|
Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
PETRO SINA ARYA GAS AND OIL COMPANY |
|
|
|
|
Registered Office : |
No.14, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
14.06.2010 |
|
|
|
|
Com. Reg. No.: |
377660 |
|
|
|
|
Legal Form : |
Private Joint Stock Company |
|
|
|
|
Line of Business : |
Subject contractor and designing developing projects of energy industries
specially projects of the oil, gas and petrochemical industries, repair of
oil rigs . |
|
|
|
|
No of Employees : |
18 |
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 But Correct |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 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:
Petro Sina Arya Gas and Oil Company
Company Trade Name: Petro Sina Arya Company
Farsi Name:
شرکت
نفت و گاز
پترو سينا
آريا
Address:
No.14, Omidian St, Yaser Soudeh St, Shahed Bahonar Ave
Tehran, Iran
Website:
www.petrosinaco.com
E-mail:
info@petrosinaco.com
Current Legal Form:
Private Joint Stock Company.
Registration Address:
No.14, Omidian St, Yaser Soudeh St, Shahed Bahonar Ave
Tehran, Iran
Start Date:
14/06/2010
Registration Number:
377660
Registration Date:
14/06/2010
Registration Town:
National Code ID:
10320271046
Note:
The registered name of company is Petro Sina Arya Gas and Oil
Company.
Currency:
Iranian Rials
Nominal capital:
100,000,000,000
|
Number of Shares: 10,000,000 |
Type of Shares: |
|
Issued Shares: |
Value per share: 10,000 |
|
Shareholder Names |
% of Voting/Non-Voting Capital |
|
Mr. Hossein Ameri
|
40% |
|
Mr. Alireza Kherkhah Zadeh
|
25% |
|
Mr. Mahdi Dari Jani
|
20% |
|
Mr. Ahmad Estaki |
15% |
|
Name: |
Mr. Hossein Ameri
|
|
Position within the company: |
Chairman |
|
Country of Birth: |
Iran |
|
Nationality: |
Iranian |
|
Can fluently speak: |
Farsi- English |
|
National Code ID: |
4591082873 |
|
|
|
|
Name: |
Mr. Alireza Kherkhah Zadeh
|
|
Position within the company: |
Vice Chairman |
|
Country of Birth: |
Iran |
|
Nationality: |
Iranian |
|
Can fluently speak: |
Farsi- English |
|
National Code ID: |
2002439710 |
|
|
|
|
|
|
|
Name: |
Mr. Mahdi Darijani |
|
Position within the company: |
Managing Director |
|
Country of Birth: |
Iran |
|
Nationality: |
Iranian |
|
Can fluently speak: |
Farsi- English |
|
National Code ID: |
3110682087 |
|
|
|
|
Name: |
Mr. Ahmad Estaki |
|
Position within the company: |
Member |
|
Country of Birth: |
Iran |
|
Nationality: |
Iranian |
|
Can fluently speak: |
Farsi- English |
|
National Code ID: |
5759333151 |
|
|
|
|
Name: |
Mr. Eng. Hossein Shareif Abadi Askari |
|
Position within the company: |
Member |
|
Country of Birth: |
Iran |
|
Nationality: |
Iranian |
|
Can fluently speak: |
Farsi- English |
|
National Code ID: |
3051839752 |
|
|
|
|
Name: |
Mr. Mohammad Lak |
|
Position within the company: |
Member |
|
Country of Birth: |
Iran |
|
Nationality: |
Iranian |
|
Can fluently speak: |
Farsi- English |
|
National Code ID: |
0061132799 |
The subject contractor and designing developing projects of energy industries
specially projects of the oil, gas and petrochemical industries, repair of oil
rigs.
Branch:
No.49, Yakhchal Street, Tehran Islamic Republic of Iran
Tehran, Iran
Premised: Rented- Office
No.27, Shadab St, Sepahbod Gharani St
Tehran, Iran
Tel: + 98 21 88919056
Fax: + 98 21 88919057
Local Reporters consider the investigated company to be
Medium in their field of concern.
Employees
Company Employs: 18
HQ Premises
Operates from:
Owned, Offices, Warehouses
Location: Central
Business Area, Main Road
Imports
Imports : Finished Goods
Import%: 10%
Import from: Europe
Import terms:
letters of credit
Additional: Balance of 90 % purchased via local market
Export
It doesn’t any export.
Trading & Selling
Territory: 100% Nationality
Type of Customer: Group Companies, Retailers
Terms of sales: letters of credit
Vehicles: Total number of vehicles:
Name: Ariyana Petro Tavan Company, (Affiliated Company)
Mellat Bank
Branch: Mirdamad
Tehran, Iran
Saderat Bank
Branch: sirah Bahonar
Tehran, Iran
Solicitor: Montakhab Baseir Auditing
Services Institute
Auditors: Mr. Omran Sadeghiyan (National
Code ID: 0048874876)
Subject's payments reported to be:
Non- Complaint
Note:
Trade name of the subject is Petro Sina Arya Company.
Registered name of company is Petro Sina Arya Gas and Oil Company.
Note:
The telephone number of the company is not registered in Iran
Telecommunication directories.
The report is based on Iran Registry ONLY.
Local Reputation: The company being investigated is considered by local reporters to be a
High trade risk and to be secured.
Owner/Shareholders Comments:
Some of owners involved in the running of the business
Age of Business: Under Five Business
Clipping:
Date: 29 Aug 2010
Iran: Ahmadinejad faction's plunders
in the Oil Ministry
NCRI -
In the midst of growing divisions among the Iranian regime’s various factions,
a state-run media outlet has exposed a plan to plunder billions of dollars by
the regime’s Oil Ministry.
According
to Jahan News web site on Saturday, two companies whose initial capital was
only $100 were given a portion of the South Pars project worth over $21
billion.
The
agreement was signed in June, according to the news agency, which added that the
Petro Paydar Iranian Inc., which has a stake in the $5 billion consortium for
the development of Phase 13 of South Pars, was created on June 15, 2010 with an
initial cash on hand of $100 precisely on the day the agreement was signed. The
company was registered as no. 377800 and the national identity code of
10320271640.
According
to this report, the second company was the Petro Sina Arya Oil and Gas Company
Inc., which is involved in the five-billion-dollar consortium for phases 22-24
of South Pars. The company was registered on June 14, 2010, only a day prior to
the signing of the agreement, and it also had a capital of $100. It was
registered as no. 377660 and the national ID code of 10320271046.
Jahan
News added, “The fundamental and serious question that needs to be asked of the
respectable directors of the Oil Ministry and the President – in whose presence
the agreement was signed – is that how, why, and with what kind of a legal
permit have two $100 dollar companies, which had the same managers and shareholders
on the days they were created, were allowed to take part in multi-billion
dollar projects? They also had access to 3 billion Euros and 3 billion dollars
worth of bonds.
The
contract for the multi-billion dollar development of South Pars was awarded on
Tuesday, June 15, 2010 in the presence of the Iranian regime’s President,
Mahmoud Ahmadinejad.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.43 |
|
|
1 |
Rs. 102.48 |
|
Euro |
1 |
Rs. 85.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.