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Report Date : |
29.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ARDH NAJIM AL ARAB GENERAL TRADING &
CONTRACTING CO LTD (ANA GROUP) |
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|
|
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Registered Office : |
Karadeh
Bahdhada Karada City St. 25m/909, City Code Baghdad |
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Country : |
Iraq |
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Year of Establishments: |
2003 |
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Com. Reg. No.: |
Not available |
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Legal Form : |
Legal Structure Not Ascertained |
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|
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Line of Business : |
Support activities for
petroleum and natural gas extraction |
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|
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No. of Employees : |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Iraq |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
IraQ ECONOMIC OVERVIEW
An improving security environment and foreign investment are helping to
spur economic activity, particularly in the energy, construction, and retail
sectors. Broader economic development, long-term fiscal health, and sustained
improvements in the overall standard of living still depend on the central
government passing major policy reforms. Iraq's largely state-run economy is
dominated by the oil sector, which provides more than 90% of government revenue
and 80% of foreign exchange earnings. Iraq in 2012 boosted oil exports to a
30-year high of 2.6 million barrels per day, a significant increase from Iraq's
average of 2.2 million in 2011. Government revenues increased as global oil
prices remained persistently high for much of 2012. Iraq's contracts with major
oil companies have the potential to further expand oil exports and revenues,
but Iraq will need to make significant upgrades to its oil processing,
pipeline, and export infrastructure to enable these deals to reach their economic
potential. The Iraqi Kurdistan Region's (IKR) autonomous Kurdistan Regional
Government (KRG) passed its own oil law in 2007, and has directly signed about
50 contracts to develop IKR energy reserves. The federal government has
disputed the legal authority of the KRG to conclude most of these contracts,
some of which are also in areas with unresolved administrative boundaries in
dispute between the federal and regional government. Iraq is making slow
progress enacting laws and developing the institutions needed to implement
economic policy, and political reforms are still needed to assuage investors'
concerns regarding the uncertain business climate, which may have been harmed
by the November 2012 standoff between Baghdad and Erbil and the removal of the
Central Bank Governor in October 2012. The government of Iraq is eager to
attract additional foreign direct investment, but it faces a number of
obstacles including a tenuous political system and concerns about security and
societal stability. Rampant corruption, outdated infrastructure, insufficient
essential services, skilled labor shortages, and antiquated commercial laws
stifle investment and continue to constrain growth of private, nonoil sectors.
Iraq is considering a package of laws to establish a modern legal framework for
the oil sector and a mechanism to equitably divide oil revenues within the
nation, although these reforms are still under contentious and sporadic
negotiation. Under the Iraqi Constitution, some competencies relevant to the
overall investment climate are either shared by the federal government and the
regions or are devolved entirely to the regions. Investment in the IKR operates
within the framework of the Kurdistan Region Investment Law (Law 4 of 2006) and
the Kurdistan Board of Investment, which is designed to provide incentives to
help economic development in areas under the authority of the KRG. Inflation
has remained under control since 2006 as security improved. However, Iraqi
leaders remain hard pressed to translate macroeconomic gains into an improved
standard of living for the Iraqi populace. Unemployment remains a problem
throughout the country despite a bloated public sector. Encouraging private
enterprise through deregulation would make it easier for Iraqi citizens and foreign
investors to start new businesses. Rooting out corruption and implementing
reforms - such as restructuring banks and developing the private sector - would
be important steps in this direction.
|
Source : CIA |
ARDH NAJIM AL ARAB GENERAL TRADING & CONTRACTING CO LTD (ANA GROUP)
Payment Record: UNDETERMINED
This rating is based on available data. In the event of additional information a possibility for a different rating applies.
Registration
Number: N/A
Registration
Date: N/A
Legal
Form: LEGAL
STRUCTURE NOT ASCERTAINED
Latest
Financials: N/A
Nominal Capital: N/A
Issued Capital: N/A
Turnover: N/A
Net Profit: N/A
Net Worth:
Company
Name: ARDH
NAJIM AL ARAB GENERAL TRADING &
CONTRACTING
CO LTD (ANA GROUP)
Country: IQ
Street
Name: KARADEH
BAHDHADA KARADA CITY ST. 25M/909
City
Code: BAGHDAD
Phone
Number: 07906342760
Company
Details
Company Name: ARDH
NAJIM AL ARAB GENERAL TRADING &
CONTRACTING CO LTD (ANA GROUP)
Also trades as: ARAB
STAR
Company acronym: NAN Group
Headquarter Address: Street 25, m /
909, Karadah,
Baghdad,
Iraq
Telephone: +964771
3814588
+964790 6342670
E‑Mail: info@ana‑iq.com
Web Site: www.ana‑iq.com
Company was originally started on 2003
Current Legal Form: LEGAL
STRUCTURE NOT ASCERTAINED
Year/Date Company Established: 2003
Information on Shareholders is not
available/applicable
Name: Mr Haider S
Address: Tel: 00964‑7906‑342670
Tel: 00964‑771‑3814588
Name: Ms landy
xiao
NACE Codes: 0910 Support
activities for petroleum and natural gas extraction
4299 Construction of other civil
engineering projects n.e.c.
suppliers of technical products and services for the oil and gas industry.
