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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MINSKIY TRAKTORNYI ZAVOD RUP |
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Registered Office : |
Dolgobrodskaya Street 29, Minsk 220009 |
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Country : |
Belarus |
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Date of Incorporation : |
29.05.1946 |
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Legal Form : |
Republican Unitary Enterprise |
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Line of Business : |
Importers, exporters and manufacturers of 24 types of tractors under the trade mark "Belarus" and spare parts as well as equipment and instruments |
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No. of Employees : |
20,000 (subject) 30,000 (group) |
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 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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Belarus |
C1 |
C1 |
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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 |
Belarus ECONOMIC OVERVIEW
As part of the former Soviet Union, Belarus had a relatively
well-developed industrial base; it retained this industrial base - which is now
outdated, energy inefficient, and dependent on subsidized Russian energy and
preferential access to Russian markets - following the breakup of the USSR. The
country also has a broad agricultural base which is inefficient and dependent
on government subsidies. After an initial burst of capitalist reform from
1991-94, including privatization of state enterprises, creation of institutions
of private property, and development of entrepreneurship, Belarus' economic
development greatly slowed. About 80% of all industry remains in state hands,
and foreign investment has been hindered by a climate hostile to business. A
few banks, which had been privatized after independence, were renationalized.
State banks account for 75% of the banking sector. Economic output, which had
declined for several years following the collapse of the Soviet Union, revived
in the mid-2000s thanks to the boom in oil prices. Belarus has only small
reserves of crude oil, though it imports most of its crude oil and natural gas
from Russia at prices substantially below the world market. Belarus exported
refined oil products at market prices produced from Russian crude oil purchased
at a steep discount. In late 2006, Russia began a process of rolling back its
subsidies on oil and gas to Belarus. Tensions over Russian energy reached a
peak in 2010, when Russia stopped the export of all subsidized oil to Belarus
save for domestic needs. In December 2010, Russia and Belarus reached a deal to
restart the export of discounted oil to Belarus. Little new foreign investment
has occurred in recent years. In 2011, a financial crisis began, triggered by
government directed salary hikes unsupported by commensurate productivity
increases. The crisis was compounded by an increased cost in Russian energy
inputs and an overvalued Belarusian ruble, and eventually led to a near
three-fold devaluation of the Belarusian ruble in 2011. In November 2011,
Belarus agreed to sell to Russia its remaining shares in Beltransgaz, the
Belarusian natural gas pipeline operator, in exchange for reduced prices for
Russian natural gas. Receiving more than half of a $3 billion loan from the
Russian-dominated Eurasian Economic Community Bail-out Fund, a $1 billion loan
from the Russian state-owned bank Sberbank, and the $2.5 billion sale of
Beltranzgas to Russian state-owned Gazprom helped stabilize the situation in
2012; nevertheless, the Belarusian currency lost more than 60% of its value, as
the rate of inflation reached 53% in 2011 and 59% in 2012.
Source : CIA
Minskiy Traktornyi Zavod RUP (Correct)
MINSK TRACTOR WORKS REPUBLICAN UNITARY ENTERPRISE (Requested)
Street : Dolgobrodskaya Street 29
Town : Minsk 220009
Country : Belarus
Telephone: (375 17) 246 6009 / 246 6117 / 246 6251 / 230 1864 / 246 6040 / 230 8427 / 230 6333 /
230 6541 / 214 9492 / 246 6137 (HR) / 230 2572 (Vladimir Leonidovich Karpushenko)
Fax : (375 17) 230 8548 / 230 6291
E-Mail : oneaip@mail.ru / sales@tractors.com.by / sales@belarus-tractor.com
Website : www.belarus-tractor.com
Extended Name : Minskiy Traktornyi Zavod Respublikanskoe Unitarnoe Predpriyatie
Shortform Name : RUP MTZ
English Translation : Republican Unitary Enterprise Minsk Tractor Works
Name Position
1. Vladimir Fedorovich Volchok General Director
2. Sergey Pertovich Pahomchik First Deputy General Director /
Marketing Director
3. Nina Petrovna Primshits Deputy General Director
4. Igor Vyacheslavovich Emelyanovich Deputy General Director / Technical Director
5. Sergey Stepanovich Patskevich Deputy General Director / Commercial Director
6. A. V. Paturaev Deputy General Director /
Production Director
7. Anatoliy Stepanovich Vorobyev Deputy General Director /
Quality Control Director
8. Natalya Vitalyevna Gromyko Chief Accountant
9. Vladimir Leonidovich Karpushenko Head of Economic Analysis Department
10.Margarita Ivanovna Shvorob Head of Planning Department
11.Olga Valeryevna Ignatyeva Head of Forecasting Department
Total Employees : 20,000 (subject)
30,000 (group)
No complaints have been heard regarding payments from local suppliers or banks.
