MIRA INFORM REPORT

Report Date :

23.07.2014

IDENTIFICATION DETAILS

Name :	PARS TURK SILO COMPANY

Registered Office :	Shahrake Gharb Piroozan St, 10^th Lane Bldg No.4, Unit No.1 Tehran,

Country :	Iran

Date of Incorporation :	21.09.2009

Com. Reg. No.:	374104

Legal Form :	Limited Liability Company

Line of Business :	Manufacture of grain steel silos

No. of Employees	150

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Iran

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 name and address

Company Name: Pars Turk Silo Company

Address: Shahrake Gharb Piroozan St, 10^th Lane Bldg No.4, Unit No.1

Tehran, Iran

Telephone: +98 21 88687950, 88076139, 88367679, 88367467

88687950,88686951

Fax: + 98 21 88687950

Mobile: +98 912 6761370

Website: www.ptsilo.com

E-mail: info@ptsilo.com

Registration & Legal Details

Current Legal Form: Limited Liability Company

Registration Address: Shahrake Gharb Piroozan St, 10^th Lane Bldg No.4, Unit No.1

Tehran, Iran

Start Date: 21.09.2009

Registration Number: 374104

Registration Date: 21.09.2009

Registration Town: Tehran

National Code ID: 10320226373

Capital

Currency: Iranian Rials

Nominal capital: 4,999,000,000

Number of Shares: 4,999	Type of Shares:
Issued Shares:	Value per share: 1,000,000

Shareholders

Shareholder Names	Share%
Mr. Reza Vaziri	10%
Mr. Fatah Vaziri SaeidAbad	30%
Mrs. Shamsi Jangolto	20%
Mr. Mansour Vaziri	30%
Mr. Reza Vaziri	10%

Principals

Name: Mr. Fatah Vaziri SaeidAbad

Position within the company: Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

National Code ID: -

Name: Mrs. Shamsi Jangolto

Position within the company: Vice Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

National Code ID:

Name: Mr. Mansour Vaziri

Position within the company: Managing Director& Member

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

National Code ID: -

Name: Mr. Reza Vaziri

Position within the company: Member

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

National Code ID: -

Company Activities

Manufacture of grain steel silos.

Branches:

Shams Abad Industrial City, Iran

Premises (Type / Size / Tenure): Rented, Factory

Karaj-Ghazvin Highway, Iran

Premises (Type / Size / Tenure): Rented, Factory

Employees

Company Employs: 150

HQ Premises

Operates from: Owned, Offices, Factory

Location: Central Business Area, Main Road

Imports

Imports : Finished Goods

Import%: 40 %

Import from: Turkey, India

Import terms: letters of credit

Additional: Balance of 60% purchased via local market

Agencies:

Forro Silo

Turkey

Export

Exports to: -

Exporting Terms: -

Export % and type of product: -

Trading & Selling

Territory: 100% Nationality

Type of Customer: Retailers

Terms of sales: letters of credit

Vehicles: Total number of vehicles: 7

Related Companies

No related companies.

Banks

Saderat Bank

Financial Information

Solicitor: Mr. Reza Feyzi

Auditors: Mr. Hamid Monavar

Payments

Subject's payments reported to be: Non- Complaint

interview & reporter comments

Name/Title: Mr. SIavash Ghorbani – Manager

He confirmed it.

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 Family Business

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.24
UK Pound	1	Rs.102.87
Euro	1	Rs.81.44

INFORMATION DETAILS

Analysis Done by :	SUB

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
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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