MIRA INFORM REPORT

Report Date :

12.11.2013

IDENTIFICATION DETAILS

Name :	TELKA COMPANY
Registered Office :	2nd Floor, No. 57 Mellat St, Amir Kabir St Tehran 1141613717
Country :	Iran
Date of Incorporation :	12.10.1968
Com. Reg. No.:	12394
Legal Form :	Limited Liability Company
Line of Business :	Subject is a general trading company and supplier of spare parts& accessories.
No. of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
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 31^st, 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 details

Company Name: Telka Company

Address: 2nd Floor, No. 57 Mellat St, Amir Kabir St

Tehran 1141613717

Iran

Telephone: + 98 21 3311 0861, 33941118-20, 912 1111491

Fax: +98 21 3311 7407

E-mail: telkaco@parsonline.net

Website: www.talkaoparsonline.net

Company was originally started on 1968

Registration detials

Current Legal Form Limited Liability Company

Registration Address: 2nd Floor, No. 57 Mellat St, Amir Kabir St

Tehran 1141613717

Iran

Registration Number: 12394

Registration Date: 12/10/1968

Registration Town: Tehran

National NO: 10100480012

Capital: 120,000,000 Iranian Riyals

Shareholders

It declined it.

Principals

Name: Mr. Hossein Chahar Soghi

Position within the company: Director

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Persian, English

Name: Mr. Abbas Chahar Soghi

Position within the company: Director

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Persian, English

Company Activities

It is general trading company and supplier of spare parts& accessories.

Local Reporters consider the investigated company to be Medium in their field of concern

Financial Information

Solicitor: Mr. Gholam Aslani

Auditors: Mr. Safar Naseri

Operations

Group Employs: 12

Sales: %55 National

Sales to: group companies, Importers, Exporters

Sales Term: Cash, Letter of Credit

Vehicles: 7

HQ Premises

Operates Form: Owned: Office, Warehouse

Location: Central Business Area, Side Road

Imports

Imports From: Europe, South Korea

Importing Terms: Letters of credit

Import % and type of product: 50% Finished Goods

Additional Information: Balance of %60 purchased via local market.

Related Companies

Name : Aluminum tube Mfg. Company ( Sister Company)

Interview & Reporter Comments

Name/Title: Mr. Hossein Chahar Soghi - Director

Conclusions

Local Reputation:

The company being investigated is believed by local reporters to be a Medium Trade Risk and to be fair.

Owner/Shareholders Comments: All or most 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.63.30
UK Pound	1	Rs.101.36
Euro	1	Rs.84.60

INFORMATION DETAILS

Report Prepared by :

NIS

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.