Subject is a member of PO Minsky Traktorny Zavod (Minsk Tractor Works
Production Association) which employs 30,000 people.
We consider it is acceptable to deal with subject for LARGE amounts,
although it is normal accepted practice for international suppliers
to deal on secured terms with Belarus importers.
Trade risk assessment : Normal
NAME : BELARUSBANK OJSC
Branch : Myasnikova Street 32
Town : Minsk 220050
Telephone: (375 17) 289 3830
Fax : (375 17) 226 4750
The Company also has an accounts with the following banks :
1. AKB Belvneshekonombank
Myasnikova Street 32
Minsk 220050
Telephone: (375 17) 209 2944
Fax : (375 17) 226 4809
2. Bank Moscow-Minsk JSC
Kommunisticheskaya Street 49/1
Minsk 220002
Telephone: (375 17) 237 9797
Fax : (375 17) 239 1709
State owned companies in Belarus are not required to publish or
disclose balance sheets. However, the subject interviewed offered
the following information (latest available) :
Sales
Turnover : B ROUBLE
2,652,259,000,000 - 2009 - exact
: B ROUBLE
3,399,259,000,000 - 2010 - exact
: B ROUBLE
6,454,178,000,000 - 2011 - exact
Net
Profit : B ROUBLE
69,748,000,000 - 2009 - exact
: B
ROUBLE 177,304,000,000 - 2010 - exact
: B ROUBLE
1,024,227,000,000 - 2011 - exact
Foreign Trade Turnover : US DLRS 1,034,000,000 - 2010 – exact
Export Amount : US DLRS 367,077,500 - 2004 - exact
: US DLRS 446,366,300 - 2005 - exact
: US DLRS 590,695,000 - 2006 - exact
: US DLRS 894,024,800 - 2007 - exact
: US DLRS 1,048,550,000 - 2008 – exact
: US DLRS 561,059,000 - 2009 – exact
: US DLRS 617,000,000 - 2010 – exact
Import Amount : US DLRS 417,000,000 – 2010 - exact
Financial year ends 31 December.
Date Started : 29 May 1946
Tax No. : UNP 101483199
Statistical No. : OKPO 057862065000
Authorised & Paid up Capital : B ROUBLE 921,917,228
Respublikanskoye Unitarnoye Predpriyatye (republican unitary
enterprise) fully responsible for its own undertakings.
Subject is responsible to Ministry of Industry of the Republic of Belarus.
Affiliated companies of Minsky Traktorny Zavod RUP :
Associates
1. Smorgonsky Agregatny Zavod
2. Bobruisky Zavod Traktornykh Detalei i Agregatov
3. Vitebsky Zavod Traktornykh Zapchastei
4. Minsky Zavod Spetsinstrumenta i Tekhnologicheskoi Osnastki
5. Minsky Zavod Shesteren
6. Lepelsky Elektromekhanichesky Zavod
7. Gomelsky Zavod Gidroprivod
8. Zavod Gidroapparatury v g. Khoiniki
9. Norovlyansky Zavod Gidroapparatury
10.Lepelskiy Remontno-Mekhanichesky Zavod
11.Mozyrsky Mashinostroitelnyi Zavod
The Company is involved in the following activities :
Importers, exporters and manufacturers of 24 types of tractors under
the trade mark "Belarus" and spare parts as well as equipment and
instruments.
NACE code: 2830.
Production Capacity : 24,700 tractors - 2002
27,000 tractors - 2003
34,594 tractors - 2004
42,205 tractors - 2005
50,058 tractors - 2006
60,537 tractors - 2007
66,538 tractors – 2008
46,688 tractors – 2009
44,193 tractors – 2010
10,000 tractors – 2011*
* 2 Months results (January – February).
The group also trades in pharmaceuticals, food products, consumer
goods and provides transportation services.
Imports from Russia, Ukraine, Germany and other European countries.
Exports to Russia (47%), UK, Denmark, Hungary, Poland, USA, Canada,
Latin America countries and CIS states.
The Company has the following facilities :
Manufacturing plant, extensive storage facilities and administrative
offices located at the heading address.
Dolgobrodskaya Street 29
Minsk 220009
You enquired on : MINSK TRACTOR WORKS REPUBLICAN UNITARY ENTERPRISE. Please note that this name applies to an English translation of the subject’s name. Subject’s correct registered name is as per heading.
Interviewed : Olga Valeryevna Ignatyeva (Head of Forecasting Department).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.78 |
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UK Pound |
1 |
Rs.99.06 |
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Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.