Subject is a general trading company with the resources to supply various technical and engineering material, its specialty focus in oilfield supplies, providing a full range of equipment, parts, accessories and services for Oil and Gas related projects
Subject's
activities:
CONSTRUCTION
Road Repair & Paving, Office building, warehouses, hospital clinic, schools, DFAC buidlng, Canal Cleaning, Water Tanks
PRODUCTS:
Oilfield
* Drilling Equipment
* Drilling Bits
* Measuring
Instruments
* Drilling and
Workover Rigs
* Pumps & Pump
Parts
* Laboratory
Equipment
* Oilfield Chemicals
* Line Pipes
* Fittings &
Flanges
* Downhole &
Handling Tools
* Wellhead Equipment
Metal Products
* Aluminum Wires
* Copper Rods
* Flats
* Grain Oriented
Silicon Steel
* Galvanized Steel
Coils
* IPE Steel Plates
* Chequered Plates
* Cold Rolled Coils
* Galvanized Coils
* Hot Rolled Coils
* GP / GC Sheets
* Hot Rolled Sheets
* Cold Rolled Sheets
Industrial Products
* Control Valves
* Gaskets, Flanges,
Fittings
* Switch Gears
* Pumps
* Filters
* Electrical
Pipes
Fittings
Shelves for
Warehouse
House & Office
Containers
Office & Home
Furniture
Generators
Trucks &
Equipment
Laboratory & Medical
Supplies & Equipments
Production Line
& Machineries
SERVICES:
Manpower Services
Vocational Training
HQ Premises Operates
from: Office
Location: Central
Business Area
Branches Basra,
Basra,
Iraq
Description of branch: Office
Sharja,
Sharja,
United Arab Emirates
Description of branch: Office
Guangzhou,
Guangzhou,
China
Description of branch: Office
Istanbul,
Istanbul,
Turkey
Description of branch: Office
Imports
Imports From: Europe,
Far East, USA
Agencies:
OTC USA TOOLS &
MACHINERY
Coats USA TOOLS &
MACHINERY
ARROW USA TOOLS &
MACHINERY
Grainger USA TOOLS &
MACHINERY
SOVIMP Italy TOOLS &
MACHINERY
Electrolux USA HOME &
OFFICE APPLIANCES
Herlitz Germany STATIONARY &
OFFICE SUPPLIES
Comet Korea
(South) OFFICE Furniture
R.A.Mobili Italy OFFICE
EQUIPMENTS
Beijing
Chengdong Prefabricated OFFICE
& HOUSE CONTAINERS
House
Co. Ltd
Hebei
Wanlong Steel Structure Co. OFFICE
& HOUSE CONTAINERS
LTD
Mac Power Japan PROJECTORS &
OFFICE
EQUIPMENTS
CNET Taiwan COMPUTER &
NETWORK
SUPPLIES
Domo Belgium CARPETS
Ranger USA TIRE CHANGER
& ALL TYPE OF
JACKS
Komax Korea
(South) MILITARY
CLOTHING
Trading & Selling
Type of Customer: Government Bodies,
Local Authorities, Oil & Gas
Companies
Subsidiaries
Affiliates
Information on Related Companies is not
available/applicable
Information on Bankers is not
available/applicable
Subject's payments reported to
be: UNDETERMINED
Reporter
Comment: Registration/ legal and
financial information is not publicly available. Thus all data stated
in the report was obtained directly from the Subject Company
and/ or other publicly available information. Therefore it should be used as a
point of reference as it is not possible to verify such data with official
sources.
We tried to contact subject company to the supplied phone
number but we are getting no
answer.
We sent them email asking them to contact us or provide us
with the their correct contacts, but we didn't receive any reply until today.
All information shown in report was obtained from subject’s
website and internet business
Directories including principles names whom we cannot
confirm what positions they hold in the company since reporter was not
successful in contacting the company.
“ANA Group has been conducting business with American
Coalition Forces in Iraq for more than 5 years and has completed more than 300
main procurements to JCC‑I, PCO and the US Army from 2004‑2009.
They team with companies from the US, Europe, and Middle East, Afghanistan and
Iraq to provide the highest level of satisfaction to their information
technology customers.
The ANA Group was established in 2003 and is an array of
construction, manufacturing, and trading companies in Iraqi. It is a respected
Iraqi 7UAE owned business with about 460 men and 65 women employees.”
Accounts Comments: Full Financial Statements were unavailable to local analysts so a complete and
accurate picture of the financial strength of the company could not be ascertained.
Our assessment and ratings are therefore based on non‑financial data.
Local Reputation: Local informants have not adequate information to assess the Subject's local reputation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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.