MIRA INFORM REPORT

Report Date :

23.12.2014

IDENTIFICATION DETAILS

Name :	NASSAJI IRAN RIS ALBORZ COMPANY
Registered Office :	No.17, Shahid Mohebbi St, North Sohrevardi Ave, Tehran
Country :	Iran
Date of Incorporation :	14.08.1980
Com. Reg. No.:	14927
Legal Form :	Private Joint Stock Company
Line of Business :	Engaged in spinning [We tried to confirm / obtain the detailed activity but the same is not available from any sources.]
No of Employees :	105

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Iran	b1	b1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Iran ECONOMIC OVERVIEW

Iran's economy is marked by statist policies, an inefficient state sector, and reliance on oil, a major source of government revenues. Price controls, subsidies, and other distortions 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. New fiscal and monetary constraints on Tehran, following the expansion of international sanctions in 2012 against Iran's Central Bank and oil exports, significantly reduced Iran's oil revenue, forced government spending cuts, and fueled a 60% currency depreciation. Economic growth turned negative in 2012 and 2013, for the first time in two decades. Iran continues to suffer from double-digit unemployment and underemployment. Lack of job opportunities has convinced many educated Iranian youth to seek jobs overseas, resulting in a significant "brain drain." However, the election of President Hasan RUHANI in June 2013 brought about widespread expectations of economic improvements and greater international engagement among the Iranian public, and early in Ruhani's term the country saw a strengthened national currency and a historic boost to market values at the Tehran Stock Exchange.

Source : CIA

Company Details

Company Name: Nassaji Iran Ris Alborz Company

Address: No.17, Shahid Mohebbi St, North Sohrevardi AveTehran, Iran

Tel: +98 511 609603

Fax: +98 511 609603

Company was originally started as an on 1980.

Registration & Legal Details

Current Legal Form: Private Joint Stock Company

Registration Address: No.17, Shahid Mohebbi St, North Sohrevardi Ave

Tehran, Iran

Registration Number: 14927

Registration Date: 14/08/1980

Registration Town: Tehran

Capital: 54,000,000,000

Share No: 54,000

Share Value: 1,000,000

Paid Up Capital: 34,000,000,000

National ID: 10861887326

Shareholders

Shareholder Names	Share%
Nakhbaf family	100%

Principals

Name: Ms. Amineh Nakhbaf

Position within the company: Vice Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi-English

Name: Mr. Gholamreza Nakhbaf

Position within the company: Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Name: Mr. Amirsaeid Nakhbaf

Position within the company: Managing Director

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Activations

The subject is involved in spinning.

Local Reporters consider the investigated company to be Medium in their field of concern

Operations

Company Employs: 105

Sales: 100% Nationally

Sales to: Group companies, General Public

Sales Term: Cash, Bank Transfer, accept credit, Letter of credit

Vehicles: 7

HQ Premises

Operates Form: Owned: Office , Factory

Location: Central Business Area , Main Road

Bankers

Pasargad Bank

Branch: Shahid Beheshti

Financial

Auditor: Aria Ravesh Auditing Co

Solicitor: Mr. Mohammadreza Abbasi

Imports

Imports From: Thailand, India

Importing Terms: Bank Transfer

Import % and type of product: 70% Finished Goods

Supplier:

Comt Light Trading LLC

Thailand

Export

Export % and type of product: Subject does not export

Related Companies

No Related companies

Payment

Subject's payments reported to be: NO COMPLAINTS

Interview & ReporteR

Comments

Following to the interview with Mr. Amirsaeid Nakhbaf ( Managing Director), he confirmed it.

Conclusions

Local Reputation:

The company being investigated is considered by local reporters to be a Medium Trade Risk and To Be Fair.

Owner/Shareholders Comments: None 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.63.18
UK Pound	1	Rs.98.85
Euro	1	Rs.77.42

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	MNL

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%)

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