MIRA INFORM REPORT

 

 

Report Date :

26.11.2013

 

IDENTIFICATION DETAILS

 

Name :

BURGER LTD.

 

 

Registered Office :

Ogonbayeva Street 222 Bishkek 720011

 

 

Country :

Kyrgyzstan

 

 

Date of Incorporation :

01.08.2003

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading as importers and distributors of polygraphic materials and chemical products.

 

 

No. of Employees :

7

 

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

 

 

Payment Behaviour :

No Complaints

 

 

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)

Kyrgyzstan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

KYRGYZSTAN - ECONOMIC OVERVIEW

 

Kyrgyzstan is a poor, mountainous country with a dominant agricultural sector. Cotton, tobacco, wool, and meat are the main agricultural products, although only tobacco and cotton are exported in any quantity. Industrial exports include gold, mercury, uranium, natural gas, and electricity. The economy depends heavily on gold exports - mainly from output at the Kumtor gold mine - and on remittances from Kyrgyzstani migrant workers primarily in Russia. Following independence, Kyrgyzstan was progressive in carrying out market reforms, such as an improved regulatory system and land reform. Kyrgyzstan was the first Commonwealth of Independent States (CIS) country to be accepted into the World Trade Organization. Much of the government's stock in enterprises has been sold. Drops in production had been severe after the breakup of the Soviet Union in December 1991, but by mid-1995, production began to recover and exports began to increase. In 2005, the BAKIEV government and international financial institutions initiated a comprehensive medium-term poverty reduction and economic growth strategy. The government made steady strides in controlling its substantial fiscal deficit, nearly closing the gap between revenues and expenditures in 2006, before boosting expenditures more than 20% in 2007-08. GDP grew about 8% annually in 2007-08, partly due to higher gold prices internationally, but slowed to 2.9% in 2009. The overthrow of President BAKIEV in April 2010 and subsequent ethnic clashes left hundreds dead and damaged infrastructure. Shrinking trade and agricultural production, as well as the political instability caused by the change in government, caused GDP to contract 0.5% in 2010. The fiscal deficit widened to 11% of GDP in 2010, reflecting significant increases in crisis-related spending, including both rehabilitation of damaged infrastructure and bank recapitalization. The economy grew 5.7% in 2011, but slowed to around 1% in 2012, primarily due to an 83% decrease in production from Kumtor. As a result, the budget deficit increased at year's end. Progress in fighting corruption, improving transparency in licensing, business permits and taxations, restructuring domestic industry, and attracting foreign aid and investment are key to future growth.

 

Source : CIA

 

company name

 

BYURGER OSOO (CORRECT)

BURGER LTD. (REQUESTED)

 

 

ADDRESS

 

Street   :                       Ogonbayeva Street 222

Town                             : Bishkek 720011

Country                         : Kyrgyzstan

 

Telephone                     : (996 312) 902 232 (Yana Vladimirovna Gnedash) / 902 233 / 430 022 / 430 033 / 430                  044 / 902 234 / 902 235 / Mobile (996 555) 580 414 (Leonid Ivanovich Chumakov)

Fax                                : (996 312) 902 234

E-Mail                           : leonid@burger.kg / shi-jana@mail.ru

 

Trading Style                 : Burger

 

English Translation         : Burger Ltd

 

Also known as               : Byurger Obshchestvo s Ogranichennoy Otvetstvennostyu

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Leonid Ivanovich Chumakov                 Managing Director  

 

2. Tatyana Gritsunyak                            Executive Director

 

3. Yana Vladimirovna Gnedash                Chief Accountant

 

Total Employees :                                  7

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts, although it is normal accepted practice for international suppliers to deal on secured terms with Kyrgyzstani importers.

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME               : KYRGYZSKIY INVESTITSIONNO-KREDITNIY BANK

 

Branch              : 8 Micro District, Building 28A

Town                 : Bishkek

 

Telephone         : (996 312) 512 380

Fax                   : (996 312) 512 380

 

The company had an account with :

 

Zalkar Bank OAO

Toktagula Street 187

Bishkek

Telephone         : (996 312) 554 444

Fax                   : (996 312) 554 444

 

 

FINANCIAL INFORMATION

 

Private companies in Kyrgyzstan are not required to publish or disclose balance sheets. However, the subject interviewed offered

the following information :

 

Sales Turnover               : SOM 39,122,805 - 2012 - exact

 

Net Profit                       : not given

 

Financial year ends 31 December.

 

The following financial information applies to Kantsler OsOO :

 

Sales Turnover               : SOM 12,970,462 - 2012 - exact

                                   : SOM  7,573,747 - 2013 – exact *

                                     : SOM 10,000,000 - 2013 – projected

 

Net Profit                          : not given

 

* 9 months results (January - September).

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started :    1 August 2003

 

History :            The subject company was established in Kyrgyzstan on 1 August 2003 with sole shareholder Ivan Kuzmich Chumakov. Later Ivan Kuzmich Chumakov, former shareholder, passed away and his shares were transferred to his son, Leonid Ivanovich Chumakov.

 

C.R. No. :          20618 

 

Tax No. :           INN 00108200310106

 

Capital :            not given

 

Obshchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following sole shareholder :

 

Leonid Ivanovich Chumakov                                    100%

(Son of Ivan Kuzmich Chumakov)

 

Affiliated company of the subject company :

Associate

 

Kantsler OsOO

Ogonbayeva Street 222

Bishkek 72001

Telephone: (996 312) 430 022 / 430 033 / 430 044

Fax      : (996 312) 902 234

E-Mail   : leonid@burger.kg

Website  : www.kanzler.kg

Managing Director : Leonid Ivanovich Chumakov

Est.: 5 August 1999

C.R. No. : 10703-3301-OOO

Tax No.: INN  00508199910055

Statistics No.: OKPO 22204430

Shareholders:

        - Leonid Ivanovich Chumakov - 50%

        - Viktor Vasilyevich Kulkin - 50%

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and distributors of polygraphic materials and chemical products.

 

NACE Code : 4675

 

Imports from Europe, Germany, UK, Italy, Belgium, Latvia and Czech Republic.

 

Exports to Kazakhstan, Tajikistan and Uzbekistan.

 

 

FACILITIES

 

The Company has the following facilities :

 

Shared premises comprising administrative offices and a retail outlet located at the heading address as well as storage facilities located at Industrial Zone, Bishkek.

 

Until 2012 subject was located at :

 

Matyeva Street 284

Leninskiy District

Bishkek

 

 

REGISTERED OFFICE

 

Matyeva Street 284

Leninskiy District

Bishkek

 

 

SPECIAL NOTE

 

The city name given by you: Kazakhstan is incorrect. Please note that subject is located in Kyrgyzstan.

 

Interviewed: Yana Vladimirovna Gnedash (Chief Accountant).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.58

UK Pound

1

Rs.101.42

Euro

1

Rs.84.70

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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