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Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BELORUSSKAYA
KALIJNAYA KOMPANIYA OAO |
|
|
|
|
Registered Office : |
2 Melnikaite
Street, 18th Floor, Suite 1805a Minsk 220004 |
|
|
|
|
Country : |
Belarus |
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|
|
|
Date of Incorporation : |
September
2013 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Trading as exporters of Belaruskaliy products mainly exports potash
fertilizers |
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|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New company |
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Payment Behaviour : |
Unknown |
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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) |
|
Belarus |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
BELARUS - ECONOMIC OVERVIEW
As part of the former Soviet Union, Belarus had a relatively
well-developed industrial base; it retained this industrial base - which is now
outdated, energy inefficient, and dependent on subsidized Russian energy and
preferential access to Russian markets - following the breakup of the USSR. The
country also has a broad agricultural base which is inefficient and dependent
on government subsidies. After an initial burst of capitalist reform from
1991-94, including privatization of state enterprises, creation of institutions
of private property, and development of entrepreneurship, Belarus' economic
development greatly slowed. About 80% of all industry remains in state hands,
and foreign investment has been hindered by a climate hostile to business. A
few banks, which had been privatized after independence, were renationalized.
State banks account for 75% of the banking sector. Economic output, which had
declined for several years following the collapse of the Soviet Union, revived
in the mid-2000s thanks to the boom in oil prices. Belarus has only small
reserves of crude oil, though it imports most of its crude oil and natural gas
from Russia at prices substantially below the world market. Belarus exported
refined oil products at market prices produced from Russian crude oil purchased
at a steep discount. In late 2006, Russia began a process of rolling back its
subsidies on oil and gas to Belarus. Tensions over Russian energy reached a
peak in 2010, when Russia stopped the export of all subsidized oil to Belarus
save for domestic needs. In December 2010, Russia and Belarus reached a deal to
restart the export of discounted oil to Belarus. Little new foreign investment
has occurred in recent years. In 2011, a financial crisis began, triggered by
government directed salary hikes unsupported by commensurate productivity
increases. The crisis was compounded by an increased cost in Russian energy
inputs and an overvalued Belarusian ruble, and eventually led to a near
three-fold devaluation of the Belarusian ruble in 2011. In November 2011,
Belarus agreed to sell to Russia its remaining shares in Beltransgaz, the
Belarusian natural gas pipeline operator, in exchange for reduced prices for
Russian natural gas. Receiving more than half of a $3 billion loan from the
Russian-dominated Eurasian Economic Community Bail-out Fund, a $1 billion loan
from the Russian state-owned bank Sberbank, and the $2.5 billion sale of
Beltranzgas to Russian state-owned Gazprom helped stabilize the situation in
2012; nevertheless, the Belarusian currency lost more than 60% of its value, as
the rate of inflation reached 53% in 2011 and 59% in 2012
|
Source
: CIA |
BELORUSSKAYA KALIJNAYA KOMPANIYA OAO (CORRECT)
JSC BELARUSIAN
POTASH COMPANY (Requested)
Street : 2
Melnikaite Street, 18th Floor, Suite 1805a
Town : Minsk
220004
Country : Belarus
Telephone: (375 17) 211 0435 / 211 0443 / 211 2066
(Financial Department) / 203 6302 (Grigoriy Vladimirovich Garbuzov) / 211 2813 / 211 2856 / 222 4633
/ 222 4634 / 222 4350
Fax : (375
17) 222 4634 / 211 2249
E-Mail :
g.garbouzov@belpc.by / finance@belpc.by / info@belpc.by
English
Translation : Belarusian Potash Company OJSC
Also known as
: Belorusskaya Kalijnaya Kompaniya Otkrytoye Aktsyonernoye Obshchestvo / BPC
OJSC / Belarusian Potash Company OAO
Name Position
1. Elena
Aleksandrovna Kudryavets General
Director
2. Aleksandr
Vladimirovich Polyakov First Deputy
General
Director
3. Grigoriy
Vladimirovich Garbuzov Deputy
General Director /
Finance
4. Mikhail
Mikhaylovich Kasko Deputy
General Director /
Logistics & Freight
5. Konstantin
Yuryevich Deduk Deputy General
Director /
Marketing
6. Evgeniy
Vasilyevich Lavrinovich Chief
Accountant
Total
Employees : 60
No
trade experience of payments is available.
Subject
is a newly established business incorporated in September 2013.
Opinion
on maximum credit : As the subject
has recently been
established and has no financial or
payment track record, we recommend
dealing on fully secured terms.
Trade
risk assessment : High
It
is normal accepted practice for international suppliers to deal on secured
terms with Belarusian importers.
BELARUS’ NEWLY
ESTABLISHED POTASH TRADER BUSY SELLING BELARUSKALI PRODUCTS
On 14 October
2013, (www.butb.by): OAO Belarusian Potash Company - Belarus’ newly established
potash trade – has been officially registered and is already selling
Belaruskali products to overseas customers, Belaruskali CEO Anatoli Makhlai
told.
