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Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
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Name : |
AZAR BATTERY ORUMIYEH CO |
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Registered Office : |
2nd St 24th Block 57361 Phase 1 Ind Township, Orumiyeh
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Country : |
Iran |
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Date of Incorporation : |
18.07.2001 |
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Com. Reg. No.: |
5164 |
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Legal Form : |
Private Joint Stock |
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Line of Business : |
Manufacture of
batteries for motor vehicles and electricity generation batteries |
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No. of Employees : |
120 |
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 |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Iran |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
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 a large share 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, some manufacturing, 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 Majles 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 legislation sought to 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. However, inflation in 2012 reached its highest level in four years, eroding the value of these cash payouts and motivating the Majles to halt planned price increases for the second half of 2012 through at least March 2013. New fiscal and monetary constraints on Tehran, following international sanctions in January against Iran''s Central Bank and oil exports, significantly reduced Iran''s oil revenue, forced government spending cuts, and fueled a 20% currency depreciation. Economic growth turned negative for the first time in two decades. 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: AZAR BATTERY ORUMIYEH CO
Also Trade as:
Azar Battery, Zeus
Address: 2nd St 24th
Block 57361 Phase 1 Ind Township
Orumiyeh 5736114847
Tel: + 98 441 4343222,
4343422, 4343620,
443 2383422, 2383222, 98 914 3411816, 914 1416113
Fax:
+ 98 441 4343621, 443 2383422
Website: www.azarbattery.ir
E-mail: info@azabattery-ur.com , office@azarbattery-ur.com
Company was originally started as an
on 2001
Current Legal Form: Private Joint Stock
Registration Address: 2nd St 24th Block 57361
Phase 1 Ind Township
Orumiyeh
IRAN
Registration Number: 5164
Registration Date: 18/07/2001
Registration Town: Orumiyeh
National Id: 10220089122
Capital:
6,000,000,000 Iranian Riyals
Shareholders:
|
Shareholder Name |
Share % |
|
Mr. Jafar Mortaz (Family) Iran |
100% |
Name: Mr. Jafar Mortaz
Position within the company: Chairman& Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Name: Mr. Mojtaba Mortaz
Position within the company: Vice
Chairman& Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Kazem Mortaz
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Maghsod Mortaz
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Manufacture of
batteries for motor vehicles and electricity generation batteries.
Local Reporters consider the investigated company to be Medium in their field of concern
Company Employs: 120
Sales: 100%
Nationall
Sales to: Group companies, General Public
Sales Term: Cash, Bank
Transfer, accept credit, Letter of credit
Vehicles: 30
Operates Form: Owned: Offices, Warehouses
Location: Central
Business Area, Main Road
Branch:
No, 4, Amin Alley, Jenah Highway, Azadi St, Tehran, Iran
Sales, Office
Tel: 98 21 66691143, 66009131, 66084229
Fax: 98 21 66062364
1st Industrial Zone Orumieh
Orumieh, Iran
Premised: Owned- Factory
Bank Parsian
Orumiyeh
Iran
Bank Saderat
Orumiyeh
Iran
Information Financial is not available/applicable
Imports From: Germany, France,
China
Importing Terms: Bank Transfer
Import % and type of product: 40%
Finished Goods
Export % and type of product: Subject does not export
Auditor:
Mr. Arya Negar Argham Service and Financial Organization
Solicitor:
Mr. Norali Abbasi
Subject’s payments reported to be: NO COMPLAINTS
Name/Title: Ms. Neda Zamani- Secretary
Subject has confirmed the general details provided in the report.
Local Reputation:
The company being investigated is considered by local reporters to be a Medium
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.62.13 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.