|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAMVAND ENTREPRENEURS COMPANY |
|
|
|
|
Formerly Known As : |
NIKSO KARAN
JAVAN COMPANY |
|
|
|
|
Registered Office : |
316M Piece, 3rd Golfeshan St, Dashtestan Blvd,
Shams Abad, Industrial Town, Tehran |
|
|
|
|
Country : |
Iran |
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|
|
|
Date of Incorporation : |
24.02.1999 |
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|
|
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Com. Reg. No.: |
173572 |
|
|
|
|
Legal Form : |
Private Joint Stock
Company |
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|
|
|
Line of Business : |
Manufacture of air
conditioning, cryogenic & thermal, radiator, aluminum and panel radiators
products. |
|
|
|
|
No of Employees : |
168 |
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 |
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|
|
|
Litigation : |
-- |
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: Damvand
Entrepreneurs Company
Also Trade as: Damvand Industrial
Group
Address: Unit 2,
Building 2, South Maleko Shoara Bhar Street,
Taleghani Ave
Tehran 1571816113
Telephone: +98 21 23590,
88313903
Fax: +98 21 88313906, 23590
Website: www.damavandmfg.com
E-mail: info@damavandmfg.com,
raad@damavandmfg.com
Current
Legal Form: Private Joint
Stock Company
Registration Address: 316M Piece, 3rd Golfeshan St, Dashtestan Blvd, Shams Abad
Industrial Town
Tehran, Iran
Start Date: 24/02/1999
Registration Number: 173572
Registration Date: 24/02/1999
Registration Town: Tehran
National Code ID: 10102159817
Note:
History
Previous Address: Unit 304, 3rd Floor, Shirin Building, No.2959, Valiasr
Ave
Tehran 1965663337
Iran
Date of Change: 29/05/2013
Note:
Former Legal Form:
Limited Liability Company
Date of change: 23/12/2012
Note:
Former Legal
Name: Nikso Karan Javan Company
Date of
Change: 14/06/2006
Currency: Iranian Rials
Nominal capital: 500,000,000
|
Number of Shares: 500,000 |
Type of Shares: |
|
Issued Shares: |
Value per share: 1,000 |
|
Shareholder Names |
% of Voting/Non-Voting Capital |
|
Mr. Mohammad
Vandani |
50% |
|
Mr. Vahab Mehrbod |
30% |
|
Mr. Mohsen Aslani
|
20% |
Name:
Mr. Mohammad
Vandani
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 0938352008
Name:
Mr. Vahab Mehrbod
Position within the company:
Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 0939762366
Name: Mr. Mohsen Aslani
Position within the company: Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID:
Name: Mr. Majid Sadeghi
Position within the company:
Sale Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-
English
National Code ID:
Manufacture of air conditioning,
cryogenic & thermal, radiator, aluminum and panel radiators products.
Branch:
316M Piece, 3rd Golfeshan St, Dashtestan Blvd, Shams Abad
Industrial Town
Tehran 18341
Iran
Tel: + 98 229 3380267
Fax: + 98 229 3380268
Premised: Owned- Factory
Unit 4, No.2816, Above Park Vey, Valiasr Ave
Tehran, Iran
Premised: Owned- After Sales Service Office
Tel: + 98 21 22021284 -
22021304 - 22021282 - 22021305, 23590
No.11, Shahed Chaman
Alley, South Kargar St
Tehran, Iran
Tel: + 98 21
66483839
Fax: + 98 21 66483839
Local Reporters consider the investigated company to be
Large in their field of concern.
Employees
Company Employs: 168
HQ Premises
Operates from: Owned, Offices, Warehouses
Location: Central Business Area, Main
Road
Imports
Imports : Finished Goods
Import%: 55%
Import from: Europe, Italy, South Korea
Import terms: letters of credit
Additional: Balance of 45 % 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:
15
Name: Sanat Saray
Damavand Company ( Related Company)
Name: Arka Sanat
Damavand Company ( Related Company)
Saman Bank
Solicitor: Mrs. Masomeh Karemi (National Code ID:0062709712)
Auditors: Mrs. Vida Ostovari (National Code ID: 4131872560)
Subject's payments reported to be:
Non- Complaint
Name/Title: Mr. Mohsen Aslani - Managing Director
Note:
Brands:
Mars , Megatherm
Note:
The subject has cities sale agencies in Yazd,
Isfahan, Mashhad cities.
Note:
The subject has after-sales services in Iran.
Note:
Trade name of the subject
is Damvand Industrial Group.
Local Reputation: The company being investigated is considered by local reporters to be a
Normal Trade Risk and to be fair.
Owner/Shareholders Comments:
All of owners involved in the running of the
business
Age of Business: Old Business
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.16 |
|
|
1 |
Rs. 103.44 |
|
Euro |
1 |
Rs. 85.26 |
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.