Background :

Naheed Composite Textile Mills Ltd. (hereinafter called “NCTML” or “the company”), a business unit of Naheed Group (NG), is one of the leading export oriented cotton yarn manufacturing company of the country. The company was incorporated on 17 March 2005 as a private limited company as the third successive business venture of the group. Started its operation with 30,000 spindles capacity, the company has currently been operating with 92,800 spindles having average product capacity of 40 MT per day and produce cotton yarn ranging from 3 to 82 counts yarn. The company was initiated and led by Mr. Md. Abdul Waheed having profound knowledge and experience in textile sector. The company started commercial operation in 08 October 2006 with a paid up capital of TK. 5.00 million (50,000 million share @ Tk. 100) which was subsequently been enhanced to TK. 305.00 million. The company enjoy working capital facility from bank which sanctioned as combined limit for the group. The company is built on 06.19 acres land at Mirapur, Tangail having factory plinth of 2,50,000 sft with all utility facilities. The Head Office of the company is located at BSRS Bhaban (12th Floor), 12 Kawran Bazar, Dhaka and the factory is located at Gorai, Mirzapur, Tangail.

IT in MIS and Internal control :

Being a textile company of Bangladesh, the IT system of NCTML is yet to arrive at satisfactory level. The company uses in-house developed software (front end visual basic) which is used for accounting, inventory management and sales process. However, the company does not have any separate IT department for maintaining the system. Although the company has an internal audit team comprising of four executives of accounts department and an adviser (Retired Sr. Banker) to ensure structured internal control procedures to safeguard the assets, promote operating efficiency and ensuring compliance with applicable policies and regulations.