MIRA INFORM REPORT

 

 

Report Date :

18.12.2014

 

IDENTIFICATION DETAILS

 

Name :

BAL TEKSTIL TOO

 

 

Registered Office :

Building 15, Office 264 Enbekshinsky District Shymkent 160000

 

 

Country :

Kazakhstan

 

 

Date of Incorporation :

20.12.2011

 

 

Com. Reg. No.:

279

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of Carpets and Rugs.

 

 

No of Employees :

105

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Kazakhstan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

KAZAKHSTAN - ECONOMIC OVERVIEW

 

Kazakhstan, geographically the largest of the former Soviet republics, excluding Russia, possesses enormous fossil fuel reserves and plentiful supplies of other minerals and metals, such as uranium, copper, and zinc. It also has a large agricultural sector featuring livestock and grain. In 2002 Kazakhstan became the first country in the former Soviet Union to receive an investment-grade credit rating. Extractive industries have been and will continue to be the engine of Kazakhstan's growth, although the country is aggressively pursuing diversification strategies. Landlocked, with restricted access to the high seas, Kazakhstan relies on its neighbors to export its products, especially oil and grain. Although its Caspian Sea ports, pipelines, and rail lines carrying oil have been upgraded, civil aviation and roadways continue to need attention. Telecoms are improving, but require considerable investment, as does the information technology base. Supply and distribution of electricity can be erratic because of regional dependencies, but the country is moving forward with plans to improve reliability of electricity and gas supply to its population. At the end of 2007, global financial markets froze up and the loss of capital inflows to Kazakhstani banks caused a credit crunch. The subsequent and sharp fall of oil and commodity prices in 2008 aggravated the economic situation, and Kazakhstan plunged into recession. While the global financial crisis took a significant toll on Kazakhstan's economy, it has rebounded well, helped by prudent government measures. Rising commodity prices have helped the recovery. Despite solid macroeconomic indicators, the government realizes that its economy suffers from an overreliance on oil and extractive industries, the so-called "Dutch disease." In response, Kazakhstan has embarked on an ambitious diversification program, aimed at developing targeted sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing. In 2010 Kazakhstan joined the Belarus-Kazakhstan-Russia Customs Union in an effort to boost foreign investment and improve trade relationships.

 

Source : CIA

 

 

Company NAME

 

Bal Tekstil TOO (Correct)

LLP BAL TEKSTIL (Requested)

 

 

ADDRESS

 

Street                           : Lenger Highway 7

 

Area                                         : Ontustik Special Economic Zone, Village Zhuldyz  

 

Town                            : Sayramskiy District 160800

Province                       : Yuzhno-Kazakhstanskaya Oblast 

Country                         : Kazakhstan

 

Telephone                     : (7 7252) 921 444 / Mobile (7 701) 223 8607 / (7 701) 287 6777

Fax                               : (7 7252) 921 444

E-Mail                           : info@baltekstil.kz / zhomartkz@hotmail.com

Website                        : www.baltekstil.kz

 

Extended Name            : Bal Tekstil Tovarishchestvo s Ogranichennoy Otvetstvennostyu

 

English Translation        : Bal Tekstil LLP

 

Also known as               : Bal Tekstil ZhShS

 

 

SENIOR COMPANY PERSONNEL

 

  Name                                                             Position

 

1. Talgat Zhunisbekovich Iskhakhov                    General Director

 

2. Kuan Bayanovich Iskakov                               Commercial Director

 

3. Zhomart Kerimsheev                                      Executive Director

 

4. Gulchekhra Imankulovna Kabylbaeva              Chief Accountant

 

 

 

Total Employees  

 

105

 

 

PAYMENTS

 

No trade experience of payments is available.

 

Subject is a newly established business incorporated on 20 December 2011 and commenced production in October 2013.

 

Trade risk assessment : High

 

It is normal accepted practice for international suppliers to deal on secured terms with Kazakhstani importers.

