MIRA INFORM REPORT

 

 

Report Date :

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

TURKMENCHEMISTRY

 

 

Registered Office :

92, Esgerler St 744012 Ashgabat 

 

 

Country :

Turkmenistan

 

 

Date of Incorporation :

28.06.1957

 

 

Com. Reg. No.:

2217

 

 

Legal Form :

State Owned Concern

 

 

Line of Business :

Development of new technological processes, development of design of water, chemistry projects.

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Iran

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company Details

 

Company Name:           TURKMENCHEMISTRY

 

Trading Name:               Institute of Chemistry          

 

Address                         92, Esgerler St

                                       744012 Ashgabat 

                                       Turkmenistan

                                      

Telephone:                    +993 12 432055

 

                              

Fax:                                +993 12 435934

 

Website:                          -

 

E-mail:                            chem@online.tm

 

                            

Registration & Legal Details

 

Current Legal Form:      State Owned Concern

 

Registration Address:    92, Esgerler St

                                        744012 Ashgabat 

                                        Turkmenistan

                                                

Registration Number:     2217

 

Established Date:            28/06/1957

 

Registration Date:           28/06/1957

 

Company was originally started on 1957

 

 

Capital

 

Nominal capital:   17,100,000.00 TMM

 

 

Shareholders

 

Parent Company:

State of Turkmenistan

% Share held: 100%

 

Principals

       

Name:                                               Mr.  Gurbanguly Berdimuhamedov

Position within the company:        President

Country of Birth:                             Turkmenistan                                                                                 

Nationality:                                      Turkmenistan

Can fluently speak:                         Farsi, English

 

Name:                                              Mr. Otabek Usmanov

Position within the company:       Director

Country of Birth:                            Turkmenistan                                                                              

Nationality:                                     Turkmenistan

Can fluently speak:                        Farsi

 

Name:                                              Mrs. Umida Gulyamova

Position within the company:       Office Manager

Country of Birth:                            Turkmenistan                                                                               

Nationality:                                     Turkmenistan

Can fluently speak:                        Farsi

 

 

Company Activities

 

The subject is involved in development of new technological processes, development of design of water, chemistry projects.

 

 

Branches:

 

11, Hero of Turkmenistan A. Niyazow Avenue

744000, Ashgabat, Turkmenistan

 

 

Operations

 

Company Employs:                 35

 

Sales:                                           %100 Nationality

Sales to:                                      Group Companies

 

Sales Term:                                 Cash

 

 

Vehicles:                                     8

 

 

HQ Premises

 

Operates Form:                        Owned: Offices, Warehouse

Location:                                 Central Business Area, Main road

 

 

Financial 

 

The subject declined all financial data.

 

Bankers

 

Bank Name:                            National bank of Turkmenistan 

City:                                        Ashgabat 

 

 

Imports

                                                 

Imports From:                                  Far East  

Importing Terms:                             Letters of credit

Import % and type of product:       10% Finished Goods

Additional Information:                   Balance of %90 purchased via local market.

 

 

Export 

 

It doesn’t export.

 

 

Related Companies

             

Affiliates:

 

Academy of Science of Turkmenistan

Turkmenistan

 

Payment 

 

Subject's payments reported to be:  NO COMPLAINTS 

 

 

Interview & Reporter Comments

 

In the interview conducted with Mrs. Umida Gulyamova ( Office Manager), she refused to cooperate with us.

 

Note: the address which you provided is the branch address of company.

 

 

Conclusions

 

Local Reputation:

The company being investigated is believed by local reporters to be a Medium

Trade  Risk and to be fair.

 

 

Owner/Shareholders Comments:

Some  of the owners / shareholders have an active participation in the running of  the business.

 

Age of Business:  Old Business

 

.

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.24

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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

Capability to overcome financial difficulties seems comparatively below average.

 

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

--

NB

                                       New Business

 

--

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.