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Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ZAGROS PETROCHEMICALS COMPANY |
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Registered Office : |
No.88, Shida Alley, Khademi St, Shiraz Ave, Mollasadra Tehran |
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Country : |
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Date of Incorporation : |
16.09.2000 |
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Com. Reg. No.: |
148344 |
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Legal Form : |
Public Joint
Stock |
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Line of Business : |
Manufacture of chemical & petrochemical Products and
largest producer of Methanol |
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No. of Employees : |
500 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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: Zagros Petrochemicals Company
Also Trade as: ZPC
Persian Name: شرکت
پتروشيمي
زاگرس سهامي
عام
Address: No.88, Shida Alley, Khademi St, Shiraz
Ave, Mollasadra
Tehran
Postal Address: PO Box 15875-3396
Tel: + 98 21 88612100-9
Fax: + 98 21 88612005
Website: www.zpcir.com
E-mail: info@zpcir.com
Company was originally started as an on 16/09/2000
Current Legal Form: Public Joint Stock
Registration Address: No.88, Shida
Alley, Khademi St, Shiraz Ave, Mollasadra
Tehran
IRAN
Registration Number: 148344
Established Date: 16/09/2000
Registration Date: 16/09/2000
Registration Town: Tehran
National Id: 10101921174
Currency: Iranian
Riyals
Nominal capital:
240,000,000,000
|
Number of Shares: 24,000,000 |
Type of Shares: None Selected |
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Issued Shares: - |
Value per share: 10000 |
Shareholders:
|
Shareholder Name |
Share % |
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National Petrochemical Company. Iran |
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Parsian Oil and Gas Company Iran |
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Sepahan Hamon Investment Co Iran |
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Morvarid Industrial Investment Iran |
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Poshineh Chemical Industrial Group Iran |
|
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Alvand Ghadir Development Co Iran |
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Name: Mr. Morteza Azizi
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Name: Mr. Mohsen Najafi
Position within the company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Ahmad Baroul
Position within the company: Manager Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Adel Nejad Salim
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Ali Estakhri
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad Hassan Razeghiyan Jahromi
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad Hassan Razeghiyan Jahromi
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Jafar Lari
Position within the company: Public Relation
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Reza Delkhah
Position within the company: Financial Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Manufacture of chemical & petrochemical Products and largest
producer of Methanol
Local Reporters consider the investigated company to be Large in their field of concern
Company Employs: 500
Sales: 80%
Nationally, 20% International
Sales to: Group companies, General Public
Sales Term: Cash, Bank Transfer, accept credit, Letter of credit
Vehicles:
150
Operates Form: Owned: Office, Warehouse, and Factory
Location: Central
Business Area, Main Road,
Branch:
The Zagros petrochemical complex, located on
a 25-ha plot of land in
Pars Special Economic Energy Zone,
Assalouyeh, Iran
Tel: 98 772 7323293
Fax: 98 772 323293
Bank Tejarat
Tehran
Iran
Bank Saderat
Tehran
Iran
Information Financial is not available/applicable
Imports From:
Germany
Importing Terms: Bank Transfer
Import % and type of product: 40% Raw Materials
Export To: Europe
Exporting Terms: Bank Transfer
Export% and type product:
20% Finished Goods
Affiliated:
PARDIS PETROCHEMICAL CO
South Pars Special Economic Zone
Assaloyeh. Iran
SHIRAZ PETROCHEMICAL CO
Shiraz, Iran
KERMANSHAH PETROCHEMICAL CO
Kermanshah, Iran
TABRIZ OIL REFINING CO
Tabriz, Iran
MAROON PETROCHEMICAL CO
Iran
Auditor: Bahmand Hoshyar Financial organization
Solicitor: Bahmand Hoshyar Financial organization
Subject's payments reported to be: NO COMPLAINTS
Name/Title: Mr. Ali Moradi- Manager
Subject has confirmed the general details provided in the report.
Reporter Comment:
In the interview conducted with, Mr., he declined bank account numbers and financial details citing the grounds of company confidentiality.
Local Reputation:
The company being investigated is considered by local reporters to be a Normal
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 business
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.78 |
|
|
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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.