ISLAMI BANK BANGLADESH LIMITED

CORPORATE INVESTMENT DIVISION-II

INVESTMENT WING
HEAD OFFICE, DHAKA

Board Memo No.2010/ Date: 29.06.2010

Sub: Proposal for changes in the management of the company-A/c. M/s. Unimex Textile Mills Ltd., a
client of Islampur Branch, Dhaka.

The subject proposal, the text of which is presented below, was placed before the EC in its 1425 th (adj.)
Meeting held on 29.06.2010 vide EC Memo No.2010/1116 dated 26.06.2010. The Executive Committee,
after threadbare discussion recommended the proposal to the Board for approval.
A. Background of the Client:
M/s. Unimex Textile Mills Ltd. is an export oriented composite dyeing project.

Summary of Sanction of the fresh Investment/ enhancement of Investment/ facilities allowed to the
Client: (Taka in million
Sanctioning Authority Name of the Mode of Amount of Remarks
with Date concern Investment Investment
The EC in its 821st Meeting HPSM (Project) 11.50 BMRE
held on 27.08.2002 M/s.Unimex
The EC in its 826th Meeting Textile Mills Ltd. HPSM (Project) 55.00 BMRE
held on 17.09.2002
The EC in its 876th Meeting HPSM (Project) 41.16 BMRE
held on 20.04.2003
The EC in its 1028th HPSM (Project) 85.00 BMRE
Meeting held on 25.08.2004
The EC in its 1167th Working capital 140.00 Renewal &
Meeting held on 10.10.2005 (TR 50.00) enhancement
The EC in its 1250th Working capital 160.00 Renewal &
Meeting held on 07.02.2007 (TR 70.00) enhancement
The EC in its 1379th M/s. Unimex Working capital 130.00 Renewal, Recasting
Meeting held on 03.08.2009 Textile Mills Ltd. (TR-70.00) & reduce.
The Board in its 169th Changes in the
Meeting held on 13.08.2009 Management
EC-1399th dt.29.12.2009 M/s. Unimex HPSM (Project) 147.94 1st time re-schedule
Textile Mills Ltd. Working capital 29.85 1st time re-schedule
EC 1404th dt.01.02.2010 M/s. Unimex HPSM (Project) 26.80 BMRE
Textile Mills Ltd.

M/s. Unimex Textile Mills Ltd. is a project of dying & finishing factory for woven fabrics. At first the
project investment was sanctioned for this factory on 2002 for import/purchasing some reconditioned
machinery. They have procured used machinery time to time for balancing production line from their own
source.
Janab Md. Abul Kalam Azad, Managing Director alongwith 6 (six) Directors of the company was
resigned from the company and the Board in its 169 th Meeting held on 13.08.2009 approved the changes
of the Management of the client company.
Now the client informed the branch that earlier they wrongly treated Jb. Md. Awal khan as Director of
the company. Accordingly, the Board of Directors of IBBL on 13.08.2009 approved the management of
the client company showing Jb. Md. Awal khan as Director of the client company.Actually, Jb. Md.
Awal khan is a share holder of the client company.
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Now the client has approached the branch for changes in the management of the client company showing
Jb. Md. Awal khan as shareholder instead of Directors.

01. Date of Banking with the Branch : 1992

02. Date of Availing Investment : 27.08.2002
03. Date of Original Sanction : 27.08.2002
04. Amount of last HPSM sanctioned : Tk.26.80 million
Means of finance (as per last sanction) (Taka in million)
Bank’s investment Client’s equity Total
Amount % Amount %
26.80 73% 9.70 27% 36.50

