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Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SADID INDUSTRIAL GROUP COMPANY |
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Registered Office : |
No.185, Mirdamad St, Tehran |
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Country : |
Iran |
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Financials (as on) : |
29.03.2012 |
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Date of Incorporation : |
21.09.1963 |
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Com. Reg. No.: |
11607 |
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Legal Form : |
Public Joint
Stock |
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Line of Business : |
Subject is engaged in the designing, engineering, fabrication
of machines and equipment, production of spiral and longitudinal welded steel
pipes, general contracting of oil, gas, and petrochemical projects. |
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No. of Employees : |
450 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Iran |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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: SADID INDUSTRIAL GROUP COMPANY
Also Trade as:
Sadid Industrial Workshop Company
Address: 39 - Sixth Felez Tarash Str
Chardongeh Industrial Area – Tehran, Iran
Tel: + 98 21 22269970
Fax: + 98 21 22269971
Website: www.sadid.ir
E-mail: sadidig@sadid.ir
Company was originally started as an
on 1963.
Current Legal Form: Public Joint Stock
Registration Address: No.185, Mirdamad St,
Tehran, Iran
Registration Number: 11607
Registration Date: 21/09/1963
Registration Town: Tehran
National Id:
10100456884
Capital:
200,000,000,000 Iranian Riyals
Shareholders:
|
Shareholder Name |
Share % |
|
Sepahan Chehelsotoun Navard va Zob Co Iran |
33% |
|
Pars Kajal Kish Co Iran |
25% |
|
Louleh va Tajhizat Sadid Co |
10% |
|
Sadid Tadbir Investment Co |
8% |
|
Mr. Hamdellah
Mohammadnejad ghareh Deh |
15% |
|
Local Investors |
9% |
Name: Mr. Mohammad Reza
Rad
Position within the company: Commercial Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Name: Mr. Seyed Hamid Ataei Kachouli
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Gholmreza Manouchehri
Position within the company: Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Ebrahim Sadeghi
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Masoud Soltanpour
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mousa Refan
Position within the company: Member
Country of Birth: Iran
Nationality:
Iranian
Can fluently speak: Farsi, English
Name: Mr. Hamdellah Mohammadnejad ghareh Deh
Position within the company: Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
The subject is an industrial conglomerate in the fields
of designing, engineering, fabrication of machines and equipment, production of
spiral and longitudinal welded steel pipes, general contracting of oil, gas,
and petrochemical projects.
Branches:
39, 20th Str. (Sheshom Felez Tarash) Ghahar Dongeh Industrial City
Seveh, Iran
Premised: Owned- Factory
Local Reporters consider the investigated company to be LARGE in their field of concern
Company Employs: 450
Sales: 90% National,10%
International
Sales to: Group companies, General Public
Sales Term: Cash, Bank
Transfer, accept credit, Letter of credit
Vehicles: 30
Operates Form:
Owned: Offices, Warehouses
Location: Central
Business Area, Main Road
Branch:
No, 4, Amin Alley, Jenah Highway, Azadi St, Tehran, Iran
Sales, Office
Tel: 98 21 66691143, 66009131, 66084229
Fax: 98 21 66062364
Bank Parsian
Iran
Bank Saderat
Iran
Please find the attachment.
Imports From: Germany, France, China
Importing Terms:
Bank
Transfer
Import % and type of product: 30% Finished Goods
Export to:
China
Exporting Term: Bank
Transfer
Export % and type of product: 10% - Finished Goods
Auditor:
Daya Rayan Auditing Co
Solicitor:
Behrad Mashar Auditing Co
Affiliates:
Mahsharh Pipe Mill Co - Iran
SPECO- Iran
Sadid Taamin Mohandesi- Iran
SIG International Ltd- Iran
Sadid Tadbir- Iran
Taavan Baad- Iran
Petco- Iran
Saba Power- Iran
Falegh Sanat- Iran
Tasdid- Iran
Tavan- Iran
Subject’s payments reported to be: SLOW
Name/Title: Mr. Mohammad Reza Rad- Manager
Subject has confirmed the general details provided in the report.
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 business
Note: the trade name of company is Sadid Industrial
Workshop Company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
NNA |
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 |
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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 |
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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.