MIRA
INFORM REPORT
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Report Date : |
16th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
FALAT
SANG OF ASIA CO. |
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Registered Office : |
Phase 4, Moorcheh Khort Industrial
Area, Murche Khurt Isfahan Industrial Town , Isfahan, Iran |
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Country : |
Iran |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
19877 |
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Legal Form : |
Private Joint Stock Company |
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Line of Business : |
Manufacturers, distributors and exports of
engineered stones. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
RIAL 1,650,000,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
COmpany NAME
FALAT SANG OF ASIA CO
ADDRESS
Street : Phase 4, Moorcheh Khort Industrial Area
Area : Murche Khurt Isfahan Industrial Town
Town :
Isfahan
Country :
Iran
Telephone : (98 312) 565 3336-7 / 913 3299031 (Mobile)
Fax :
(98 312) 565 3338
SENIOR COMPANY PERSONNEL
Name Position
1. Morteza Talebi Managing
Director
2. Naser Sayydi Isfahani Director
3. Bahman Sayydi Isfhani Director
4. Fatemeh Moghadam Zadeh (Mrs) Sales Manager
5. Rahmat Sadeghi Financial
Manager
Total Employees : 60
PAYMENTS
No complaints have been heard regarding payments from local
suppliers or banks.
We consider it is acceptable to deal with
subject for MEDIUM amounts, although in view of the recent start of the
production international suppliers may wish to exercise a measure of caution
where larger or protracted dealings are envisaged.
Opinion on maximum credit : RIAL
1,650,000,000 (due attention will be given to above remarks).
Trade risk assessment : Normal (see above
comments)
Opinion on the credit figure of US DLRS
150,000 :
We consider the above figure to be within
the company's financial capabilities.
It is normal accepted practice for
international suppliers to deal on secured terms with Iranian importers.
SIGNIFICANT CHANGES
Manufaturing units
Subject was founded in 2004 to operate a
factory (built with the cooperation of Breton Italy Engineering Group) with the
capacity totaling 750,000 sq metre engineered stone. The production commenced
in April 2006.
Subject does not yet operate with the full
capacity due to lack of large orders.
PRINCIPAL BANKERS
NAME
: BANK TEJARAT
Branch
: Central Branch Khomini
Shar Square
PO Box
: 35
Town
: Isfahan 81494
Telephone :
(98 311) 226 9012
Fax
: (98 311) 226 2026
FINANCIAL INFORMATION
Under Iranian Company Law companies are
not required to publish or disclose balance sheets. However, the subject
interviewed offered the following
information :
Sales Turnover : US DLRS
50,000,000 - 2006 - projected
Net Profit : not
given
Total Invested Capital US DLRS 30,000,000
LEGAL STATUS AND HISTORY
Date Started : 2004
History :
The company was registered in Iran in 2004, the production started in February
2006.
C.R. No. :
19877
Capital :
RIAL 500,000,000
Sherkat Sahami Khass (private joint stock
company) with the following shareholders :
1. Morteza Talebi
2. Naser Sayydi Isfahani
3. Bahman Sayydi Isfhani
4. Undisclosed shareholders.
ACTIVITIES
The Company is involved in the following
activities :
Manufacturers, distributors and exports of
engineered stones.
Imports from Italy and India.
Exports to Germany and Australia.
FACILITIES
The Company has the following facilities :
Owned
100,000 sq metre plot of land comprising office premises and a factory *
(12,000 sq metre) with integrated facilities of located at the heading address
as well as a branch office in Tehran See (Branch
Office "Section" below).
* The production hall of the factory
comprises fully specialized laboratory, warehouse, raw material, production
section, quality control section and the warehouse and releasing section.
The company was previously located at:
Farvaidin Sang Complex
No 18 Stopl Refinery Roa
Isfahan
BRANCH OFFICES
4th Floor, No. 15, Pour Meshkati St. ,
Shariati Street
Tehran
Telephone :
021 228 72391
Fax
: 021 228 72392
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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