MIRA INFORM REPORT

 

 

Report Date :

22.03.2007

 

IDENTIFICATION DETAILS

 

Name :

SUPPLIER AUTOMOTIVE PARTS CO SSK

 

 

Registered Office :

12 km of Jadeh Makhsoos (Special) Karadj, P.O. Box 13185-743, Tehran

 

 

Country :

Iran

 

 

Date of Incorporation :

1994

 

 

Com. Reg. No.:

36676

 

 

Legal Form :

Private joint stock company

 

 

Line of Business :

Trading as importers, exporters and distributors of automotive spare parts, mostly manufactured by its share holding company Iran Khodro Co.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US DLRS 15,000,000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

COmpany NAME

 

SUPPLIER AUTOMOTIVE PARTS CO SSK (Correct)

SUPPLING AUTOMOTIVE PARIS CO (SAPCO) (Requested)

 

 

ADDRESS

 

Street                           :  12 km of Jadeh Makhsoos (Special) Karadj

P.O. Box           :  13185-743

Town                 :  Tehran

Country             :  Iran

Telephone         :  (98 21) 4490 3755-6

Fax                   :  (98 21) 4490 3757

 

 

Short form Name

 

SAPCO

 

 

Trading Styles

 

Sherkate Sahami Khass Tarrahi Mohandessi

va Taamin qataate Dakheli Khodro Iran

 

Also Known As

 

Sapco Supplyning Of Automative Parts

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                          Position

 

1. Mojtaba Shira Poor                                         Managing Director

 

2. A Qasemi                                                      Deputy Managing Director

 

3. Mohammed Mohammed Zadeh Moghadam     Financial Director

 

 

Total Employees

 

1,400 (subject)

30,000 (group)

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

Subject is a subsidiary of Iran Khodro.

 

We consider it is acceptable to deal with subject for LARGE amounts although it is normal accepted practice for international suppliers to deal on secured terms with Iranian importers.

 

Opinion on maximum credit: RIALS 4,500,000,000 (higher amounts may be considered with assuraces from the parent company).

 

Trade risk assessment: Fairly low

 

Opinion on the credit figure of US DLRS 15,000,000:

 

The above figure is much higher than normally seen in one amount, however could prove admissible in a series of transactions provided the total indebtedness is strictly monitored.

 

 

PRINCIPAL BANKERS

 

NAME                : BANK TEJARAT

 Branch             : Taleghani Ave

P.O. Box           : 11365-5416

Town                 : Tehran 15994

Telephone         : (21) 892071-9

Fax                   : (21) 890130-9

 

The company also has an account with :

 

1. Bank Melli

   Ferdowsi Ave

   P.O. Box : 11365-171

   Tehran 11354

   Telephone: (21) 3231

   Fax           : (21) 302813

 

2. Bank Mellat

   Shahid Fayazbakhsh Ave, Keshavarzi St

   P.O. Box   : 11365-5964

   Tehran

   Telephone: (21) 32491 / 890677 / 891021

   Fax           : (21) 892868

 

 

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        : RIAL 850,000,000,000 - 2005 - exact

 

Net Profit                 : not given

 

 

The following information applies to the parent company:

 

Sales Turnover               : RIALS    4,500,000,000,000 - 2004 - approx

                                    : RIALS    9,000,000,000,000 - 2005 - approx 

                                    : RIALS   10,050,000,000,000 - 2006 - approx

 

Net profit (loss)              : RIALS      200,000,000,000 - 2004 - approx

before tax                      : RIALS      740,000,000,000 - 2005 - approx

                                    : RIALS    2,000,000,000,000 - 2006 - approx

 

 

LEGAL STATUS AND HISTORY

 

Date Started      : 1994

 

History              : Ramazan Ali Pourmojib and Ali Akbar Taheri you provided, are subjects's former Directors.

 

C.R. No.            : 36676

 

Chamber of Commerce Membership No: 372072

 

Authorised & Paid up Capital: RIAL 404,000,000,000

 

Sherkat Sahami Khass (private joint stock company) with the following sole shareholder :

 

Iran Khodro Co                                                   100 %

Special Makhsous Karaj Km 14

P.O. Box :  11365-7313

Tehran 14584

Telephone         :  (98 21) 489 05708 / 489 05710

Fax                   :  (98 21) 490 7202 / 490 7502

E-Mail               :  naghipoor@ico.com

 

Registered Capital : RIALS 855,000,000,000 Shareholding structure of Iran Khodro :

 

1. IDRO (a state holding company for nationalized industries, with the managing director appointed by

    Government)

2. National Iranian Investment Company           

3. Company employees and other investors          

4. ISA CO

5. Tam Co

 

 

 

Affiliated companies of Supplier Automotive Parts Co SSK :

 

Associates

 

Other members of the Group :

 

1. Sherkat Sahami Khass Tahiyeh Va Lavazem Yadaki Iran Khodro

   (Iran Khodro Spare Parts Co)

   11th Km. Of Karaj Special Road

   P.O. Box 13445-1339

   Tehran 13145

   Tel     : (98 21) 489 02424-5

   Fax    : (98 21) 977346

 

2. Sabco  

   Tehran

 

3. Mehrcon Pars Co.

   Tehran

 

4. Shoudou Nashcan Co.

   Tehran

 

5. Bulburing Lonore Co.

   Tehran

 

6. Iran khodro Industries Development Co

   Tehran

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers, exporters and distributors of automotive spare parts, mostly manufactured by its share holding company Iran Khodro Co.

 

Imports from France.

 

Exports to CIS states, France and UAE.

 

Principal supplier : Peugeot.

 

 

FACILITIES

 

The Company has the following facilities :

 

Owned offices premises and a storage facilities and a factory located at the heading address as well as a branch office in Mashed.

 

 

SPECIAL NOTE

 

You enquired on : SUPPLING AUTOMOTIVE PARIS CO (SAPCO).

 

Please note the correct name is as per heading.

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions