MIRA INFORM REPORT

Report Date :

10.12.2012

IDENTIFICATION DETAILS

Name :	VAZIRI TRADING COMPANY
Registered Office :	Shahidan Ashraf Blvd. Arg Complex, No.7 , 8915838869 Yazd
Country :	Iran
Date of Incorporation :	16.08.2006
Reg. No.:	1562
Legal Form :	Limited Liability Company
Line of Business :	Supplier, importer and exporter of agricultural products & building materials.
No. of Employees :	6

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Iran	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Iran - ECONOMIC OVERVIEW

Iran's economy is marked by statist policies and an inefficient state sector, which create major distortions throughout the system, and reliance on oil, which provides the majority of government revenues. Price controls, subsidies, and other rigidities weigh down the economy, undermining the potential for private-sector-led growth. Private sector activity is typically limited to small-scale workshops, farming, and services. Significant informal market activity flourishes and corruption is widespread. Tehran since the early 1990s has recognized the need to reduce these inefficiencies, and in December 2010 the legislature passed President Mahmud AHMADI-NEJAD's Targeted Subsidies Law (TSL) to reduce state subsidies on food and energy. This was the most extensive economic reform since the government implemented gasoline rationing in 2007. Over a five-year period the bill will phase out subsidies that previously cost Tehran $60-$100 billion annually and mostly benefited Iran's upper and middle classes. Cash payouts of $45 per person to more than 90% of Iranian households mitigated initial widespread resistance to the TSL program, though popular acceptance remains vulnerable to rising inflation. A rise in world oil prices in 2011 increased Iran's oil export revenue by roughly $28 billion over 2010, easing some of the financial impact of international sanctions. However, expansionary fiscal and monetary policies, government mismanagement, the sanctions, and a depreciating currency are fueling inflation, and GDP growth remains stagnant. Iran also continues to suffer from double-digit unemployment and underemployment. Underemployment among Iran''s educated youth has convinced many to seek jobs overseas, resulting in a significant "brain drain.

Source : CIA

Company Details

Company Name: VAZIRI TRADING COMPANY

Address: Shahidan Ashraf Blvd. Arg Complex, No.7

8915838869 Yazd, Iran

Tel: +98 351 8266129

Fax: + 98 351 8260372

Website: -

E-mail: vaziri.ebrahim@gmail.com

Registration & Legal Details

Current Legal Form: Limited Liability Company

Registration Address: Shahidan Ashraf Blvd. Arg Complex, No.7

8915838869 Yazd, Iran

Registration Number: 1562

Established Date: 16/08/2006

Registration Date: 16/08/2006

Registration Town: Yazd

Capital

Nominal Capital: 1,000,000 Iranian Rials

Shareholders

Shareholder Names	Share%
Vaziri family	100%

Principals

Name: Mr. Mohamad Ebrahim Vaziri

Position within the company: Managing Director

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: English, Persian

Name: Mr. Fereydoun Hasanzadeh

Position within the company: Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Persian

Name: Mr. Hasan Pourali

Position within the company: Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Persian

Activations

Supplier, importer and exporter of agricultural products & building materials.

Operations

Company Employs: 6

Sales: %100 Nationality

Sales to: General Public, Companies Group

Sales Term: Cash, Bank Transfer

Vehicles: 3

HQ Premises

Operates Form: Owned: Office, Factory

Location: Business Area, Main Road

Bankers

Melli Bank

Saderat Bank

Financial

The subject declined it.

Solicitor: Mr. Ahmad Ebadi

Auditor: Mr. Esmail Hamedani

Imports

Imports From: Far East

Importing Terms: Bank Transfer

Import % and type of product: 100% Finished Goods

Export

It doesn’t export.

Related Companies

It doesn’t have any related companies.

Payment

Subject's payments reported to be: NO COMPLAINT

Interview & Reporter Comments

Reporter Comment Date: 07/12/2012

Name/Title: Mr. Hasan Pourali - Manager

Subject refused to cooperate with us.

Note: the company is not known on Iran market.

Conclusions

Local Reputation:

The company being investigated is considered by local reporters to be a High

Trade Risk and to be secured.

Owner/Shareholders Comments:

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

Age of Business: Old family business

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.20
UK Pound	1	Rs.86.99
Euro	1	Rs.70.22

INFORMATION DETAILS

Report Prepared by :

SDA

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%)

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