MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHERKAT SAHAMI AAM TRACTOR SAZI IRAN |
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Registered Office : |
Iran Tractor Mfg.Complex, Sardrood Road 10 km, P. O. Box 687, 51845-337, Tabriz 51978 |
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Country : |
Iran |
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Date of Incorporation : |
21 March, 1968 |
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Com. Reg. No.: |
540/324 Tabriz |
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Legal Form : |
Public Joint Stock Company |
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Line of Business : |
Manufacturers and distributors of tractors and spare parts |
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 7,000,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
SHERKAT SAHAMI AAM
TRACTOR SAZI IRAN (Correct)
IRAN TRACTOR MFG CO
(Requested)
ADDRESS
Building :
Iran Tractor Mfg.Complex
Area : Sardrood Road 10 km
P.O. Box :
687, 51845-337
Town : Tabriz 51978
Country : Iran
Telephone :
(98 411) 424 5800 / 424 5819 / 424 5850 / 424 5891 /424 5895
Fax : (98 411) 424 5857-8
Shortform Name
ITMCO
Trading Styles
Iran Tractor Machine
Design and Manufactring Center
Also Known As
Iran Tractor Mfg Co
SENIOR COMPANY
PERSONNEL
Name Position
Mohsen Khadem Arab
Baghi Managing
Director
Ayoub Moshtaghi Production
Director
Jaberi Allah Vardi Deputy
Production Director
Safar Nejad Financial Manager
Houshang Samberani Technical
Manager
Akbar Mirza Hosseini Light
Truck Production Manager
Total Employees
2,352
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a subsidiary
of the state owned IDRO.
We consider it is
acceptable to deal with subject for LARGE amounts, although it is normal
accepted practice for international suppliers to deal on fully secured terms
with Iranian importers.
Opinion on maximum credit
: RIAL 7,000,000,000 (association inspire confidence for higher amounts if
required)
Trade risk assessment :
Normal
Opinion on the credit
figure of US DLRS 1,500,000
The above figure is
higher than normally seen in one amount, however could prove admissible in a
short series of transactions provided the total indebtedness is strictly
monitored.
PRINCIPAL BANKERS
NAME : BANK MELLI IRAN
Branch : Main Branch
Town :
Tabriz
Tel :
(411) 222 5327
Fax :
(411) 222 8533
The company also has an
account with other bank.
Bank Tejarat Iran
184 Taleghani Avenue
PO Box : 11365/1917
Town : Tehran
Telephone : (98 21) 8889
0131
Fax : (98 21) 8882 8215
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
680,000,000,000 - 2003 - exact
: RIALS 1,500,000,000,000 - 2004 - exact
: RIALS 2,200,000,000,000 - 2005 - approx
: RIALS 2,800,000,000,000 - 2006 - approx
Net Profit :
not given
Highlights from IDRO
CORPORATION BALANCE SHEET
As at 20 March
Total current :
RIALS 2,658,858,000,000 - 2002 -
exact
assets :
RIALS 4,494,876,000,000 - 2003 -
exact
Total assets :
RIALS 7,503,678,000,000 - 2002 -
exact
: RIALS
8,556,403,000,000 - 2003 – exact
LIABILITIES
Long term loans : RIALS 301,852,000,000 - 2002 - exact
: RIALS 339,330,000,000 - 2003 - exact
PROFIT AND LOSS ACCOUNT
Revenues :
RIALS 959,739,000,000 - 2002 -
exact
: RIALS
1,371,265,000,000 - 2003 - exact
Net income :
RIALS 669,537,000,000 - 2002 -
exact
: RIALS
1,117,353,000,000 - 2003 - exact
LEGAL STATUS AND
HISTORY
Date Started : 21 March, 1968
History : Registered with the Tabriz
Companies Registry on 21 March 1968 with an initial capital of
RIALS
100,000,000. In 1998 the subject changed its legal status to a public joint
stock company.
C.R. No. : 540/324 Tabriz
Authorised Capital :
250,000,000
Paid up Capital : RIALS 131,000,000,000
Sharkat Sahami Aam
(Public Joint Stock Company) with the following shareholders :
1. Iranian Development
and Renovation Organization (IDRO)
29 Sepahbod Gharani Street
POBox : 15815 1976
Tehran
Telephone : (98 21) 882 9181
Fax
: (98 21) 882 9458
Owned
by the State. IDRO has 120 affiliated companies, which comprise 60 percent of
heavy industrial plants nationally, and are organized in six divisions. It also
has service companies and exerts authority over all the private heavy
industrial plants as far as policy- making, foreign exchange appropriation and
permits are concerned. IDRO's managing director is a deputy industry minister.
2. Organization for
Privatization
3. Unnamed shareholders
The subject is
responsible to the Ministry of Heavy Industry.
Affiliated companies of
Sherkat Sahami Aam Tractor Sazi Iran :
Associates
1. Iran Tractor Forging
Company
P.O. Box 51745-158
Tabriz
Tel : 425977-85
2. Sherkate Rihtegari
Tractor
(Tractor Foundry Co)
3. Motor Sazan Co
4. Machinalat Co
5. Hadamate Sanati
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers and
distributors of tractors and spare parts under license of Massey Ferguson
specializing in 650 and 651, with power steering mechanism, adjustable front
and rear axles, with two speed transmissions and disk type breaks.
Manufactures of
agricultural machines and relative spare parts.
Annual Production
Capacity : 20,000 tractors
It produced 8269 tractor
and 191 light trucks in 2000/2001
It is holder of ISO 9002 certificate.
Imports from UK, Sweden,
Turkey and Germany.
Principal supplier :
Agco.
Exports to African and
Asian countries.
FACILITIES
The Company has the
following facilities :
Several large owned
offices, factory and storage facilities situated at the heading address as well
as a branch office in Tehran (see 'Branch Offices' below).
The company had formerly
an office at:
Mirzoye Shirazi Street
17th Alley no 14
Tehran
Tel : (21) 8884 1358-9
Fax : (21) 8884 4567
BRANCH OFFICES
1. Vali Asr Ave, Opp Jame
E Jam
Tehran
Telephone :
021 2204 5195
Fax
: 021 2205 0115
2. Tabriz
Telephone :
0411 424 5895
Fax
: 0411 4245805
P.O.Box
: 51335-4687
3. Sales Dep:
Tabriz
Telephone :
0411 425 2652
Fax
: 0411 425 2652
P.O.Box
: 51335-4687
4. Export Dep:
Tabriz
Telephone :
0411 424 5895
Fax
: 0411 424 5805
P.O.Box :
51335-4687
5. Design Dep:
Tabriz
Telephone :
0411 424 5895
Fax
: 0411 424 5805
P.O.Box :
51335-4687
6. Garanty Dep:
Tabriz
Telephone :
0411 424 5895
Fax
: 0411 424 5805
P.O.Box :
51335-4687
7. Tabriz
Telephone :
0411 424 5925
Fax
: 0411 424 5843
SPECIAL NOTE
1. You enquired on : Iran
Tractor Mfg Co. Please note the correct name is as per heading.
2. You provided RAK Ras
Al Khaiymah Bank. The official stated that the company occasionally open its Letter of Credit through the following bank.
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%)