OAO Belarusian
Potash Company was created in conformity with ordinance #399 signed by Belarus’
President Alexander Lukashenko on September 5, 2013. Empowered to coordinate
Belarus’ export of potash fertilizers, the new company was granted the
exclusive right to export mineral or chemical fertilizers.
Before the
breakup with Uralkali, Belaruskali had been trading potash via the Belarusian
Potash Company – a potash trader established on a parity basis by Belaruskali
and Uralkali. In July 2013 Uralkali announced a divorce from the Belarusian
Potash Company and the launch of a new sales strategy with focus on volume. The
conflict with Belaruskali landed Uralkali CEO Vladislav Baumgertner in jail in
August.
According to
Makhlai, Belaruskali now fully relies on OAO Belarusian Potash Company to ship
potash fertilizer to overseas customers.
NAME : ASB BELARUSBANK
Branch : Dzerzhinskogo Avenue 69/1
Town :
Minsk 220050
Telephone:
(375 17) 279 4879 / 279 4676
Fax :
(375 17) 279 4804
As the Company has only recently started trading, relevant financial
information is not available.
Date Started : September 2013
Tax No. : UNP
192050251
Authorised
& Paid-Up Capital : not given
Otkrytoye Aktsyonernoye Obshchestvo (open joint stock company) with the
following shareholders :
Shareholders Percentage
1. Belaruskaliy
OAO
48%
(Belaruskali OJSC)
Korzh Street 5
Soligorsk 223710
Belarus
Tel: (375 174) 237 203
Fax: (375 174) 237 165
(fmly Republican Unitary Enterprise
Production Amalgamation
Belaruskali)
2.
Belorusskaya Zheleznaya Doroga GO 42%
Lenina Street 17
Minsk 220030
Belarus
Tel: (375 17) 225 4946
Fax: (375 17) 227 5648
3.
Beleksimgarant Belorusskoe RUP
Eksportnogo-Importnogo Strahovaniya 10%
2 Melnikaite Street
Minsk 220004
Tel: (375 17) 209 4028
Fax: (375 17) 209 4067
Affiliated
companies of the subject company :
Associates
1.
Belorusskaya Kalijnaya Kompaniya ZAO
2 Melnikaite Street, 18th Floor, Suite 1805a
Minsk 220004
Telephone: (375 17) 211 0435 / 211 0443 /
211 2066
Fax
: (375 17) 222 4634 / 211 2249
E-Mail
: finance@belpc.by / info@belpc.by
Website
: www.belpc.by
General Director : Elena Aleksandrovna
Kudryavets
Employees : 110
Est.: April 2005
Tax No. : UNP 190615971
Capital : B ROUBLE 100,000,000
Shareholders :
Uralkaliy OAO - 50%
Belaruskaliy OAO - 45%
Belorusskaya Zheleznaya Doroga GO
- 5%
2. BPC Panama
Inc.
Paitilla Tower Office, Office No 11-11
8th Avenue South and 56th Street East
Panama City
Panama
Telephone: (507) 396 9182
Fax
: (507) 396 9183
Est.: 4 February 2011
C.R. No.: 726178
Sole shareholder: Belorusskaya Kalijnaya
Kompaniya ZAO
3. BPC
Fertilizantes Brazil Ltda.
Rua Joaquim Floriano, No. 466, 24 andar
Edifício Brascan Century Office, conj 2404
Cep
04534-002, Itaim
Sao Paulo
Brazil
Telephone: (55 11) 2165 2200
Fax
: (55 11) 2165 2206
Sole shareholder: Belorusskaya Kalijnaya
Kompaniya ZAO
4. BPC
Singapore Pte. Ltd.
101 Thomson Road
No. 28-02 United Square
Singapore 307591
Telephone: (65) 6251 1108
Fax
: (65) 6251 1098
5. BPC Chicago
L.L.C.
30 S Wacker Drive,
suite 2200, Chicago,
IL 60606 - United States
Telephone: (1 312) 466 7525
Fax
: (1 312) 466 5601
The Company is
involved in the following activities :
Trading as
exporters of Belaruskaliy products mainly exports potash fertilizers.
NACE Code :
4675
Subject does
not import any products at present.
Exports to 70
countries worldwide mainly to Europe, Norway, Belgium, China, India, Brazil,
Thailand, Bangladesh, Malaysia and Sri Lanka.
The Company
has the following facilities :
Administrative
offices located at the heading address.
2 Melnikaite
Street
Minsk 220004
You enquired
on: JSC BELARUSIAN POTASH COMPANY. Please note that the correct name is as per
heading.
Interviewed:
Grigoriy Vladimirovich Garbuzov (Deputy General Director / Finance).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
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 |
|
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.