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Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
URGANCH YOG II OAO [JSC] |
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Formerly Known As : |
Urgench Yogmay
Kombinat |
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Registered Office : |
Dosova Street 2, Urgench 220100, Khorezmskaya Oblast |
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Country : |
Uzbekistan |
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Date of Incorporation : |
18.08.1994 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Open Joint Stock Company |
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Line of Business : |
Producers of edible oil such as cottonseed oil, sunflower oil and soybean oil as well as laundry soap. |
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No. of Employees : |
1,026 |
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 : |
Good |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Uzbekistan |
B2 |
B2 |
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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 |
Urganch Yog II OAO (Correct)
JSC URGANCH YOG (Requested)
Street : Dosova Street 2
Town : Urgench 220100
Province : Khorezmskaya Oblast
Country : Uzbekistan
Telephone : (998 62) 227 1302 / 529 9560 (Turaboy Atamuratovich Turaev) / 227 2287 (Kurbanbay Sabirov)
/ 227 1132 (Atazhon Sharipov) / 227 1004 (Makhmud Bakhodyrovich Ibragimov)
Fax : (998 62) 227 2287
E-Mail : urgenchoil@rambler.ru
Extended Name : Urganch Yog Otkrytoye Aktsyonernoye Obshchestvo s Uchastiem Innostrannoy Investitsii
English Translation : Urganch Yog OJSC
Formerly Known As : Urgench Yogmay Kombinat
Name Position
SUPERVISORY BOARD
1. Tursun Ergashevich Yarkulov Member of the Board
2. Ravshan Usmanovich Ismailov Member of the Board
3. Bekmurot Ruzmetovich Matyakubov Member of the Board
4. Sanobar Masharipovna Yusupova Member of the Board
BOARD OF DIRECTORS
& MANAGEMENT
1. Allabergen Egamovich Khudayberganov Member of the Board
2. Kushnazar Sadullaev Member of the Board
3. Zaripboy Ruzmatov Member of the Board
4. Azat Shermetov Member of the Board
5. Masharip Sotimovich Khudayberganov Member of the Board
6. Khurmat Azatovich Ataev Managing Director
7. Kurbanbay Sabirov Deputy Managing Director
8. Turaboy Atamuratovich Turaev Chief Accountant
9. Makhmud Bakhodyrovich Ibragimov Corporate Adviser
10.Atazhon Sharipov Assistant to Managing
Director
Total Employees : 1,026
No complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for LARGE amounts,
although it is normal accepted practice for international suppliers to deal on secured terms with Uzbekistani importers.
Trade risk assessment: Normal
PLANNED CHANGE IN NAME AND SHAREHOLDING STRUCTURE
3 July 2012 : According to subject’s Corporate Adviser - Mr
Makhmud Bakhodyrovich Ibragimov when interviewed, he advised that currently
subject is under the process of changing its shareholding structure to the following : State
Property Committee of Republic of Uzbekistan (59.85%), Floil Holding Ltd
(29.9%) and other minority shareholders
(13.25%) and he also stated that subject’s name will be changed to
"Urganch Yog’-Moy OAO". The process is scheduled to be completed by
the end of July 2012.
NAME : NATIONAL BANK FOR FOREIGN ECONOMIC ACTIVITY OF UZBEKISTAN
Branch : Pakhlavan Makhmud Street 150
Town : Urgench 7400000
Telephone : (998 62) 226 2644
Fax : (998 62) 226 2644
Acc. No. : 20208840400403368003 (USD)
Private companies in Uzbekistan are not required to publish or disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover : SUM 27,254,969,000 - 2009 - exact
: SUM 26,000,000,000 - 2010 - exact
: SUM 50,390,000,000 - 2011 - exact
Net Profit : SUM 1,428,236,000 - 2011 - exact
Financial year ends 31 December.
Date Started : 18 August 1994
History : The subject company was established in Uzbekistan on 18 August 1994 as a state owned company. On 30 December 2003 subject was privatized and subject’s shareholding structure changed to the present.
Tax No.: INN 201004408
Authorised Capital : SUM 3,025,800,000 (increased from SUM 1,620,000,000 on 4 May 2012)
Paid-Up Capital : SUM 3,025,800,000 (increased from SUM 1,620,000,000 on 4 May 2012)
Otkrytoye Aktsyonernoye Obshchestvo (open joint stock company) with the following shareholders :
Percentage
1. Floil Holding Ltd 50.2%
Switzerland
2. State Property
Committee of Republic of Uzbekistan
25.0%
Uzbekistanskiy Avenue 55
Tashkent
100003
Telephone: (998 71) 239 4446
Fax
: (998 71) 239 1484
3. Other minority shareholders 24.8%
The Company is involved in the following activities :
Producers of edible oil such as cottonseed oil, sunflower oil and soybean oil as well as laundry soap.
Production capacity : 800 tonnes of seeds per day.
NACE Code : 1041
Imports from Brazil, Ukraine, Kazakhstan, China, India and Argentina.
Exports to Afghanistan and Pakistan.
The Company has the following facilities :
Owned premises comprising administrative offices, a factory and storage facilities located at the heading address.
Dosova Street 2
Urgench 220100
Khorezmskaya Oblast
You enquired on: JSC URGANCH YOG. Please note that the registered name is as per heading.
Interviewed : Makhmud Bakhodyrovich Ibragimov (Corporate Adviser).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.41 |
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UK Pound |
1 |
Rs.86.93 |
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Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.