MIRA INFORM REPORT

 

 

Report Date :

25.09.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

RG BRands Kazakhstan TOO

 

 

Registered Office :

Raimbeka Street 212B, Almalinskiy District , Almaty 050034

 

 

Country :

Kazakhstan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

04.04.2006

 

 

Com. Reg. No.:

9589

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Producers of juices, beverages, mineral water, tea, chips under brand names DaDa, DaDa DAY, Nektar Solnechniy, Piala, Moye and Asu

 

 

No. of Employees :

500 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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Kazakhstan

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

kazakhstan - ECONOMIC OVERVIEW

 

Kazakhstan, geographically the largest of the former Soviet republics, excluding Russia, possesses enormous fossil fuel reserves and plentiful supplies of other minerals and metals, such as uranium, copper, and zinc. It also has a large agricultural sector featuring livestock and grain. In 2002 Kazakhstan became the first country in the former Soviet Union to receive an investment-grade credit rating. Kazakhstan's economy has largely recovered from the global financial crisis of 2008, and GDP increased 7% year-on-year in 2011. Extractive industries have been and will continue to be the engine of this growth. Landlocked, with restricted access to the high seas, Kazakhstan relies on its neighbors to export its products, especially oil and grain. Although its Caspian Sea ports, pipelines, and rail lines carrying oil have been upgraded, civil aviation and roadways have been neglected. Telecoms are improving, but require considerable investment, as does the information technology base. Supply and distribution of electricity can be erratic because of regional dependencies. At the end of 2007, global financial markets froze up and the loss of capital inflows to Kazakhstani banks caused a credit crunch. The subsequent and sharp fall of oil and commodity prices in 2008 aggravated the economic situation, and Kazakhstan plunged into recession. While the global financial crisis took a significant toll on Kazakhstan's economy, it has rebounded well. In response to the crisis, Kazakhstan's government devalued the tenge (Kazakhstan's currency) to stabilize market pressures and injected around $10 billion in economic stimulus. Rising commodity prices have helped revive Kazakhstan's economy, which registered roughly 7% growth in 2010-11. Despite solid macroeconomic indicators, the government realizes that its economy suffers from an overreliance on oil and extractive industries, the so-called "Dutch disease." In response, Kazakhstan has embarked on an ambitious diversification program, aimed at developing targeted sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing. In 2010 Kazakhstan joined the Belarus-Kazakhstan-Russia Customs Union in an effort to boost foreign investment and improve trade relationships. The government expects to join the World Trade Organization in 2012, which should also help to develop the manufacturing and service sector base.

 

Source : CIA

 

 

 

COmpany NAME

 

RG Brands Kazakhstan TOO (Correct)

R G BRands Kazakhstan LLP (Requested)

 

 

company ADDRESS

 

Street    : Raimbeka Street 212B

Area      : Almalinskiy District

Town      : Almaty 050034

Country   : Kazakhstan

Telephone : (7 727) 250 5740 ext. 4116 (Natalya Innokentievna Kim) / 250 9968 / 256 2177 / 258 2424 / Mobile (7

                    777) 470 4725

Fax           : (7 727) 250 1355

E-Mail       : elena.chumicheva@brands.kz    

 

Trading Style : DaDa / DaDa DAY / Nektar Solnechniy / Piala / Moye / Asu

 

Extended Name : RG Brands Kazakhstan Tovarishchestvo s Ogranichennoy Otvetstvennostyu

 

English Translation : RG Brands Kazakhstan LLP

 

Also known as : RG Brands Kazakhstan ZhShS

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Timur Seytkarymovich Kaltaev            Managing Director

 

2. Natalya Innokentievna Kim                  Chief Accountant

 

Total Employees : 500 plus

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

Subject is a Kazakhstani leading beverage producer and consumer goods

distributor. The Company consists of four production companies

producing juices, soft drinks, tea packaging and milk as well as two

distribution companies in Kyrgyzstan and Uzbekistan.

 

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 Kazakhstani importers.

