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Report Date : |
25.09.2012 |
|
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|
|
Tel. No.: |
98 21 22176119 |
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Fax No.: |
98 21 22403719 |
IDENTIFICATION DETAILS
|
Name : |
SHIRIN ASAL COMPANY |
|
|
|
|
Registered Office : |
Shahid Salimi Industrial Zone, Township, KM 35 Azarshar Road Azar Shahr, Tabriz
Highway Tabriz |
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|
|
|
Country : |
Iran |
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|
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Date of Incorporation : |
10.09.1990 |
|
|
|
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Com. Reg. No.: |
5485 |
|
|
|
|
Legal Form : |
Private Joint Stock
Company. |
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|
|
|
Line of Business : |
Manufacturer of Cocoa and chocolate products, Oils and fats, edible,
Sugar confectionery, Biscuits, crackers, crisps and savory snacks |
|
|
|
|
No. of Employees : |
Total in the
group: 480 Total in the
company: 320 |
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) |
|
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 Name: Shirin Asal Company
Farsi Name: شرکت
شيرين عسل
Address: No. 4, Shahid Asgari Blind Alley, After
Felestin Sq, Felestin
Ave. PO Box: 14155 - 4411
Tehran, Iran
Telephone: +98
21 66463411, 66463370, 66408598-9, 66408649, 22176119
Fax: +98 21 66408538,
66485366, 22403719
Website: www.shirinasal.com
E-mail: info@shirinasal.com, asal@shirinasal.com, shirin@shirinasal.com
Current Legal Form: Private Joint Stock Company.
Registration
Address: Shahid Salimi
Industrial Zone, Township, KM 35 Azarshar Road
Azar Shahr, Tabriz Highway
Tabriz, Iran
Start Date:
10/09/1990
Registration Number: 5485
Registration Date: 10/09/1990
Registration Town: Tabriz
National Code ID:
Currency: Iranian Rials
Nominal capital: 150,000,000,000
|
Number of Shares: 1,500,000 |
Type of Shares: |
|
Issued Shares: |
Value per share: 100,000 |
|
Shareholder Names |
% of Voting/Non-Voting Capital |
|
Mr. Younes Zhaele Saad Abad |
40% |
|
Mr. Heydar Allahverdi Zeyaei |
30% |
|
Mr. Mohammad Ali Borhani Zad |
15% |
|
Mr. Hossien Solimani Yangajeh |
15% |
Name:
Mr.
Younes Zhaele Saad Abad
Position
within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 1582090645
Name: Mr. Heydar Allahverdi Zeyaei
Position within the
company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 1377052281
Name: Mr. Mohammad Ali Borhani Zad Position within the company: Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID:
Name: Mr. Hossien Solimani Yangajeh
Position within the company:
Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 1699231230
Name: Mr. Reza Nouri
Position within the company: Commercial Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-
English
National Code ID:
Name: Mrs. Maryam Aali Position within the company: Technical Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Manufacturer of Cocoa and chocolate products, Oils and fats, edible,
Sugar confectionery, Biscuits, crackers, crisps and savory snacks.
The subject has sales office in Germany, UAE,
Ivory Coast.
Stores:
1. No.1, Khazaei Pour Alley, Madain St, Nazi Abad Ave.
Tehran, Iran
Tel: + 98 21 55354039
2. Corner of 13th, Gohar Dasht, Karaj.
Karaj, Iran
Tel: + 98 263 4208390, 4208904
3. No.642, Corner of bahar, Bahar St.
Kermanshah, Iran
Tel: + 98 8317257649, 8317257645
(the subject has Sixty-four Stores in Iran)
Local Reporters consider the investigated company to be Large in
their field of concern.
Note:
Trade name of the subject is Shirin Asal Food Industrial
Group.
Brands:
Allina brand, Apollo brand, Baby brand, Barly brand, 7Morning,
Albina, Bon Bon, Carnival, cocoa
toffee, Coffee Candy, Dream, Extra taste, Festival,
Fruit toffee, Funbal, Hibye, HibyeCake, hiss,
Holiday, jelifun, krax, Maxi, Milky Bon,
Moonlight, Nani, Plenty, Popel, Romini, RoRo, Salty
cracker, shirinAsal, Smile, Taste it,
Tido, Tiny,TOP cake, Twisty taste.
Branches:
1. Shahid Salimi Industrial Zone,
Township, KM 35 Azarshar Road Azar Shahr, Tabriz Highway
Tabriz, Iran
PO Box: 51335- 1433
Tel:
+ 98 412 4328021-25
Fax: + 98 412
4328020
E-mail: info@shirinasal.com
Premised:
Owned- Factory
2. No.20, Akhoondi Passage, Jomhoori Islami Ave.
Tabriz 51000
Iran
Tel: +98 411 5276161
Fax: +98
411 5225477
Premised: Owned- Office
Employees
Company Employs: Total in the group: 480
Total in the company: 320
Operates from: Owned, Offices, Warehouses,
Laboratory, Factory
Location: Central Business
Area, Main Road
Imports
Imports : Finished
Goods
Import%: 20 %
Import from: Turkey, Germany, UAE
Import terms: letters of credit
Additional: Balance of 80 % purchased via
local market
Export : Finished
Goods
Export %: 35%
Export from: Oceania, Africa, Far East
Territory: 65%
Nationality, 35% Internationally
Type of Customer: Group Companies, Retailers, Wholesalers, Public Propel.
Terms of sales: letters of credit
Vehicles: Total number of vehicles:
10
Name: Sepehr Azerbaijan, Iran (Subsidiary)
Name: Azarsun, Iran(Subsidiary)
Name: AnsarCarton, Iran (Subsidiary)
Name: ShirinAsal University, Iran (Subsidiary)
Name: Kesht-Sanat Azerbaijan, Iran (Subsidiary)
Name: Shahd-e-Sahand, Iran (Subsidiary)
Name: ShirinAsal Sabalan, Iran (Subsidiary)
Name: AsiaPack
Azar, Iran (Subsidiary)
Name: Salemin,
Iran (Subsidiary)
Persian Bank
Melli Bank
Solicitor: Mr. Hamid Reza
Fazeli Oskoei (National Code ID:
1709334894)
Auditors:
Mr. Ali Ahmadi (National Code ID: 5059772810)
Subject's payments reported to be:
Non- Complaint
Name/Title: Mr. Mohammad Ali Borhani Zad - Managing Director
He confirmed the report.
Local Reputation: The company being investigated is considered by local reporters to be a Normal
Trade Risk and to be fair.
Owner/Shareholders Comments:
All of owners involved in the running of the
business
Age of Business: Old Business.
Note:
The address which
you provided is the factory address and the registered address of the subject.
Note:
The subject has Sales agencies
in most of Iran cities.
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.