MIRA INFORM REPORT

 

 

Report Date :

08.11.2014

 

IDENTIFICATION DETAILS

 

Name :

SAVEH CHEMICALS INDUSTRIES COMPANY

 

 

Registered Office :

No.10, Siavash D. End, Farankhosro Ave Tajrish, Tehran 1989814514

 

 

Country :

Iran

 

 

Date of Incorporation :

14.07.1990

 

 

Com. Reg. No.:

80835

 

 

Legal Form :

Private Joint Stock Company

 

 

Line of Business :

Producer of all kinds of alkyd resins, amino resins, and paint driers.

 

 

No of Employees :

120

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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 Details

 

Company Name:                                  SAVEH CHEMICALS INDUSTRIES COMPANY

 

Also Known as:                                    Saveh Chemicals & Industries Research Company

 

Address:                                              No.10, Siavash D. End, Farankhosro Ave Tajrish, Tehran 1989814514, Iran

                                          

Telephone:                                          +98 21 22734909 / +98 86 42343186-7

Fax:                                                                  +98 21 22711352 / +98 86 42343189

 

Website:                                                 www.savehchemical.com

 

E-mail:                                                    info@savehchemical.com

 

 

Registration & Legal Details

 

Current Legal Form:                             Private Joint Stock  Company 

Registration Address:                           No.10, Siavash D. End, Farankhosro Ave Tajrish, Tehran 1989814514, Iran

       

Start Date:                                            14/07/1990

Registration Number:                            80835

Registration Date:                                 14/07/1990

Registration Town:                                Tehran

National ID:                                          10101255073

Chamber of Commerce No:                  280373

 

 

Capital

                                                   

Currency:                                             Iranian Rials

Nominal capital:                                               5,000,000,000      

Share No:                                             50,000

Share Value:                                        100,000 Iranian Rials     

 

 

Shareholders

 

Shareholder Names

% of Voting/Non-Voting Capital

Mr. Gholamhussein Dashti

45%

Mr. Reza Sabri

15%

Mr. Hassan Sabri

40%

 

 

Principals

 

Name:                                                              Mr.  Gholamhussein Dashti

Position within the company:               Chairman

Country of Birth:                                  Iran

Nationality:                                           Iranian

Can fluently speak:                               Farsi- English

 

 

Name:                                                              Mr. Reza Sabri

Position within the company:               Vice Chairman

Country of Birth:                                  Iran

Nationality:                                            Iranian

Can fluently speak:                                 Farsi- English

 

 

 

Name:                                                              Mr. Hassan Sabri

Position within the company:               Managing Director

Country of Birth:                                  Iran

Nationality:                                           Iranian

Can fluently speak:                               Farsi- English

 

 

Company Activities

 

Producer of all kinds of alkyd resins, amino resins, and paint driers.

 

Branches:

18 2nd Alley, Bistoum 87

Fatemi Sq, Tehran, Iran

Premised: Rented- Office

 

 

14th St, Kaveh Ind. Town

39131 Saveh, Iran

Premised: Owned- Factory

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

 

 

Employees

 

Company Employs:  120

 

 

HQ Premises

 

Operates from:                         Owned, Offices, Factory

Location:                                  Central Business Area, Main Road

 

 

Imports

 

Imports :                                    Finished Goods

Import%:                                    10%

Import from:                           India, Pakistan

Import terms:                          letters of credit

Additional:                              Balance of 90  % purchased via local market

 

 

Export

          

Exports :                                    Finished Goods

Export%:                                    5%

Export to:                                Afghanistan

Export terms:                          letters of credit

Additional:                              Balance of 95 % purchased via local market

 

 

Trading & Selling

 

Territory:                               95% Nationality, 5% Internationally

Type of Customer:               Group Companies, Retailers

Terms of sales:                      letters of credit

Vehicles:                              Total number of vehicles: 3

 

Related Companies

No Data

 

Banks

 

Melat Bank

Branch: Dr. Fatemi

Bank account: 17680867/59

 

 

Financial Information

 

Solicitor:  Mr. Farzmand Management Services and Auditing Co                                           

Auditors: Mrs. Sanaz Rashidi

Payments

 

Subject's payments reported to be: Non- Complaint      

 

 

Interview & reporter comments

 

Name/Title:  

                                                      Mr. Hassan Sabri – Managing Director : he verified it.

 

Note: the address which you provided is the branch address of the company.

 

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.61.52

UK Pound

1

Rs.97.39

Euro

1

Rs76.15

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

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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