 

Trade risk assessment : Normal

 

 

PRINCIPAL BANKERS

 

NAME     : HSBC BANK KAZAKHSTAN AO

Branch   : Dostyk Avenue 43

Town     : Almaty 050010

Telephone: (7 727) 259 6900

Fax      : (7 727) 259 6902       

Acc. No. : KZ509490001003003015

Acc. No. : KZ349490001003003012

Acc. No. : KZ079490001003003013

Acc. No. : KZ779490001003003014

Acc. No. : KZ139490001003003002 (003003602)

Acc. No. : KZ409490001003003001 (003003301)

Acc. No. : KZ889490001003003010 (001-003003-010)

Acc. No. : KZ619490001003003011 (001-003003-011)

BIK      : HSBCKZKA (190501949)

Tax No.  : RNN 600900133859 (600900133859)

 

The company also has an account with the following banks:

 

1. BTA Bank AO (frmly Bank Turan Alem AO)

   Zholdasbekova Street 97

   Samal-2 Microdistrict

   Almaty 050051

   Telephone: (7 727) 251 1438 / 251 1398

   Fax      : (7 727) 250 0111 / 250 0222

   Acc. No. : KZ32319H010001919319 

   Acc. No. : KZ65319H010004226743

   Acc. No. : KZ56319H010004256878

   Acc. No. : KZ29319H010003563232

   Acc. No. : KZ35319H010003691164 

   Acc. No. : KZ91319A010003700691

   Acc. No. : KZ94319A010003739631

   Acc. No. : KZ83319H010004935877

   Acc. No. : (909467522) 

   Acc. No. : (024467051)

   Acc. No. : (194101303)

   Acc. No. : KZ94319H010000630625 (553714873)

   Acc. No. : KZ64319H010000631165 (607714059)

   Acc. No. : KZ03319A010000460341 (914070316)

   Acc. No. : KZ73319A010000460342 (914070416)

   Acc. No. : KZ57319A010000460339 (930467316)

   Acc. No. : KZ84319A010000454906 (965467297)

   Acc. No. : KZ57319A010000454907 (918070397)

   Acc. No. : KZ30319A010000454908 (918070398)

   BIK      : ABKZKZKX (190501306) 

   Tax No.  : RNN 600900114104 (600900513079)

 

2. Kazkommertsbank AO

   Bayseitovoy Street, Novaya Ploschad 49

   Almaty 050000

   Telephone: (7 727) 258 5123 / 258 5435

   Fax      : (7 727) 258 5340

   Acc. No. : KZ929260201144312000 (006467006)

   Acc. No. : KZ109261802144312004 (013070613USD)

   Acc. No. : KZ809261802144312005 (013070613EUR)

   Acc. No. : KZ379261802144312003 (022467725)

   Acc. No. : KZ219261802144312000 (134467189)

   Acc. No. : KZ919261802144312001 (105070576USD)

   Acc. No. : KZ649261802144312002 (105070576EUR)

   Acc. No. : KZ539261802144312006 (153467160)

   Acc. No. : KZ969260701144312000 (002467962)

   BIK      : KZKOKZKX (190501724)

   Tax No.  : RNN 600400055239

 

3. Islamskiy Bank Al Hilal AO

   Al Farabi Avenue 36, Block B, 6th Floor

   Almaty 050059

   Telephone : (7 727) 233 0000

   Fax       : (7 727) 233 0000

   Acc. No.  : KZ642460000000000716   

   Acc. No.  : KZ372460000000000717 

   Acc. No.  : KZ102460000000000718  

   BIK       : HLALKZKZ

   Tax No.   : RNN 600700626333

 

4. Alyans Bank AO

   Zhibek Zholy Street 50

   Almaty 050044

   Telephone: (7 727) 258 4040

   Fax      : (7 727) 258 4040

   Acc. No. : KZ369650000070527089

   Acc. No. : KZ739650000070527490

   Acc. No. : KZ949650000070527791

   Acc. No. : KZ119650000040485960 (040485960) 