 

 

PRINCIPAL BANKERS

 

NAME                           : SBERBANK DB AO

 

Branch                          : Kaldayakova Street 28

Town                            : Almaty

 

Telephone                     : (7 727) 250 0060

Fax                               : (7 727) 250 0063      

Acc. No.                       : KZ61914122203EU0000V

Acc. No.                       : KZ32914398493BC00255

Acc. No.                       : KZ64914840493BC00277

Acc. No.                       : KZ55914CC39893391430

Acc. No.                       : KZ28914122203RU00005 

BIK                               : SABRKZKA

Tax No.                         : RNN 600900050984

 

The company also has an account with the following banks:

 

1. Kazakhstan-Ziraat International Bank DB AO

   Askarova Street 38

   Shymkent

   Telephone: (7 7252) 568 223

   Fax      : (7 7252) 568 223

   Acc. No. : KZ608853022038KHNC01 

   Acc. No. : KZ918853022036STJW00

   BIK      : KZIBKZKA (195801439)

   Tax No.  : RNN 600700148761 (582100288489)

 

2. Narodniy Bank Kazakhstan AO

   Abay Street 109B

   Almaty 050008

   Telephone: (7 727) 259 0777

   Fax      : (7 727) 259 0271

   Acc. No. : KZ486010002105963843    

   BIK      : HSBKKZKX

   Tax No.  : RNN 600200048129 

 

 

FINANCIAL INFORMATION

 

As the Company has only recently commenced production, relevant financial information is not available. However, the subject interviewed offered the following information :

 

Sales Turnover              : TENGE   500,000,000 - 2014 – exact *

                                    : TENGE 2,200,000,000 - 2014 - projected

 

Net Profit                      : TENGE    20,000,000 - 2014 – exact *

 

* 3 months results (January – March).

 

Financial year ends 31 December.

 

The following financial information is obtained from the local tax office file :

 

VAT Paid                      : TENGE           0 - 2012 – exact

                                                : TENGE           21,000 - 2013 – exact

                                                : TENGE           71,765,900 - 2014 – exact *

 

Individual Income Tax    : TENGE           90,900 - 2012 – exact

                                                : TENGE           467,300 - 2013 – exact

                                    : TENGE           3,877,100 - 2014 – exact *

 

Social Tax                     : TENGE           88,900 - 2012 – exact

                                                : TENGE           438,000 - 2013 – exact

                                                : TENGE           3,607,200 - 2014 – exact *

 

Vehicle tax                    : TENGE          4,400 - 2012 – exact

                                                : TENGE         27,500 - 2013 – exact

                                                : TENGE         35,100 - 2014 – exact *

 

Other Income                : TENGE          1,500 - 2012 – exact

                                                : TENGE          8,700 - 2013 – exact

                                                : TENGE        149,700 - 2014 – exact *

 

Total Taxes Paid          : TENGE        185,600 - 2012 – exact

                                                : TENGE        962,500 - 2013 – exact

                                                : TENGE     84,125,100 - 2014 – exact *

 

* As of 1 November 2014.

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 20 December 2011

 

History : The subject company was established in Kazakhstan on 20 December 2011 and commenced production in October 2013.

 

C.R. No. : 279

 

Tax No.: RNN 581100222111

 

Business Identification No.: BIN 111240013497

Statistics No.: OKPO 51328765

 

Authorised Capital : TENGE 162,000

 

Paid-Up Capital : TENGE 162,000

 

Tovarishchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following shareholders :

Percentage

 

1. Kartal Hali Tekstil Sanayi Ve Ticaret A.S.              50%

   4. Organize Sanayi Bolgesi Bashpınar

   27000 Gaziantep 

   Turkey

   Telephone: (90 342) 357 0100

   Fax      : (90 342) 357 0111

   C.R. No. : 5260588162

 

2. Talgat Zhunisbekovich Iskhakhov                         25%

  (Kazakhstani national / RNN 600811186449 / IIN/BIN 680503300400

   ID No.: 020023955, issued on 29 September 2006)

 

3. Bayan Zhunisbekovich Iskakov                            25%

  (Kazakhstani national / RNN 600810987233 / IIN/BIN 621028300470

   ID No.: N09036550, issued on 18 October 2013)

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Manufacturers of carpets and rugs.

 

NACE Code: 1393

 

Imports from Turkey, Bangladesh, Russia, China and Indonesia.

 

Subject does not export, all sales are domestic.

 

 

FACILITIES

 

The Company has the following facilities :

 

6,000 sq. m. owned premises comprising administrative offices, a manufacturing unit and storage facilities located at the heading address.

 

 

REGISTERED OFFICE

 

Building 15, Office 264

Enbekshinsky District

Shymkent 160000

 

Until 24 September 2014 subject's registered address was:

Lenger Highway 7

Ontustik Special Economic Zone, Village Zhuldyz  

Sayramskiy District 160800

Yuzhno-Kazakhstanskaya Oblast 

 

 

SPECIAL NOTE

 

You enquired on: LLP BAL TEKSTIL. 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: Gulchekhra Imankulovna Kabylbaeva (Chief Accountant).

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.99.98

Euro

1

Rs.79.39

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

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.