MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
Esfahan Petrochemical Company |
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Registered Office : |
No. 28, Nezami
Ganjavi Sq, Tavanir St, Vali-e-Asr Ave, Tehran, P O Box 81395-313 |
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Country : |
Iran |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
6882 |
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Legal Form : |
Public Joint Stock Company |
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Line of Business : |
Manufacture of
Aromatics such as Benzene, Toluene Paraxylene & Orthoxylene. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
company details
Company Name: Esfahan
Petrochemical Company
Address: No.28, Nezami Ganjavi Sq, Tavanir St
Vali-e-Asr Ave
Tehran
Iran
P O Box: 81395-313
Telephone: +98 21 88775144
+98 21 88799569
+98 311 3804250
Fax: +98 21 88882039
+98 21 8009628
Website: www.epciran.com
E-mail : inquiry@epciran.com
registration
& legal details
Current Legal Form: Public JOINT STOCK CO
Registration Address: Petrochemical Blvd, 5KM Azadegan Highway
Esfahan
Iran
Registration Number: 6882
Established Date: 1989
Registration Date: 1989
Company was originally started as a PRIVATE JOINT STOCK CO on 1989
capital
Nominal capital: 300,000,000,000 Iranian Rial
Issued capital: 300,000,000,000 Iranian Rial
Paid up capital: All
Number of Shares: 300,000,000.00 Type of Shares: None Selected
Issued Shares: Value per share: IRI 1,000.00
shareholders
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Shareholder Names |
% of Voting/Non-Voting Capital |
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Tamin Chemical & Petrochemical Investment Co
Tehran Iran |
%25 |
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Civil Servants Pension Fund Tehran Iran |
%23 |
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Civil Servants Fund Investment Co Tehran Iran |
%30 |
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Others Tehran Iran |
%22 |
principals
Name: Mr. Anooshirvan Bojnoord
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Education: Graduate Degree in B.S Technical University
Name: Mr. Ali Mostajeran
Position within the company: Managing director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Education: Graduate Degree in PHD Technical University
Name: Mr. Mohamad Sadegh Moghadam
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Education:
Graduate Degree in B.S Technical University
Name: Mr. Mohamad Hossien Peyvandi
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Education: Graduate Degree in M.A University
Name: Mr. Mohsen Ahmadian
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Name: Ms Zahra Bayat
Position within the company: Secretary
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
company
activities
Manufacture of
Aromatics such as Benzene, Toluene Paraxylene & Orthoxylene.
Company Employs
800
Sales
%70 Nationality %30 International
Sales to
Local Authorities, Group Companies,
Sales Term
Letters of Credit, Cash, Check
Vehicles
135
hq premises
Operates Form: Owned: Offices, Warehouses, Workshops and Complex
Location: Central Business Area, Main Road
bankers
Bank Melli
Esfahan
Iran
Bank Sanat & Madan
Esfahan
Iran
Bank Tejarat
Tehran
Iran
financial information
Source: Ms. Zahra Bayat Secretary
Currency: Iranian Rails
Note:
Figures in 000,000's
Months
Sales Figures Sales Gross Profit/Loss Net Profit/Loss
12 29/03/2006
1190000 376200 335400
12 29/03/2005 1086000 328900 316900
12 29/03/2004 618000 91310 85700
imports
Imports From: South
Korea, Germany, Italy
Importing Terms: Letters
of credit
Import % and type of product: 20% Finished Goods
Additional Information: Balance of %80 purchased via local market.
export
Export % and type of product: 30% Raw Material
Exports To: United Kingdom, Switzerland,
Japan
Exporting Terms: letters of credit Additional Information: cash
related
companies
Information on Related Companies is not available/applicable
payment
Subject's payments reported to be: NO COMPLAINTS
interview
& reporter comments
In the interview conducted with
Ms.Zahra Bayat (Secretary) she declined bank account
number citing the grounds of company confidentiality.
The subject is a well-known and well-established business
that enjoy extensive credit facilities and a good reputation
within the local and international market.
Name/Title:
Ms.Zahra Bayat (Secretary)
Subject has confirmed the general details provided in the report.
conclusions
Accounts Comments: Only Brief Financial data has been obtained by the subject, our assessment and
ratings are therefore based on the reliability of the data obtained.
Our assessment and ratings are therefore based on non-financial data.
Local Reputation:
The company being investigated is believed by local reporters to be a Medium Trade
Risk.
Local informants consider granting of credit to be a fair trade risk
Owner/Shareholders Comments: All or most of the owners / shareholders have an active participation in the running of
the business.
Age of Business: Old Business
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. |
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%)