   BIK      : IRTYKZKA (190501794)

   Tax No.  : RNN 451800015025

 

5. Citibank Kazakhstan AO

   Park Palace, Building A

   Kazybek Bi Street 41

   Almaty 050100 

   Telephone: (7 727) 298 0400

   Fax      : (7 727) 298 0399

   Acc. No. : KZ6683201B0250275072 

   Acc. No. : KZ8383201T0250275048 (250275004)

   Acc. No. : KZ8383201D0250275056 (250275305) 

   Acc. No. : KZ6683201R0250275064 (250275606)

   Acc. No. : KZ8083201T0250275005 (250275800)

   Acc. No. : KZ8083201D0250275013 (250275101)

   Acc. No. : KZ6383201R0250275021 (250275402) 

   BIK      : CITIKZKA (190501832) 

   Tax No.  : RNN 600900130821 (600900130821)

 

6. Sberbank DB AO

   Kaldayakova Street 28

   Almaty 480100

   Telephone: (7 727) 250 0060

   Fax      : (7 727) 250 0063

   Acc. No. : KZ35914840914BC27807 (031070919)

   Acc. No. : KZ77914398914BC27811 (041467295)

   Acc. No. : KZ45914978914BC27808 (095070379)

   BIK      : SABRKZKA (190501914)

   Tax No.  : RNN 600900050984 (600900050984)

 

7. ATF Bank AO (frmly Almatinsky Torgovo-Finansovy Bank)

   Furmanova Street 100

   Almaty 050091

   Telephone: (7 727) 250 1994 / 250 7135

   Fax      : (7 727) 250 1995

   Acc. No. : KZ05826A1KZTD2017444

   BIK      : ALMNKZKA (190501956)

   Tax No.  : RNN 600900079718 (600400239284)

 

The company previously had an account with KazInvestBank AO, RBS Kazakhstan AO (frmly ABN-Amro Bank AO) and Halyk Bank AO (Narodniy Bank).

 

 

FINANCIAL INFORMATION

 

Private companies in Kazakhstan are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

 

The following financial information is obtained from the local tax office file :

 

Corporate Income Tax      : TENGE     7,400,000 – 2008 – exact

                          : TENGE    15,500,000 - 2009 - exact 

                          : TENGE     2,500,000 - 2010 – exact

                          : TENGE    20,500,000 - 2011 – exact

 

VAT Paid                  : TENGE    48,700,000 – 2008 – exact

                          : TENGE   454,100,000 – 2009 – exact

                          : TENGE 1,273,800,000 – 2010 – exact

                          : TENGE 1,040,800,000 – 2011 – exact

 

Individual Income Tax     : TENGE    80,500,000 – 2008 – exact

                          : TENGE   128,000,000 – 2009 – exact

                          : TENGE   125,200,000 – 2010 – exact

                          : TENGE   167,900,000 – 2011 – exact

 

Social Tax          : TENGE    58,800,000 – 2008 – exact

                          : TENGE    89,900,000 – 2009 – exact

                          : TENGE    90,600,000 – 2010 – exact

                          : TENGE   116,700,000 – 2011 – exact

 

Property Tax      : TENGE     8,100,000 – 2008 – exact

                          : TENGE     7,500,000 – 2009 – exact

                          : TENGE     5,400,000 – 2010 – exact

                          : TENGE   106,000,000 – 2011 – exact

 

Land Tax           : TENGE       100,000 – 2008 – exact

                          : TENGE       100,000 – 2009 – exact

                          : TENGE     3,100,000 - 2010 - exact 

                          : TENGE     1,200,000 – 2011 – exact

 

Tax on vehicles           : TENGE       200,000 – 2008 – exact

                          : TENGE     1,200,000 – 2009 – exact

                          : TENGE     1,400,000 - 2010 - exact 

                          : TENGE       500,000 – 2011 – exact

Tax on mineral extraction

tax (MET)                 : TENGE             0 – 2008 – exact

                          : TENGE             0 – 2009 – exact

                          : TENGE       100,000 - 2010 - exact 

                          : TENGE     5,500,000 – 2011 – exact

     

