MIRA INFORM REPORT

Report Date :

28.03.2014

IDENTIFICATION DETAILS

Name :	DASTPOKHT MADARBOZORG COMPANY
Formerly Known As :	JAM ZARRIN KOMEIL COMPANY
Registered Office :	No.202, Safaeiye St , Hesabi St Karaj Kordan, Tehran,
Country :	Iran
Date of Incorporation :	24.09.2004
Com. Reg. No.:	23352
Legal Form :	Private Joint Stock
Line of Business :	Manufacture of fish tunes, tomato pastes and honey
No. of Employees :	280

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 :	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, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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, 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: DASTPOKHT MADARBOZORG COMPANY

Address: No.202, Safaeiye St Hesabi St, Karaj, Tehran, Iran

Tel: + 98 21 88949181 / +98 262 4386185-7

Mobile: +98 912 2345154 / +98 262 4386188

Fax: + 98 21 88949181

Website: www.tuna.ir

E-mail: info@tuna.ir

History

Former Legal Name: Jam Zarrin Komeil Company

Date of Change: 28/06/2007

Registration & Legal Details

Current Legal Form: Private Joint Stock

Registration Address: No.202, Safaeiye St , Hesabi St

Karaj Kordan, Tehran, Iran

Registration Number: 23352

Registration Date: 24/09/2004

Registration Town: Tehran

Capital: 6,000,000,000 Iranian Riyals

Shareholders

Shareholders:

Shareholder Name	Share %
Zahed family Iran	95%
Mr. Maghsod Mortaz Iran	5%

Principals

Name: Mr. Abbas Zahed

Position within the company: Chairman, Managing Director

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi-English

Name: Mr. Hamidreza Zahed

Position within the company: Vice Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Name: Mr. Komeil Zahed

Position within the company: Member

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi, English

Name: Mr. Maghsod Mortaz

Position within the company: Member

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi, English

Activations

Manufacture of fish tunes, tomato pastes and honey.

Brands: YELLOFIN, MADAR BOZORG, YASHEEL

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

Operations

Company Employs: 280

Sales: 100% Nationall

Sales to: Group companies, General Public

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

Vehicles: 18

HQ Premises

Operates Form: Owned: Office, Factory

Location: Central Business Area, Main Road

Bankers

Bank Parsian

Bank Tejarat

Financial

Information Financial is not available/applicable

Imports

Imports From: India, China

Importing Terms: Bank Transfer

Import % and type of product: 10% Finished Goods

Export

Export % and type of product: Subject does not export

Related Companies

Auditor: Mrs. Soghra Ghasemi Mahi Abadi

Solicitor: Mrs. Maliheh Sadat Dojamfar

Payment

Subject’s payments reported to be: NO COMPLAINTS

Interview & Reporter Comments

Name/Title: Mr. Hamidreza Zahed – Vice Chairman

Subject has confirmed the general details provided in the report.

Conclusions

Local Reputation:

The company being investigated is considered by local reporters to be a Medium Trade Risk

Local informants consider granting of credit to be a fair trade risk

Owner/Shareholders Comments: Some of the owners / shareholders have an active participation in the running of the

business.

Age of Business: Old family business

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.13
UK Pound	1	Rs.99.65
Euro	1	Rs.82.91

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
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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