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Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SAZAN SANATI IRAN COMPANY |
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Registered Office : |
4th floor, No.289, Kolahdouz St,
Tehran |
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Country : |
Iran |
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Date of Incorporation : |
11.03.1993 |
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Com. Reg. No.: |
56920 |
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Legal Form : |
Private Joint Stock Company
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Line of Business : |
Subject is engaged in producing, design & installing coal, ore,
mineral, cement, plaster, porcelin, bone and china making preparation,
equipment and machinery for the plants |
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No. of Employees : |
30 |
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 complains |
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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 |
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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: Sazan Sanati Iran Company
Also Known as: Iran Industrial Manufacturing Company
Address: 4th floor, No.289, Kolahdouz St
Tehran, Iran
Telephone: +98
21 88504495-6
Fax: + 98 21 21 88504497
Website: www.sazand.com
E-mail: info@sazand.com
Current Legal Form: Private Joint Stock
Company
Registration Address:
4th floor, No.289, Kolahdouz St
Tehran, Iran
Start Date: 11/03/1993
Registration Number: 56920
Registration Date: 11/03/1993
Registration Town: Tehran
National Code ID: 10101020072
Currency: Iranian
Rials
Nominal capital: 1,500,000,000
Paid Up capital:
1,500,000,000
|
Number of Shares: 150,000 |
Type of Shares: |
|
Issued Shares: |
Value per share: 10,000 |
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Shareholder Names |
% of Voting/Non-Voting Capital |
|
Mr. Fariborz
Moghimi |
40% |
|
Mr. Javad Bazargan Harandi |
40% |
|
Mr.
Morteza Sarvi Ghamsari |
20% |
Name:
Mr. Fariborz
Moghimi
Position within the company:
Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code
ID:
Name:
Mr. Javad Bazargan Harandi
Position within the company:
Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code
ID:
Name: Mr. Morteza Sarvi Ghamsari
Position within the company: Managing
Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID:
Producing, Design & installing Coal, Ore, Mineral, Cement, Plaster, Porcelin,
bone and China Making preparation, equipment and machinery for the Plants.
Branch:
Ind. Township
35351 Semnan Ind. Township
Iran
Tel : +98 231 3352421
Fax : +98 231 3352167
Local Reporters consider the investigated company to be
Medium in their field of concern.
Company Employs: 30
Operates from: Owned, Office,
Factory
Location: Central
Business Area, Main Road
Imports :
Finished
Goods
Import%: 30%
Import from: Turkey, India
Import terms: letters of credit
Additional: Balance of 70 % purchased
via local market
Exports to: Iraq
Exporting Terms: Bank Transfer
Export % and type of product: 5% Finished Good
Territory: 95
% Nationality – 5% Internationally
Type of Customer: Group
Companies, Retailers, Public People
Terms of sales: letters of
credit
Vehicles:
Total number of vehicles: 4
It doesn’t have any related companies.
Bank Sepah
Solicitor:
Pasargad Tadbir Auditing Company
Auditors:
Mr. Ramin Maani
Subject's payments reported to be: Non- Complaint
Name/Title: Mr. Morteza Sarvi Ghamsari - Managing Director
He confirmed it.
Note: the
registered name of company is Sazan Sanati Iran
Company .
Local Reputation: The company being investigated is considered by local reporters to be a
Normal Trade Risk and to be fair.
Owner/Shareholders Comments:
All of owners
involved in the running of the business
Age of Business: Old Business
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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.