Other Income              : TENGE     6,800,000 – 2008 – exact

                          : TENGE     4,900,000 – 2009 – exact

                          : TENGE     7,400,000 – 2010 – exact

                          : TENGE     4,200,000 – 2011 – exact

 

Total Taxes Paid    : TENGE   210,600,000 – 2008 – exact

                          : TENGE   701,200,000 – 2009 – exact

                          : TENGE 1,509,500,000 – 2010 – exact

                          : TENGE 1,463,200,000 – 2011 – exact

 

Financial year ends 31 December.

 

The following Consolidated Balance Sheets as at 31 December of 2011 applies subject’s parent company, RG Brands AO:

 

                                         31/12/2010      31/12/2011

                                           (in thousands of TENGE)

ASSETS 

 

Long-term assets                        

Fixed assets                             18,853,954      17,178,983                                

Prepayments                                 167,556          80,502

Deferred income tax                         562,284               -

Bank deposits                               147,500         148,400

Goodwill                                     68,026          68,026

Intangible assets                            24,449          21,342

Total long term assets                   19,823,769      17,685,287

 

Current Assets                           

Inventories                               3,871,306       4,006,483 

Trade receivables                           618,313         922,507

Prepayments                                 151,468         221,866  

Other financial assets                    4,432,135       3,257,181

Other current assets                      1,878,870       2,170,653  

Bank deposits                                 1,194           1,430

Cash and cash equivalents                   130,075       4,267,329

                                         11,083,361      14,847,449

 

Assets classified as held for sale          481,217       1,687,470

 

Total Current Assets                     11,564,578      16,534,919

TOTAL ASSETS                             31,388,347      34,220,206

 

EQUITY AND LIABILITIES

 

Equity

Share capital                             1,840,296       1,840,296

Treasury shares                                   -          (4,564)

Additional paid-in capital                        -          67,129

Reserves                                  2,292,394       2,170,539

Undistributed profit                      3,669,011       4,864,797

Total shareholders' equity                7,801,701       8,938,197

 

Long-term liabilities

Loans                                     8,434,287       5,756,499

Bonds payable                             1,888,618       1,315,352

Other financial liabilities                 947,400         900,000

Deferred income tax                               -          40,763

Deferred revenues                            29,296               -

Loans from related parties                        -         630,904                

Payables                                  1,458,332         994,286

Total Long-term liabilities              13,734,736      10,278,808

Current liabilities

Payables                                  4,601,831       4,867,481

Loans from related parties                        -       2,131,241

Loans                                     3,230,733       5,610,764

Obligation bonds                            526,672         901,287

Obligations under finance leases            630,847         414,859

Other financial liabilities                 189,480         180,000

Taxes Payable                               376,927         602,122

Other accounts payable and accrued

liabilities                                 295,420         295,447

Total Current liabilities                 9,851,910      15,003,201

TOTAL LIABILITIES AND EQUITY             31,388,347      34,220,206               

 

 

CONSOLIDATED PROFIT AND LOSS ACCOUNT

 

Revenue                                  25,894,393      30,950,358

Cost of sales                           (16,812,931)    (19,811,798)

Gross profit                              9,081,462      11,138,560

Distribution costs                       (4,315,640)     (5,266,996)

General and administrative expenses      (2,185,890)     (2,848,875)

Financing expenses                       (1,784,359)     (1,365,397)

Income (loss) on foreign exchange           693,646          91,465

Investment income                           235,542          87,354

Other (expense) income                     (194,624)       (121,060)

Income (loss) before accounting for

income tax savings                        1,530,137       1,715,051

Savings on income tax                       486,555        (594,568)

Income (loss) for year                    2,016,692       1,120,483

Net income (loss) on financial assets

classified as available for sale              4,685           3,946

Effect of disposals of assets available

for sale during the year                     10,728               -

Exchange difference on translation

of foreign units                            (13,785)         (9,683)

Effect of a change in tax rate              (29,967)              -

Other comprehensive loss for the year,

net of income taxes                         (28,339)         (5,737)

 

Total comprehensive income (loss)

for year                                  1,988,353       1,114,746)

 

Income (loss) per common share in the

calculation of the base in dilute Tenge         585             327

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started :               4 April 2006

 

History :                        The subject company was established in Kazakhstan on 4 April 2006 and commenced production in 2008.

