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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
VARDAX DYNAMIC MMC |
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Formerly Known As : |
Vardax Dynamic
Mehdud Mesuliyyetli Cemiyyeti |
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Registered Office : |
Ahmad Javad
Street 15, Baku AZ1005 |
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Country : |
Azerbaijan |
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Date of Incorporation : |
20.02.2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers,
wholesalers, retailers and distributors of software and antivirus solutions. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Azerbaijan |
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 |
AZERBAIJAN’S - ECONOMIC OVERVIEW
Azerbaijan's high economic growth during 2006-10
was attributable to large and growing oil and gas exports, but some non-export
sectors also featured double-digit growth, including construction, banking, and
real estate. In 2012, economic growth slowed to 2.2%. Continued production
declines in the oil sector were offset by strong growth in the non-oil sector.
However, the non-oil sector growth may be driven primarily by government
investment, which may not be sustainable if oil production continues to
decline. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline, the
Baku-Novorossiysk, and the Baku-Supsa pipelines remain the main economic
driver, but efforts to boost Azerbaijan's gas production are underway. The
eventual completion of the geopolitically important Southern Gas Corridor
between Azerbaijan and Europe will open up another, albeit, smaller soiurce of
revenue from gas exports. Azerbaijan has made only limited progress on
instituting market-based economic reforms. Pervasive public and private sector
corruption and structural economic inefficiencies remain a drag on long-term
growth, particularly in non-energy sectors. Several other obstacles impede
Azerbaijan's economic progress, including the need for stepped up foreign
investment in the non-energy sector and the continuing conflict with Armenia
over the Nagorno-Karabakh region. Trade with Russia and the other former Soviet
republics is declining in importance, while trade is building with Turkey and
the nations of Europe. Long-term prospects depend on world oil prices,
Azerbaijan's ability to negotiate export routes for its growing gas production,
and its ability to use its energy wealth to promote growth and spur employment
in non-energy sectors of the economy
|
Source
: CIA |
CO. NAME :
Vardax Dynamic MMC (Correct)
VARDAX DYNAMIC LLC (Requested)
Building : City
Centre 2nd Floor
Street : Ahmad Javad Street 15
Town : Baku AZ1005
Country : Azerbaijan
Mobile : (994 55) 437 0055 (Nicat Aydin Oglu
Mammadov) / (994 55) 956 2080
E-Mail : sales@wardax.com /
nicat.mammadov@wardax.com
Website : www.wardax.com
English
Translation : Vardax Dynamic LLC
Also known as :
Vardax Dynamic Mehdud Mesuliyyetli Cemiyyeti
Name Position
Nicat Aydin
Oglu Mammadov Managing Director
Total Employees
: 10
No trade
experience of payments is available.
Subject is a
newly established business incorporated on 20 February 2013.
Opinion on
maximum credit : As the subject has recently been
established and has no financial or
payment track
record, we recommend
dealing on fully
secured terms.
Trade risk
assessment : High
It is normal
accepted practice for international suppliers to deal on secured terms with
Azerbaijani importers.
Subject
declined to name its bankers.
As the Company
has only recently started trading, relevant financial information is not
available.
Date Started :
20 February 2013
Tax No.: VOEN
1802006251
Authorised
Capital : NEW MANAT 100
Paid-Up Capital
: NEW MANAT 100
Mehdud
Mesuliyyetli Cemiyyeti (limited liability company) with the following sole
shareholder:
Nicat Aydin
Oglu Mammadov
100%
The Company is
involved in the following activities :
Trading as
importers, wholesalers, retailers and distributors of software and antivirus
solutions.
NACE Code :
4651 / 4741
Imports from
Russia.
Subject does
not export, all sales are domestic.
Subject is
distributor for Bitdefender.
The Company has
the following facilities :
Administrative
offices located at the heading address.
Mukhtar
Fataliyev Avenue (Bakikhanov Qes.) 46, Flat 49
Bakikhanov
Qesebesi (Settlement)
Sabunchu
District
Baku AZ1132
You enquired
on: VARDAX DYNAMIC LLC. 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 Registry
number given by you : 1301020007199200 is could not be identified. Please note
that subject’s correct tax number is VOEN 1802006251.
Interviewed:
Nicat Aydin Oglu Mammadov (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
<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.