
info@nzgroupbd.com, nztextileltd@yahoo.com |
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Website |
: |
www.nzgroupbd.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
1400 |
Sq. ft. |
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Type of Office |
:
Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial
Park |
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Business Center |
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Home
Office |
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Residential Bldg. |
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Factory: |
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Address |
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Balaika, Vulta, Rupgong,
Narayangong, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Branch: |
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Address |
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House # 540/6, Road # 12,
Baridhara, DOHS, Dhaka-1206, Bangladesh |
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Tel No |
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88-02-8418360 |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
50 |
In Factory |
: |
650 |
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In Branch: |
: |
Nil |
Total
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700 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No.
of Share |
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Mr. Md. Nuruzzaman Khan |
9500 |
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Mr. Md. Saleudh Zaman Khan |
15000 |
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Mrs. Salena Khanam |
15000 |
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Mr. Md. Nadiruzzaman Khan |
10500 |
DIRECTORS
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Name |
Designation |
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Mr. Md. Saleudh Zaman Khan |
Managing Director |
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Mrs. Salena Khanam |
Director |
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Mr. Md. Nadiruzzaman Khan |
Director |
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MANAGEMENT
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Name |
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Mr.
Md. Saleudh Zaman Khan |
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Job Description |
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Managing
Director |
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Nationality |
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Bangladeshi. |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr.
Monirul Islam |
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Job Description |
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Executive
Director |
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Nationality |
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Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01712897404 |
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Name |
: |
Mr.
Kanchan Ali |
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Job Description |
: |
Officer
(Commercial) |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01711105928 |
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Name |
: |
Mr.
Md. Shaawkat Ali Miah |
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Job Description |
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General
Manager (Accounts & Finance) |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01711105928 |
BUSINESS
OPERATIONS
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Nature of Activity
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Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
Ö |
Services
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Others |
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Range
of Products: |
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Products |
: |
Woven |
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Production Capacity |
: |
Nil |
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Last
Year Production |
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Nil |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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days |
DETAILED
DATA
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Trade Reference & Related Parties |
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Overseas Clients |
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Nil |
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Local Clients |
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Nil |
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Overseas Suppliers |
: |
Nil |
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Local Suppliers |
: |
Nil |
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Trade Markets |
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Exports |
: |
Europe |
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Imports |
: |
India, China |
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Brand Name |
: |
N/A |
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Certified |
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N/A |
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Auditors |
: |
N/A |
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Operation Status |
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Active |
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Member |
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Bangladesh Garments
Manufacturer & Exporters Association |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 50 Million |
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Paid-up
Capital |
: |
BDT 5000000 |
No. of Shares |
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50000 |
Share Value |
: |
BDT100.00Each |
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Main
Assets |
: |
BDT 348.90 Million |
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FINANCIAL
STATEMENT- DETAILED
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Summary Information Given. |
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ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
N.Z Textile Ltd CA Knitwear Ld joni Textile Mills Needia Toucj Ltd N.Z. Spinning Ltd M/S. Khan Traders Joni Finishing Mills M/S. Khan Fisheries NZ Accessories Ltd NAZ Bangladesh Ltd M/S. Nuruzzaman.Khan M/S. Khan Construction N.Z.D.Y. Flax Spinning ltd. Needle Touch Garments Ltd Nuruzzaman Khan & Co.Ltd |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
NZ Group |
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BANKING
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Bank Name |
: |
CitGulshan
Branch |
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Bank Address |
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United House, 10, Gulshan Avenue,
Gulshan# 1, Dhaka, Bangladesh Tel: 88-02-8825206, 8853741,
8855363 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear
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Performance Defaults |
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No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
SITE
VISIT COMMENTARY
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Our representative visited the subject company Head Office
which is situated at Khan Plaza, 181, Arambagh (Old: 5/1), Motijheel,
Dhaka-1000, Bangladesh. It is situated
at Commercial Office Area. |
GENERAL
COMMENTS
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The subject company is engaged in Importer, Manufacturer
& Export. It is reputed company in this line of business. We recommended
that Credit can proceed normally in Moderate amount. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.23 |
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|
1 |
INR 89.71 |
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Euro |
1 |
INR 79.50 |
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BDT |
1 |
INR 0.78 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.