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Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SANAYE BAFT VA TAKMIL IRAN COMPANY |
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Registered Office : |
No.65, West Nahid St, Africa Blvd Tehran 1967773615 |
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Country : |
Iran |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
22378 |
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Legal Form : |
Private Joint Stock Company |
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Line of Business : |
Manufacture of fabrics, textile polyester fibers & the colors
needed for dyeing and printing in textile industry. |
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No. of Employees : |
52 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Iran |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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: SANAYE BAFT VA
TAKMIL IRAN COMPANY
Also Trade as:
Forghani Loom Group
Address: No.65, West Nahid St, Africa Blvd
Tehran
1967773615
Iran
Telephone: +98 21 22055792, 22054724, 26200530,
22023641, 09121235440, 22023640
Fax: +98 21
22023642, 22011791
Website: www.forghanigroup.ir
E-mail: info@forghanigroup.ir
Current Legal
Form: Private Joint Stock Company
Registration Address: No.65, West Nahid St, Africa Blvd
Tehran 1967773615
Iran
Start Date: -
Registration Number: 22378
Registration Date: -
Registration Town: Tehran
National Code ID: 10100679397
Note:
Former Legal Form:
Limited Liability Company
Date of change: 13/11/2008
Currency: Iranian Rials
Nominal capital: 89,373,000,000
|
Number of Shares: 89373 |
Type of Shares: |
|
Issued Shares: |
Value per share: 1,000,000 |
|
Shareholder Names |
% of Voting/Non-Voting Capital |
|
Mr. Eng. Abbas Forghani |
45% |
|
Mrs. Hengameh Vishkeni |
35% |
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Mr. Mohammad Ali Sabagh |
20% |
Name:
Mr.Eng.
Abbas Forghani
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 0380864932
Name: Mrs.
Hengameh Vishkeni
Position within the company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 0041116348
Name: Mr. Alireza Arabian
Position within the company: Managing
Director (Out of shareholder)
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 0064799166
Name: Mr. Mohammad Ali Sabagh
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 0384016936
Name: Mr. Farshid Shakoori
Position within the company: Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID:
Name:
Mr. Shirin Forghani
Position within the company: Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID: 0080953948
Name: Mr. Mahdi Taghavi
Position within the company: R&D
Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
National Code ID:
Manufacture of fabrics, textile polyester fibers & the colors needed
for dyeing and printing in textile industry.
Hekmat Dahom St, Alborz Industrial Town
Qazvin 3431957757
Iran
Premised: Owned- Warehouse
Tel: + 98 282 2223935, 2848139, 09121235440
Fax: + 98 282 2223936
Local Reporters consider the investigated company to be
Medium
in their field of concern.
Company Employs: 52
HQ Premises
Operates from: Owned, Offices,
Warehouses
Location: Central Business
Area, Main Road
Imports : Finished Goods
Import%: 50 %
Import from: Europe, Turkey
Import terms: letters of credit
Additional: Balance of 50 % purchased via
local market
It doesn’t any export.
Territory: 100% Nationality
Type of Customer: Group Companies, Retailers
Terms of sales: letters of credit
Vehicles:
Total number of vehicles: 12
Name: Yas Nakh Production Company ( Sister Company)
Banks
Sepah Bank
Branch: Iran Shahr
Tehran, Iran
Solicitor:
Mr. Mohsen Golro (National Code
ID: 0056696833)
Auditors: Mr. Norala Shikholislami Kandelosi (National Code ID: 6269662826)
Subject's payments reported to be: Non- Complaint
Name/Title: Mr. Alireza Arabian - Managing Director
Note:
Trade name of the subject is Forghani Loom
Group.
Local Reputation: The company being investigated is considered by local reporters to be a
Medium 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.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
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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 |
|
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 |
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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 |
|
<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.