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Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
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Name : |
ELIKA DEVELOPMENT EQUIPMENT COMPANY |
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Formerly Known As : |
Iran Regulator Co |
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Registered Office : |
32 East Hoveyzeh Street, Tehran |
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Country : |
Iran |
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Date of Incorporation : |
20.03.1977 |
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Com. Reg. No.: |
31703 |
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Legal Form : |
Private Joint
Stock Company |
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Line of Business : |
Manufacturing and machining of magnetic valves, thermocouples, piezo-electric igniters, pressure governors, auto air vents, as well as designing and producing different aluminum and brass parts |
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No. of Employees : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
B 1 |
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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 |
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: Elika
Development Equipment Company
Also Trade as: IRC
Persian Name: توسعه
قطعات الیکا
Address: 32 East
Hoveyzeh Street
Tehran 15599
Tel: + 98 21 88765030
Fax: + 98 21 88765030
Website: www.iranregulatorco.com
E-mail: info@iranregulatorco.com
Company was originally started on 1977
History:
Pervious Name: Iran Regulator Co
Date of Change: 19/06/2012
Current Legal Form: Private Joint Stock
Registration
Address: 32 East Hoveyzeh Street
Tehran
IRAN
Registration Number: 31703
Registration Date: 20/03/1977
Registration Town: Tehran
National id: 10100771493
Parent Co:
Butane Industrial Group
Iran
Shareholders:
|
Shareholder Name |
Share % |
|
Tola Industrial
Co Iran |
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Bita Yekta Botan
Co Iran |
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Name: Mr. Mohammad Taghi
Semnani
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Name: Mr. Masoud
Hossieni Mardi
Position within the company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Masoud Ebrahimi
Position within the company: Member& Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Manufacturing and machining of magnetic valves, thermocouples, piezo-electric igniters, pressure governors, auto air vents, as well as designing and producing different aluminum and brass parts
Local Reporters consider the investigated company to be Medium in their field of concern
Company Employs: 60
Sales: 100%
Nationally
Sales to: Group companies, General Public
Sales Term: Cash, Bank Transfer, accept credit, Letter of credit
Vehicles:
10
Operates Form: Owned: Office, Warehouse
Location:
Central Business Area, Main Road,
Bank Pasargad
Iran
Bank Melli
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: Parsian Agahan Management service and financial Organization
Solicitor: Mrs. Parvin Saberi Ghomi
Subject's payments reported to be: NO COMPLAINTS
Name/Title: Mr.
Subject has confirmed the general details provided in the report.
Reporter Comment:
In the interview conducted with, Mr., he declined bank account numbers and financial details citing the grounds of company confidentiality.
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
Note:
The register name of company is Elika Development
Equipment.
The Former legal name of company is Iran Regulator
Co.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
UK Pound |
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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 |
-- |
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.