05. Amount of Working Capital Limit : Tk.130.00 million

06. Nature of Project : Weaving, dyeing and finishing project.
07. Location of Project : Sharifpur, Joydebpur, Gazipur
08. Date of Last Renewal of WC Limit : 18.08.2009
09. Date of Expiry of WC Limit : 17.08.2010
B. Particulars of the Client:
01. Name of the concern : M/s. Unimex Textile Mills Ltd.
02. Location of the Office : 109/110, Islampur Road, Dhaka
03. Location of the Factory : Sharifpur, Joydebpur, Gazipur
04. Constitution of the Company : Private Limited Company.
05. Nature of the business : Textile, Dying, and Finishing goods.
06. Capacity of the project : 28.00 million yard/year
07. Capital Structure :
08. Authorized Capital : Tk. 200.00 million
Paid up Capital : Tk. 95.00 million

09. Particulars of the Directors/Managements:

Existing Management Proposed Management
Name (%) Status Name (%) Status
of Shares of Shares
Haji Md. Samsul Haque 26% Chairman Haji Md. Samsul Haque 26% Chairman
S/o. Late Daulat Ali Bepari S/o. Late Daulat Ali Bepari
Saidul Haque Sajib 17.37% Managing Saidul Haque Sajib 17.37% Managing
S/o. Haji Md. Samsul Haque Director S/o. Haji Md. Samsul Haque Director
Mrs. Rezia Sultana 16.63% Director Mrs. Rezia Sultana 16.63% Director
W/o. Haji Md. Samsul Haque W/o. Haji Md. Samsul Haque
Ashraful Haq Satej 20% Director Ashraful Haq Satej 20% Director
S/o. Haji Md. Samsul Haque S/o. Haji Md. Samsul Haque
Zahura Haque Setu 8% Director Zahura Haque Setu 8% Director
D/o. Haji Md. Samsul Haque & D/o. Haji Md. Samsul Haque
W/o Md. Awal Khan & W/o Md. Awal Khan
Shamsunnahar Haque Nitu, D/o. 10% Director Shamsunnahar Haque Nitu, 10% Director
Haji Md. Samsul Haque D/o. Haji Md. Samsul Haque
Md. Awal Khan S/o Lokman 2% Director Md. Awal Khan S/o Lokman 2% Share
Khan Khan holder
Total 100% 100%

10. Present limit & liability of the Client:

a) With IBBL (Taka in million)
Name of the Mode Limit Outstanding Overdue Status
Concern Net Gross
M/s. Unimex HPSM (Project) 126.16 101.20 157.28 13.80 SMA
Textile Mills Ltd. Working Capital 130.00 75.80 88.28 22.73 STD, SMA
(TR-70.00)
Total 286.16 177.00 245.56 36.53*
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* The client assured to adjust the overdue liability by December-2010.

b. Liability as per CIB report Printed 21.06.2010 (Taka in million)

Name of the Concern Mode Limit Outstanding Overdue CL Status
M/s. Setu Corporation Overdraft 70.00 83.50 83.50 SMA
M/s. Unimex Textile Pledge 73.80 48.30 16.90 STD
LIM 15.00 12.90
PAD/BLC/BE 7.40 7.40 --
Other Dir. 261.30 191.10 11.00 STD
Guarantee 10.70 9.60 --
Other Indi. 3.30 3.20 --
Sub-total 371.50 272.50 27.90
Shamsul Haque Con 9Non-Crd) 1.20 1.00 0.10 SMA
Total 442.70 357.00 111.50*
* The client assured to adjust the overdue liability by December-2010.

11. Performance of the Client:

a. HPSM (Project) (Taka in
million)
Mode Limit Re-scheduled Due for Recovered Outstanding Overdue Remark
Recovery Net Gross
HPSM 126.16 101.20 13.80 --- 101.20 157.28 13.80* SMA
(Project)
* The client assured to adjust the overdue liability by December-2010.

b. Working capital (Taka in million)

