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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
EMKAN ELECTRIC CO |
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Registered Office : |
Unit 10, 2nd Fl.,
No.4, Fallah Bldg., Brazil St., Vanak Sq, Tehran |
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Country : |
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Date of Incorporation : |
17.06.1983 |
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Com. Reg. No.: |
53586 |
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Legal Form : |
Private Joint
Stock |
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Line of Business : |
The subject
involved in contractor
distribution and transmission lines, high voltage power transmission network,
all communication. |
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No. of Employees : |
40 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 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 |
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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."
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Source : CIA |
Company Name: EMKAN ELECTRIC CO
Persian Name: شرکت
امکان
الکتريک
Address: Unit 10,
2nd Fl., No.4, Fallah Bldg., Brazil St., Vanak Sq
Tehran 1435694543
Tel: + 98 21 88793140
Fax: + 98 21 88773449
Website: -
E-mail: emkan@gmail.com
Company was originally started as an
on 17/06/1983
Current Legal Form: Private Joint Stock
Registration Address: Unit 10, 2nd Fl.,
No.4, Fallah Bldg., Brazil St., Vanak Sq
Tehran
IRAN
Registration Number: 53586
Established Date: 17/06/1983
Registration Date: 17/06/1983
Registration Town: Tehran
National Id: 10100987156
Currency: Iranian
Riyals
Nominal capital: 1,000,000,000
|
Number of Shares: 1,000,000 |
Type of Shares: None Selected |
|
Issued Shares: - |
Value per share: 1000 |
Shareholders:
|
Shareholder Name |
Share % |
|
Mr. Naser Sohrabi Elakhchi Iran |
40% |
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Mr. Abdullah Iranpour Mobarake Iran |
20% |
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Mr. Bijan
Raieyati Iran |
40% |
Name: Mr. Naser Sohrabi
Elakhchi
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Name: Mr. Abdullah
Iranpour Mobarake
Position within the company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Bijan Raieyati
Position within the company: Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
The subject
involved in contractor
distribution and transmission lines, high voltage power transmission network,
all communication.
Local Reporters consider the investigated company to be Medium in their field of concern
Company Employs: 40
Sales: 100%
Nationally
Sales to: Group companies, General Public
Sales Term: Cash, Bank Transfer, accept credit, Letter of credit
Vehicles:
7
Operates Form: Owned: Office, Warehouse
Location: Central
Business Area, Main Road,
Bank Eghtesad Novin
Tehran
Iran
Bank Tejarat
Tehran
Iran
Information Financial is not available/applicable
Imports From:
Europe
Importing Terms: Bank Transfer
Import % and type of product: 60% Finished Goods
Export % and type of product: Subject does not export
Auditor: Tadbir Agahan Management Service and financial Organization
Solicitor: Mrs. Fatemeh Vahedi
Subject's payments reported to be: NO COMPLAINTS
Name/Title: Mr. Majid Rasouli – Sales Manager
Subject has confirmed the general details provided in the report.
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 business
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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.