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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
BURKIT OYLTEK TOO |
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Registered Office : |
Azattyk Avenue 74A, Atyrau 060005 |
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Country : |
Kazakhstan |
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Date of Incorporation : |
15.11.2010 |
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Com. Reg. No.: |
2733 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and wholesalers of industrial equipment, drilling and well equipment for oil and gas industry |
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No. of Employees : |
15 employees |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Kazakhstan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
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 |
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.
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Source : CIA |
Burkit Oyltek TOO (Correct)
Borkit Oiltech LLP
(Requested)
Building : Nurly Tau Business Centre, Office 44, 10th Floor,
Block 4A
Street : Al Farabi Avenue 7
Town : Almaty 050059
Country : Kazakhstan
Telephone : (7 727) 311 0017 ext. 700 / (7 7122) 457 190 / 457 191
Fax : (7 727) 311 0017
E-Mail : sales@borkitoiltech.com / s.mazur@borkitoiltech.com / n.alipkairova@borkitoiltech.com /
Extended Name : Burkit Oyltek Tovarishchestvo s Ogranichennoy Otvetstvennostyu
English Translation : Borkit Oiltech LLP
Also known as : Burkit Oyltek ZhShS
Name Position
1. Sergey Aleksandrovich Yevsyukov Managing Director
2. Nazgul Saktapbergenovna Alipkairova Chief Accountant
Total Employees : 15
No complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for MEDIUM amounts, although it is normal accepted practice for international suppliers to deal on secured terms with Kazakhstani importers.
Trade risk assessment: Normal
NAME : BANK TSENTRKREDIT AO
Branch : Rozybakieva Street 111
Town : Almaty
Telephone:
(7 727) 316 0209 / 244 3000
Fax : (7
727) 258 4510
Acc. No. : KZ438560000004282836
Acc. No. : KZ818560000004282831
Acc. No. : KZ928560000004282827
Acc. No. : KZ758560000004593339
Acc. No. : KZ808560000004996478
BIK :
KCJBKZKX
Tax No. : RNN 600700033173
The company also has an account with :
Narodniy Bank Kazakhstan AO
Abay Street 109B
Almaty 050008
Telephone : (7 727) 259 0777
Fax : (7 727) 259 0271
Acc. No. : KZ036010002103619775
BIK : HSBKKZKX
Tax No. : RNN 600200048129
Private companies in Kazakhstan are not required to publish or disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover : TENGE 230,907,000 - 2011 - exact *
: TENGE 543,986,000 - 2012 - exact **
: TENGE 1,100,000,000 - 2012 - projected
Net Profit : TENGE 35,528,000 - 2012 - exact **
Total Value of Stock Held : TENGE 8,000,000 (as of September 2012)
* First year of operations (February – January).
** 6 months results (January - June).
Financial year
ends 31 December.
The following financial information is obtained from the local tax office file :
Total Taxes Paid : TENGE 6,600,000 - 2011 - exact
The following financial information applies to subject’s
parent company, Burkit
Interneshnl TOO :
Sales
Turnover : US DLRS 7,000,000 - 2004 - exact
:
US DLRS 7,500,000 - 2005 - exact
:
TENGE 1,600,000,000 - 2006 - exact
:
TENGE 2,000,000,000 - 2007 - exact
:
TENGE 2,200,000,000 - 2008 - exact
:
TENGE 2,500,000,000 - 2009 - exact
Net
Profit : not given but stated to
be profitable
Financial year ends 31 December.
Date Started : 15 November 2010
History : The subject company was established in Kazakhstan on 15 November 2010 and started trading in February 2011.
C.R. No. : 2733
Tax No.: RNN 151000045955
Business Identification No.: BIN 101140009109
Statistics No.: OKPO 51071208
Authorised Capital : TENGE 141,300
Paid-Up Capital : TENGE 141,300
Tovarishchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following shareholders :
Shareholders Percentage
1. Burkit
Interneshnl TOO 90%
Azattyk Avenue 74A
Atyrau 060005
Kazakhstan
Telephone: (7 7122) 457 190 / Mobile (7 701) 945 9804
Fax : (7 7122) 457 190
E-Mail : a.kaskyrbayeva@borkit.com / i.alimova@borkit.com
Employs : 120
Est.: 27 July 2000
C.R. No. : 3450-1915-TOO
Tax No.: RNN 150100001552
Business Identification Number : BIN 000740000153
Statistics number : OKPO 39297306
Capital : TENGE 75,000
Sole Shareholder : Firas Salem (Syrian national)
2. Sergey Aleksandrovich Yevsyukov 5%
(Kazakhstani national / RNN 391711879256, IIN/BIN 780510302654
ID No. 018826960, issued on 30/03/2006)
3. Sergey Aleksandrovich Mazur 5%
(Kazakhstani national / RNN 430110080974, IIN/BIN 780105303254
Passport No. 2275136, issued on 08/11/1998)
Affiliated companies of Burkit Oyltek TOO :
Associates
1. Burkit Safety TOO
Azattyk Avenue 74A
Atyrau 060005
Kazakhstan
Telephone: (7 7122) 457 190
Fax : (7 7122) 457 190
Est.: 22 February 2008
Tax No.: RNN 150100259997
Business Identification No.: BIN 080240020322
2. Premier-Burkit Oilfield Services TOO
3. Borkit TOO
Gogolya Street 86, Office 323
Almaty 050091
Tel: (7 727) 250 6128
Fax: (7 727) 250 6129
The Company is involved in the following activities :
Trading as importers and wholesalers of industrial equipment, drilling and well equipment for oil and gas industry.
NACE Code: 4614
Imports from Europe, Germany, France, USA and India.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Rented premises comprising administrative offices and storage facilities located at the heading address as well as 2 branch offices located elsewhere in Aktobe and Aktau.
Subject previously was located at :
Nurly Tau Business Centre, Office 17, 5th Floor, Block 4A
7, Al Farabi Ave
Almaty 050059
Telephone : (7 727) 311 0248 / 311 1662
Azattyk Avenue 74A
Atyrau 060005
You enquired on: Borkit Oiltech LLP. Please note that this name applies to an English translation of the subject’s name. Subject’s correct registered name is as per heading.
The address which you provided: Office 17, 5th Floor, Block 4A 7, Al Farabi Ave., Nurly Tau Business Centre Almaty 050059 applies to subject's former address. Please note that subject's current administrative office address is as per heading.
The telephone numbers which you provided: 7-727-311-0248/7-727-311-1662 applies to subject’s former telephone numbers. Please note that subject’s current telephone numbers are as per heading.
Interviewed: Nazgul Saktapbergenovna Alipkairova (Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.53 |
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UK Pound |
1 |
Rs.86.82 |
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Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.