Year Limit Investment turnover Sales Current A/C Income
turnover turnover earned
LC/Bills Mura Total Dr. Cr.
2005 160.00 47.25 29.53 76.78 12.60 42.85 42.85 3.61
2006 160.00 4.90 27.27 32.17 114.85 58.95 58.95 3.12
2007 160.00 21.94 62.92 84.86 139.97 61.30 61.31 13.79
2008 160.00 108.44 69.90 162.73 182.54 78.42 78.42 8.50
2009 130.00 41.92 60.68 102.60 121.25 48.21 48.21 17.65

12. Total security:

Project land & building : Tk.19.49 million
Existing machinery : Tk.85.55 million
Collateral : Tk.81.87 million
Total : Tk.186.91 million

C. Recommendation of the Branch :

Considering the Client’s business need, the Branch Incumbent of Islampur, Dhaka has recommended the
proposals for changes in the management of the company-A/c. M/s. Unimex Textile Mills Ltd.
D. Recommendation of Zonal Head:
The EVP & Zonal Head, Dhaka South zone, Dhaka has recommended the proposal as recommended
by the Branch.
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E. Audit observations and compliance thereof dated 20.08.2008:

Audit objection Reply of the Branch
C.S parcha not obtained Branch issued letter to the client to submit C.S parcha.

F. Head Office observations:

1. M/s. Unimex Textile Mills Ltd. (a composite dyeing project) was a sister concern of M/s. Adnan
Textile Ltd. They are doing business with IBBL since 1997.
2. The client informed the branch that earlier they wrongly treated Jb. Md. Awal khan as Director of the
company. Accordingly, the Board of Directors of IBBL on 13.08.2009 approved the management of
the client company showing Jb. Md. Awal khan as Director of the client company. Actually, Jb. Md.
Awal khan is a share holder of the client company.
3. Now the client has approached the branch for changes in the management of the client company
showing Jb. Md. Awal khan as shareholder instead of Director.
4. The client has over due liability Tk.36.53 million. The client assured to adjust the overdue liability by
December-2010.
5. To Change the CIB Data base with Bangladesh Bank, approval of changes in Management of the
client company is mandatory from the Board of Directors of the related Bank.

As recommended by the Executive Committee, the proposal is hereby placed before the Board for kind
consideration and if agreed, the following resolution may be adopted:

RESOLUTION
"Resolved that the proposal for changes in the management of the client company as under:
Existing Management Proposed Management
Name (%) Status Name (%) Status
of Shares of Shares
Haji Md. Samsul Haque 26% Chairman Haji Md. Samsul Haque 26% Chairman
S/o. Late Daulat Ali Bepari S/o. Late Daulat Ali Bepari
Saidul Haque Sajib 17.37% Managing Saidul Haque Sajib 17.37% Managing
S/o. Haji Md. Samsul Haque Director S/o. Haji Md. Samsul Haque Director
Mrs. Rezia Sultana 16.63% Director Mrs. Rezia Sultana 16.63% Director
W/o. Haji Md. Samsul Haque W/o. Haji Md. Samsul Haque
Ashraful Haq Satej 20% Director Ashraful Haq Satej 20% Director
S/o. Haji Md. Samsul Haque S/o. Haji Md. Samsul Haque
Zahura Haque Setu 8% Director Zahura Haque Setu 8% Director
D/o. Haji Md. Samsul Haque & D/o. Haji Md. Samsul Haque &
W/o Md. Awal Khan W/o Md. Awal Khan
Shamsunnahar Haque Nitu, D/o. 10% Director Shamsunnahar Haque Nitu, D/o. 10% Director
Haji Md. Samsul Haque Haji Md. Samsul Haque
Md. Awal Khan S/o Lokman 2% Director Md. Awal Khan S/o Lokman Khan 2% Share
Khan holder
Total 100% 100%

-A/c. M/s. Unimex Textiles Ltd., a client of Islampur Branch, Dhaka under the terms & conditions as
envisaged in the Memo be and is hereby approved.”

(MOHD. SHAMSUL HAQUE)

MANAGING DIRECTOR (CC)