MIRA INFORM REPORT
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Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
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Name : |
EUROTERM CJSC
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Registered Office : |
15/2
Amirian Street, Kentron, Yerevan 0002 |
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Country : |
Armenia |
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Date of Incorporation : |
25.06.1998 |
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Com. Reg. No.: |
286.110.03236 |
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Legal Form : |
Closed Joint Stock Company |
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Line of Business : |
Subject is engaged in Production division and Trading division |
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No. of Employees
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300 |
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 : |
DRAM 10,000,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Armenia |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COmpany NAME
Euroterm CJSC
company ADDRESS
Street :
15/2 Amirian Street
Area :
Kentron
P.O.Box No. :
Town :
Yerevan 0002
Country :
Armenia
Telephone :
(374 10) 518 555 / 537 232 / 538 445 / 537 571 / 537 232
Fax (374 10) 537 571 / 644220
E-Mail :
mary.ghazaryan@euroterm.am
Website :
www.euroterm.am / www.noyan.am
Trading
Style : Noyan
SENIOR COMPANY PERSONNEL
Name Position
1. Edward
S. Ghazaryan President
2. Mary E.
Ghazaryan Executive Director
(daughter of the above)
3. Vahe E.
Ghazaryan General Manager
(brother of the above)
Total
Employees : 200-300 (number fluctuates according to season)
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for SMALL
amounts, although it is normal accepted practice for international suppliers to
deal on secured terms with Armenian importers.
Opinion on maximum
credit : DRAM 10,000,000
Trade risk
assessment: Normal
PRINCIPAL BANKERS
NAME : HSBC ARMENIA BANK
Branch : Komitasi Ave 3
Town : Yerevan
Telephone:
(374 10) 222 596 / 228 757
The company
also has an account with :
1. VTB
Armenia CJSC
Nalbandyan str. 46
Yerevan
Telephone: (374 10) 565 860
Fax
: (374 10) 565 578
2.
Procredit Bank
154 D. Agmashenebeli Avenue
Tbilisi 0112
Tel: (995 32) 202 222
Fax: (995 32) 250 580
FINANCIAL INFORMATION
Private companies
in Armenia are not required to publish or disclose balance sheets. However, the
subject interviewed offered the following information :
Sales
Turnover : US DLRS 1,500,000 - 2011 -
exact
Net
Profit : not given but
stated to be profitable
Financial
year ends 31 December.
LEGAL STATUS AND HISTORY
Date
Started : 25 June 1998
History :
The subject company was established in Armenia on 25 June 1998.
C.R. No. :
286.110.03236
Tax No.:
02541434
Capital :
US DLRS 1,000,000
Zakrytoye
Aktsyonernoye Obshchestvo (closed joint stock company) with the following
shareholders :
1. Edward
S. Ghazaryan
(Armenian & Russian nationality holder)
2. Ripsime
Kahkchyan
(wife of the above)
ACTIVITIES
The Company
is involved in the following activities :
Subject
operates through the following divisions :
-
Production division : Producers of juices, nectars, soft drinks, jams, juice
concentrates and canned fruits and vegetables. Brand name: Noyan.
- Trading
division : Trading in heating equipment such as boilers and radiators.
Imports
mainly from Austria, Italy, Sweden, India and South Korea.
Exports to
Russia, Europe and USA.
FACILITIES
The Company
has the following facilities :
Premises
comprising administrative offices and storage facilities located at the heading
address as well as a production facilities located elsewhere in Yerevan (see
"Branch Offices" section below).
REGISTERED OFFICE
15/2
Amirian Street
Kentron
Yerevan
0002
BRANCH OFFICES
5 Kochinyan
Street
Yerevan
0089
Tel: (374
10) 634 101 / 647 587 / 647 657
SPECIAL NOTE
Interviewed:
Mary E. Ghazaryan (Executive Director)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.78 |
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UK Pound |
1 |
Rs.81.79 |
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Euro |
1 |
Rs.67.46 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.