MIRA INFORM REPORT

Report Date :

26.11.2012

IDENTIFICATION DETAILS

Correct Name :	ALIFARD COMPANY
Registered Office :	2nd St., Kaveh Ind. Town Ship, Saveh
Country :	Iran
Date of Incorporation :	21.10.1979
Com. Reg. No.:	764
Legal Form :	Private Joint Stock Company
Line of Business :	Manufacturer of fruit juice, concentrates and syrups.
No. of Employees :	400 employees

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 :	No Complaints
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 (31.03.2012)	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: ALIFARD COMPANY

Also Trade as: Sunich

Address: No.15, 12th St, Kheradmand Shomali St

Karimkhan Ave

Tehran

IRAN

Postal Address: P.O. Box: 1585877814

Tel: + 98 21 8926

+ 98 21 88830293

+ 98 255 2342347-8

Fax: + 98 21 88838553

+ 98 255 2342345

Website: www.sunich.org

E-mail: info@sunich.org

Company was originally started as an on 21/10/1979

Registration & Legal Details

Current Legal Form: Private Joint Stock Co

Registration Address: 2nd St., Kaveh Ind. Town Ship

Saveh

IRAN

Registration Number: 764

Established Date: 21/10/1979

Registration Date: 21/10/1979

Registration Town: Saveh

National Id: 10860214050

Capital

Currency: Iranian Riyals

Nominal capital: 30,000,000,000

Number of Shares: 3000000	Type of Shares:  None Selected
Issued Shares: -	Value per share:  10000

Shareholders

Shareholders:

Shareholder Name	Share %
Mr. Fardin Alizadeh Iran	50%
Mr. Yousef Kolahi Iran	25%
Mr. Sasan Mirasadollah Nejad Iran	25%

Principals

Name: Mr. Fardin Alizadeh

Position within the company: Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi-English

Name: Mr. Yousef Kolahi

Position within the company: Vice Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Name: Mr. Sasan Mirasadollah Nejad

Position within the company: Managing Director

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi, English

Name: Mrs. Haleh Alizadeh

Position within the company: Member

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi, English

Name: Mr. Ghodratollah Govahi

Position within the company: Commercial Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi, English

Name: Mr. Hossien Najmedin

Position within the company: Sales Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi, English

Activations

Manufacture of fruit juice, concentrates and syrups.

1-Product Safety Guarantee HACCP

2-Quality Management ISO 9001

3-Tast Laboratory ISO 17025

4- Environmental Management ISO 14001

-Food safety Management System ISO 22000

Local Reporters consider the investigated company to be Medium in their field of concern

Operations

Company Employs: 400

Sales: 80% Nationally, 20% International

Sales to: Group companies, General Public

Sales Term: Cash, Bank Transfer, accept credit, Letter of credit

Vehicles: 20

HQ Premises

Operates Form: Owned: Offices, Warehouse, and Factory

Location: Central Business Area, Main Road

Branch:

No. 17, Sam Alley, Ghaem Megham Street, Tehran

Telephone: 98 21 88344041-2

Brand:

Sunich

Bankers

Bank Eghtesad Novin 

Tehran

Iran

Bank Parsian

Tehran

Iran

Financial

Information Financial is not available/applicable

Imports

Imports From: Turkey, Europe

Importing Terms: Bank Transfer

Import % and type of product: 30% Raw Material

Export

Export To: Afghanistan, Iraq

Exporting Terms: Bank Transfer

Export% and type product: 20% Finished Goods

Related Companies

Auditor: Rahbord Arman Hesabrasi

Solicitor: Mr. Mahmoud Rajaie

Payment

Subject's payments reported to be: NO COMPLAINTS

Interview & Reporter

Comments

Name/Title: Mr. Hossien Najmedin Sales Manager

Subject has confirmed the general details provided in the report.

Conclusions

Local Reputation:

The company being investigated is considered by local reporters to be a Normal Trade Risk

Local informants consider granting of credit to be a fair trade risk

Owner/Shareholders Comments: Some 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.55.34
UK Pound	1	Rs.88.30
Euro	1	Rs.71.37

INFORMATION DETAILS

Report Prepared by :

MNL

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