MIRA
INFORM REPORT
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Report Date : |
21.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
NARFOAM KAR COMPANY SSK |
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Registered Office : |
No 6, 4th Street Ahmad Ghasir Ave., Bukharest, Tehran |
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Country : |
Iran |
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Date of Incorporation : |
2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and distributors of steel pipe coating. |
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 250,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
COmpany NAME
NARFOAM KAR COMPANY SSK
(Correct)
NARFOAMKAR COMPANY
(Requested)
ADDRESS
Street : No 6, 4th Street Ahmad Ghasir Ave.
Area : Bukharest
Town : Tehran
Country : Iran
Telephone :
(98 21) 8873 3130 / 8852 7835 / 8852 7841
Fax : (98 21) 8874 0906 / 8851 4465
SENIOR COMPANY
PERSONNEL
Name Position
1. Khalil Kafeian Managing Director
2. Zohre Manzouri
(Mrs) Commercial
Manager
Total Employees
5 (administration)
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts, although it is normal accepted
practice for international suppliers to deal on secured terms with Iranian
importers.
Opinion on maximum credit
: RIAL 250,000,000
Trade risk assessment : Normal
Opinion on the credit
figure of US DLRS 1,500,000 :
We consider the above figure
to be beyond the Company's financial capabilities and recommend dealing on
fully secured terms.
TRADE REFERENCES
NAME :
NT K+D AG
Street :
Fabrikweg 1 CH-8634
Town :
Hombrechtikon
Country :
Switzerland
Telephone : 41 (0)55 254 54 54
Fax :
41 (0)55 254 54 55
PRINCIPAL BANKERS
NAME :
BANK SEPAH
Branch :
Imam Khomeini Square
PO Box :
11364-9569
Town :
Tehran
Telephone : (98 21) 311 1271 / 311 2392 / 311
1090
Fax :
(98 21) 311 9471 / 313 3935 / 311 2138
The company also has an
account with other local banks.
FINANCIAL INFORMATION
Under Iranian Company Law
companies are not required to publish or disclose balance sheets. However, the
subject interviewed offered the
following information applies to the affiliated company in UAE Dubai
Sales Turnover : US DLRS 10,000,000 - 2005 - exact
Net Profit :
not given
LEGAL STATUS AND
HISTORY
Date Started : 2000
Capital : not given
Sherkat Massouliate Mahdoud
(limited liability company) with the following shareholders :
1. Khalil Kafeian
2. Undisclosed
shareholders.
Affiliated companies of
Narfoam Kar Company Ssk :
Associates
Narfoam Kar Trading Co
LLC
Mohamad Sultan Belshalat
Building, 4Th Floor, Office 416 Zabeel Street Karama, Opp Al Attar Centre P.O.
Box : 118117 Dubai
Telephone: (971 4) 397 4001
Fax :
(971 4) 397 1127
ACTIVITIES
The Company is involved
in the following activities :
Importers and distributors
of steel pipe coating.
Imports from Asian and
European countries.
FACILITIES
The Company has the
following facilities :
Office premises located
at the heading address.
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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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)