 

C.R. No. :                     9589 (issue date : 04/05/2009) 

 

Tax No.:                        RNN 600700571750

 

Business Identification No.: BIN 060440002605

 

Statistics No.:               OKPO 40772310

 

Capital :                        not given

 

Tovarishchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following sole shareholder

Directors

 

1. Timur Seytkarymovich Kaltaev        

  (Kazakhstani national / RNN 600411797195 / IIN/BIN 770615301843)

 

2. Natalya Innokentievna Kim            

  (Kazakhstani national / RNN 211510107949 / IIN/BIN 700328402181)

 

Shareholder                              

 

RG Brands AO                                    100%

Raimbeka Street 212B

Almaty 050034

Kazakhstan

Telephone: (7 727) 250 5740

Fax      : (7 727) 250 1355

Chairman : David Paul Westall

Employs: 32

Est.: 22 June 1998

C.R. No. : 4743 (issue date: 12/03/2010)

Former C.R. No. : 39023-1910-AO (issue date: 17/02/2004)

Tax No. : RNN 600400087818

Business Identification No.: BIN 010340003839

Statistics number : OKPO 39460628

Capital : TENGE 1,840,296,000

  

Affiliated companies of RG Brands Kazakhstan TOO :

 

Associates

 

1. RG Brands Kyrgyzstan OsOO             

   (fmly Express Trading Ltd OsOO)

   Kyrgyzstan

   (registered on 11 March 2004)

 

2. Uni Commerce Ltd TOO                  

   (registered 2003) 

 

3. RG Brands Tashkent OOO                

   Tashkent

   Uzbekistan 

   Est.: 2009    

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Producers of juices, beverages, mineral water, tea, chips under brand names DaDa, DaDa DAY, Nektar Solnechniy, Piala, Moye and Asu.

 

NACE Code: 1032 / 1104

 

Imports from Finland, the Netherlands, Russia, Switzerland, Spain,

Turkey, Poland and the Ukraine.

 

Exports to Kyrgyzstan, Turkmenistan, Tajikistan, Uzbekistan and Russia.

 

Overseas suppliers include :

 

- Nestle

  Rie Entre-Deux-Villes 12

  P.O. Box 380,

  CH 1814 La Tair de Peilz

  Switzerland

 

- Glaxo Smithkline

  Ul. Armii Ludong

  26 00 609 Warsaw

  Poland

 

- SCJ Eurafine Ltd

  Seller, Frimley Green

  Camberley

  Surrey GU16 7AJ

  UK

 

- JLJ Cilag AG International

  Lands & Gyr

  Strasse 1

  6300 Zug

  Switzerland

 

- Fritolay

  Eski Uskuder Caddesi

  Nora Center Kat 4,

  Kerekoy 34752

  Istanbul

  Turkey

 

 

FACILITIES

 

The Company has the following facilities :

 

Administrative offices located at the heading address as well as 2 manufacturing units located elsewhere in Almatinskaya Oblast and Kostanay.

 

 

REGISTERED OFFICE

 

Raimbeka Street 212B

Almalinskiy District

Almaty 050034

 

 

SPECIAL NOTE

 

You enquired on: R G BRands Kazakhstan LLP. Please note that the correct name is as per heading.  

 

Interviewed : Natalya Innokentievna Kim (Chief Accountant).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.29

UK Pound

1

Rs.86.44

Euro

1

Rs.68.95

 

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%)

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.