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Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PART LASTIC INDUSTRIAL GROUP |
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|
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Registered Office : |
7th FL., Qetesazan Tower, Television Blvd Khorasan, Mashhad |
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Country : |
Iran |
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Date of Incorporation : |
16.03.1985 |
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Com. Reg. No.: |
2344 |
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Legal Form : |
Private Joint
Stock |
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Line of Business : |
Manufacturer of rubber & plastic molded parts, rubber &
plastic sealing systems, Anti vibration parts, Plastic fuel pipes, Tooling
& Machineries for rubber industry, paint and coating product |
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|
|
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No. of Employees : |
85 |
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 |
|
Status : |
Satisfactory |
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|
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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: PART LASTIC INDUSTRIAL
GROUP
Also Trade as: PART LASTIC
Group, PART LASTIC
Address: First
floor, No. 4, Near Mellat Bank, Salmas Square,
Fathi Shaghaghi Ave
Tehran 1431743763
Tel: + 98 21 88001954-5
Fax: + 98 21 88023471
Website: www.partlasticgroup.com
E-mail: salesoffice@partlastic.com, info@partlastic.com
Company was originally started as an
on 16/03/1985
Current Legal Form: Private Joint Stock
Registration Address: 7th FL.,
Qetesazan Tower, Television Blvd
Khorasan,
Mashhad
IRAN
Registration Number: 2344
Established Date: 16/03/1985
Registration Date: 16/03/1985
Registration Town: Mashhad
National Id: 10861660463
Currency: Iranian
Riyals
Nominal capital: 20,000,000,000
|
Number of Shares: 20,000,00 |
Type of Shares: None Selected |
|
Issued Shares: - |
Value per share: 10,000 |
Shareholders:
|
Shareholder Name |
Share % |
|
Mr. Abdullah Yazdanbakhsh (Family) Iran |
100% |
Name: Mr. Abdullah
Yazdanbakhsh
Position within the company: Chairman
Country of Birth: Iran
Nationality:
Iranian
Can fluently speak: Farsi-English
Name: Mr. Soheil
Yazdanbakhsh
Position within the company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Iraj Yazdanbakhsh
Position within the company: Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Masoud Hedeshi
Position within the company: Sales Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Ali Amarloo
Position within the company: Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Manufacture of rubber & plastic molded parts, rubber & plastic
sealing systems, Anti vibration parts, Plastic fuel pipes, Tooling &
Machineries for rubber industry, paint and coating product
Local Reporters consider the investigated company to be Medium in their field of concern
Company Employs: 85
Sales: 100%
Nationally
Sales to: Group companies, General Public
Sales Term: Cash, Bank Transfer, accept credit, Letter of credit
Vehicles:
25
Operates Form: Owned: Office, Warehouse, Factory
Location: Central
Business Area, Main Road
Branch:
South Koshesh Blvd, Faz 1, Toos Industrial
City,
Mashhad, Iran
Tel: 98 511 5413117
Fax: 98 511 5410517, 5413207
Bank Tejarat
Iran
Bank Saderat
Iran
Information Financial is not available/applicable
Imports From:
Europe
Importing Terms: Bank Transfer
Import % and type of product: 50% Raw Materials
Export % and type of product:
The Subject does not
export
Subsidiaries:
Poya Gostaran khorasan
Mashhad, Iran
Bespar Taban
Mashhad, Iran
Bespar Sazeh
Mashhad, Iran
Hamgar Toos
Mashhad, Iran
Paiymand khorasan
Mashhad, Iran
Parsa Yaran
Mashhad, Iran
Auditor: Kavoshgaran Afagha Financial Organization
Solicitor: Mr. Hamid Abolhasani
Subject's payments reported to be: NO COMPLAINTS
Name/Title: Mr. Masoud Hedeshi (Sales Manager)
Subject has confirmed the general details provided in the report.
Reporter Comment:
In the interview conducted with, Mr. Masoud Hedeshi(Sales Manager), 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 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.54.89 |
|
UK Pound |
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
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.