MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MURAD MIRZOYAN DIAMOND OOO |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.01.1996 |
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Com. Reg. No.: |
80.020.00292 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
importers and wholesalers of diamond and jewellery
product |
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No of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Armenia |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
Armenia - ECONOMIC OVERVIEW
After several years of double-digit economic growth, Armenia faced a severe economic recession with GDP declining more than 14% in 2009, despite large loans from multilateral institutions. Sharp declines in the construction sector and workers' remittances, particularly from Russia, led the downturn. The economy began to recover in 2010 with 2.1% growth, and has grown even faster in the three years since then. Under the old Soviet central planning system, Armenia developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics, in exchange for raw materials and energy. Armenia has since switched to small-scale agriculture and away from the large agroindustrial complexes of the Soviet era. Armenia's geographic isolation, a narrow export base, and pervasive monopolies in important business sectors have made it particularly vulnerable to the sharp deterioration in the global economy and the economic downturn in Russia. Since August 2011, Armenia has experienced a sharp currency depreciation. Armenia has only two open trade borders - Iran and Georgia - because its borders with Azerbaijan and Turkey have been closed since 1991 and 1993, respectively, as a result of Armenia's ongoing conflict with Azerbaijan over the separatist Nagorno-Karabakh region. Armenia is particularly dependent on Russian commercial and governmental support and most key Armenian infrastructure is Russian-owned and/or managed, especially in the energy sector. The electricity distribution system was privatized in 2002 and bought by Russia's RAO-UES in 2005. Natural gas is primarily imported from Russia but construction of a pipeline to deliver natural gas from Iran to Armenia was completed in December 2008, and gas deliveries expanded after the April 2010 completion of the Yerevan Thermal Power Plant. Armenia's severe trade imbalance has been offset somewhat by international aid, remittances from Armenians working abroad, and foreign direct investment. Armenia joined the WTO in January 2003. The government made some improvements in tax and customs administration in recent years, but anti-corruption measures have been ineffective and the economic downturn has led to a sharp drop in tax revenue and forced the government to accept large loan packages from Russia, the IMF, and other international financial institutions. Amendments to tax legislation, including the introduction of the first ever "luxury tax" in 2011, aim to increase the ratio of budget revenues to GDP, which still remains at low levels. Armenia will need to pursue additional economic reforms and to strengthen the rule of law in order to regain economic growth and improve economic competitiveness and employment opportunities, especially given its economic isolation from two of its nearest neighbors, Turkey and Azerbaijan.
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Source
: CIA |
Company name
Murad Mirzoyan Diamond OOO (Correct)
MURAD MIRZOYAN DIAMOND LLC
(Requested)
Company ADDRESS
Street : Charents
Street 35/3
Town : Nor Hachn
2412
Country : Armenia
Mobile : (374 91) 203 109
E-Mail : arman@mmdiamond.com
Website : www.mmdiamond.com
Shortform Name : MMD
English Translation : Murad Mirzoyan Diamond LLC
Also known as : MMD Ltd
SENIOR COMPANY PERSONNEL
Name
Position
1. Murad Mirzoyan Managing Director
2. Raffik Avetisyan Executive Director
3. Arman Avetisyan Marketing Director
Total Employees : 50
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts, however in view of the lack
of financial information we recommend international suppliers exercise a degree
of caution.
Trade risk
assessment: Above Average
It is normal
accepted practice for international suppliers to deal on secured terms with
Armenian importers.
PRINCIPAL
BANKERS
Subject declined to
name its bankers.
FINANCIAL
INFORMATION
Private companies
in Armenia are not required to publish or disclose balance sheets. Balance
sheets are not available from other sources, and the subject interviewed
declined to give any financial information, which the company regards as
strictly confidential.
LEGAL
STATUS AND HISTORY
Date Started : 18
January 1996
History : The
subject company was established in Armenia on 18 January 1996.
C.R. No. :
80.020.00292
Tax Code: 03302753
Capital : not given
Obshchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the
following shareholders :
Murad Mirzoyan 100%
(Armenian
national)
ACTIVITIES
The Company is
involved in the following activities :
Trading as
importers and wholesalers of diamond and jewellery
products.
Producers of the
technical stones.
NACE Code: 4648
Subject declined to
name its import and exports details.
FACILITIES
The Company has the
following facilities:
Premises comprising
administrative office and storage facilities located at the heading address.
REGISTERED
OFFICE
Charents Street 35/3
Nor Hachn 2412
Kotayk Region
SPECIAL
NOTE
You enquired on: MURAD
MIRZOYAN DIAMOND LLC. Please note that this name applies to an English
translation of the subject’s name. Subject’s correct registered name is as per
heading.
The address which
you provided: LLC 35/3, CHARENTS STR., NOR HACHN, 2412 applies to subject's
registered office address. Please note that subject's administrative office
address is as per heading.
Interviewed: Arman Avetisyan (Marketing
Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.92 |
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UK Pound |
1 |
Rs.98.66 |
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Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.