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Report Date : |
16.12.2013 |
IDENTIFICATION DETAILS
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Name : |
TAHGHEGHATI VA TOLEDI CINNAGEN COMPANY |
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Registered Office : |
No.2, 7th St, Simayeh Iran St, Shahrak Gharb Ave, Tehran 1466998741 |
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Country : |
Iran |
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Date of Incorporation : |
05.04.1994 |
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Com. Reg. No.: |
22220 |
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Legal Form : |
Private Joint Stock Company |
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Line of Business : |
Manufacturer of human blood kit for injection drug and livestock and animal drugs, pharmaceutical veterinary preparations, probiotics, veterinary, antibiotics, veterinary and raw materials for pharmaceutical and biotechnology research and technology & cinnoex drugs (interferon beta) drug erythropoietin types of research kits. |
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No. of Employees : |
70 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Iran |
B1 |
B1 |
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Risk Category |
ECGC Classification |
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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 |
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: Tahgheghati va Toledi Cinnagen Company
Also Trade as: Cinnagen Company
Address:
No.2, 7th St, Simayeh Iran St, Shahrak Gharb Ave
Tehran 1466998741
Iran
Telephone: +98 21
42815, 44664991
Fax:
+ 98 21 88561575
Website:
www.cinnagen.com
E-mail:
info@cinngen.com, cinnagen@cinnagen.com, yarih@cinnagen.com
Current Legal Form:
Private Joint Stock
Company
Registration Address: No.2,
7th St, Simayeh Iran St, Shahrak Gharb Ave
Tehran 1466998741
Iran
Start Date: 05/04/1994
Registration Number: 22220
Registration Date: 05/04/1994
Registration Town: Karaj
National Code ID:
10101478992
Note:
The registered name of company is
Tahgheghati va Toledi Cinnagen Company.
Note:
Register Branch Office Address: No.2, 7th St, Simayeh Iran
St, Shahrak Gharb Ave
Tehran 1466998741, Iran
Telephone: +98 21 42815
Fax: 88561575
Note:
Previous Register Number: 104003
Date of Change: 24/01/2011
Currency: Iranian Rials
Nominal capital:
110,000,000,000
|
Number of Shares: 11,000,000 |
Type of Shares: |
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Issued Shares: |
Value per share: 10,000 |
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Shareholder Names |
% of Voting/Non-Voting
Capital |
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Mr. Ferydon Mahbodi |
45% |
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Mr. Seyed Hossein
Dabagheyan |
30% |
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Mrs. Haleh Hamedifar |
25% |
Name: Mr. Ferydon Mahbodi
Position within the company: Chairman& R&D Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID:
Name: Mr. Seyed Hossein Dabagheyan
Position within the company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID:
Name: Mrs. Haleh Hamedifar
Position within the company: Managing Director& Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Manufacture of human blood kit for injection drug and livestock and animal drugs, pharmaceutical veterinary preparations, probiotics, veterinary, antibiotics, veterinary and raw materials for pharmaceutical and biotechnology research and technology& cinnoex drugs (interferon beta) drug erythropoietin types of research kits.
Local Reporters consider the investigated company to be Large in their field of concern.
Branches:
1. No.72, Corner 3rd Sq, Semin Dasht Industrial Town, Triode Oil Depot , Malard
Road, Fardis Bridge
Tehran- Kraj 3165933155
Tel: + 98 261 6643712, 6623711
Fax: + 98 261 6643712, 6601175
Premised: Owned, Factory
2. 5th Floor, No.56, Azemi St, Phase 1, Ekbatan Shahrak Town
Tehran 1393845939, Iran
Tel: + 98 21 44666203-4
Fax: + 98 21 44664991
Premised: Owned, Office
Note:
The brands: ReciGen, Cinnoex, Reditux, Cinnafact, Cinnalf, Cinnapoietin, Cinnopar, Pegagen, Cinnarelin, Cinnotal
Company Employs: 70
Operates from: Owned, Offices, Warehouses, Laboratory,Factory
Location: Central Business Area, Main Road
Imports : Finished Goods
Import%: 40%
Import from: Europe, Germany
Import terms: letters of credit
Additional: Balance of 80 % purchased via local market
Exports to: Middle
East
Exporting Terms: Bank Transfer
Export % and type of product: 20%- Finished Goods
Territory: 80% Nationality, 20% Internationally
Type of Customer: Group Companies, Retailers, Public People
Terms of sales: letters of credit
Vehicles: Total number of vehicles: 15
Affiliates:
Fraunhofer Institute ( Germany ) (the largest applied research institute in Europe)
Firdous Distribution Company
Sinaclon Company ( Rented Company)
Bank Tejarat
Solicitor: Mr. Mansour Shams Ahmadi
Auditors: Shahedan Auditing Institute
Subject's payments reported to be:
Non- Complaint
Name/Title: Mrs. Haleh Hamedifar - Managing Director
Local Reputation: Normal Trade Risk and to be fair.
Owner/Shareholders Comments: Some of owners involved in the running of the business
Age of Business: Old Business
Note:
The registered name of company is Tahgheghati va Toledi Cinnagen Company.
Note:
Trade name of the subject is Cinnagen Company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
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UK Pound |
1 |
Rs.101.53 |
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Euro |
1 |
Rs.85.41 |
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 |
-- |
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.