MIRA
INFORM REPORT
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Report Date : |
17.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEPAHAN OIL COMPANY |
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Registered Office : |
No.34, Rostami Alley, Ghale Morghi St, Qazvin Ave Tehran |
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Country : |
Iran |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
155078 |
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Legal Form : |
Joint Stock
Company |
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Line of Business : |
Produces and Exports Base Oils in Iran, and also Manufactures the Sepahan Brand of
Automobile and Industrial Lubricants. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Details
Company Name: Sepahan Oil Company
Also Known as:
SOC
Branch Address: No. 94 Khaled Slamboli Sttehran
Headquarter address: No.1, Nader Blind, Ahoura Mazda
St, 37th St
Alvand
St, Arjantine Sq
Tehran,
Iran
Factory Address: Isfahan, 5th
Km of Tehran Road
Isfahan, Iran
P O BOX: 81465-471
Tel: +98 2188884889
+98
311 3800501
+98
311 3800502
+98
311 3800503
+98
311 3800504
Fax: +98 2188774924
+
98 218877878
+98
311 3800515
Website: www.sepahanoil.com
E-mail: commercial@sepahanoil.com
Company was originally started on 2002
Registration
& Legal Details
Current Legal Form: Joint Stock
Company
Registration Address: No.34, Rostami
Alley, Ghale Morghi St, Qazvin Ave
Tehran
Iran
Registration Number: 155078
Registration Date: 2002
Year Established: 2002
Registration Town: Tehran
Capital
Currency: Iranian Rials
Nominal capital: 600,000,000,000
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Number of Shares: 600,000,000 |
Type of Shares: None Selected |
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Issued Shares: - |
Value per share: IRI 1,000.00 |
Shareholders
The company declined all shareholder data.
Principals
Name:
Mr. Behrouz Kareh
Band Boushehri
Position within the
company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi
Name: Mr. Ayatollah Joshan
Position within the
company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi
Name: Mr. Alireza Sarabi
Position within the
company: Managing Director, Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi
Name: Mr.
Hamidreza Fatahi Kasili
Position within the
company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi
Name: Mr.
Alireza Masoudi
Position within the
company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi
Company
Activities
The subject produces and
exports base oils in Iran, and also manufactures the Sepahan brand of
automobile and industrial lubricants. It operates a 7,100-barrels-per-day Group
I base oil plant in Esfahan. The facility is the largest of four base oil plants in Iran.
It was selected as the exporter of the year in 2004
with an exports volume of $87.349 million.
Certificates: ISO 9001- ISO 14001 and OHSAS 18001
Local Reporters consider the investigated company to be
Large their field
of concern.
Operations
Employees
Company Employs: 850
HQ Premises
Operates from: Owned: Office, Warehouse,
Factory
Location: Central Business Area, Main Road
Imports
Imports: Finished Goods
Import%: 10%
Import from:
China, UAE
Import terms: letters of credit
Additional:
balance of 70% purchased via
local market
Export
Exports: Finished
Goods
Export%: 30%
Export from:
Latin America, Europe, Far East
Export terms: letters of credit
Trading
& Selling
Territory: 70% National, 30% International
Type of Customer: General Public, Local Authorities
Terms of sales: Cash, letters of credit
Vehicles: Total number of vehicles: 35
Related
Companies
Subject dose not have any related company.
Banks
Bank Melli Iran
Tehran,
Iran
Financial
Information
Information on financial is not available.
Payments
Subject's payments reported to be: NO COMPLAINTS
Representation
Solicitor: Hoshyar Bahmand Foundation
Auditor: Abbas Hashi
interview
& reporter comments
Name/Title: Ms. Maryam Jahan (Secretary)
In the interview conducted with Ms. Maryam Jahan (Secretary), she declined bank account numbers citing the grounds of Company
confidentiality.
Conclusion
Local Reputation: The company being investigated is considered by local reporters to be a
Medium Trade Risk and Fair. The subject is known on Iran market.
General Conclusion:
Local informants consider granting of credit to be a Fair.
Owner/Shareholders Comments:
Some of owners involved in the running of
the business
Age of Business: Old Business
Clipping
Date: 23 May, 2007
Source: Lube Report
UAE's Universal, Iran's Sepahan Join Forces
Universal Lubricants LLC of UAE and Sepahan Oil Co. of Iran have formed a joint venture to distribute and market base oils, lubricants and other products under the name Unisep Oil LLC, UAE.
Excel Corp. in Mumbai, India will handle marketing of Unisep products in
India. Excel owner Atul Satsangi told Lube Report that Sepahan Oil
benefits from the partnership with Universal by obtaining access to large
storage facilities as well as blending capacity owned by Universal Lubricants
in the Hamriya Free Zone in Sharjah, United Arab Emirates. Easier shipping was
another appealing aspect of the partnership, he said.
According to Satsangi, operating from the free zone will enable Sepahan
to ship more efficiently with fewer delays. “There are vessel and flag
restrictions there which are nonexistent in the UAE,” he said of ports in Iran.
“The procedures are very customer friendly in UAE Free Zones.”
The efficient shipping will aid the partnership in its efforts to reach a
variety of markets. “The primary focus will be the areas of the Indian sub
continent and Africa, where they enjoy a logistics advantage,” he said. “The
next target area is China and southeast Asia, and dedicated transport options
are being finalized to match the competition.”
Hamriya Free Zone was established in November 1995. The free zone provides
incentives and opportunities to establish a business in a tax free environment
with full company ownership, exemptions from commercial levies, and
repatriation of capital and profits. Sharjah has ports on the Persian Gulf’s
west coast and east coast with direct access to the Indian Ocean, and an
international airport.
Universal Lubricants, based in Sharjah, manufactures and supplies a wide
range of lubricants, with product lines that include engine oil, industrial and
marine lubricants, and other specialized oils.
Universal blends automotive, industrial and marine lubricants at its
blending plant in Sharjah. The plant has an annual capacity of 15,000 metric
tons. According to Universal’s Web site, the company has a storage facility
with about 100,000 cubic meters (about 26 million gallons or 619,000 barrels)
capacity for petroleum products at the free zone.
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%)