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Report No. : |
313773 |
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Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
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Name : |
LOGMAN FARM MMC |
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Registered Office : |
Moscow Avenue 73A, Yasamal District, Baku |
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Country : |
Azerbaijan |
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Date of Incorporation : |
28.01.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is Trading as importers, wholesalers and retailers
of pharmaceuticals |
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No. of Employee : |
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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Maximum Credit Limit : |
NEW MANAT 100,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Azerbaijan |
B2 |
B2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AZERBAIJAN - ECONOMIC OVERVIEW
Azerbaijan's high economic growth has been attributable to large and growing oil and gas exports, but some non-export sectors also featured double-digit growth, including construction, banking, and real estate. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline, the Baku-Novorossiysk, and the Baku-Supsa pipelines remain the main economic driver, but efforts to boost Azerbaijan's gas production are underway. The eventual completion of the geopolitically important Southern Gas Corridor between Azerbaijan and Europe will open up another, albeit, smaller source of revenue from gas exports. Azerbaijan has made only limited progress on instituting market-based economic reforms. Pervasive public and private sector corruption and structural economic inefficiencies remain a drag on long-term growth, particularly in non-energy sectors. Several other obstacles impede Azerbaijan's economic progress, including the need for stepped up foreign investment in the non-energy sector and the continuing conflict with Armenia over the Nagorno-Karabakh region. Trade with Russia and the other former Soviet republics is declining in importance, while trade is building with Turkey and the nations of Europe. Long-term prospects depend on world oil prices, Azerbaijan's ability to negotiate export routes for its growing gas production, and its ability to use its energy wealth to promote growth and spur employment in non-energy sectors of the economy.
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Source
: CIA |
LOGMAN FARM MMC
Street : Moscow Avenue 73A
Area : Yasamal District
Town : Baku
Country : Azerbaijan
Telephone : (994 12) 430 9288
Fax : (994 12) 430 9289
Extended Name : Logman Farm Mehdud Mesuliyyetli Camiyyeti
English Translation : Logman Farm LLC
Also known as : Logman Pharm MMC
Name Position
Khamlet Gursad
Oglu Mehdizada Managing Director
Total Employees :
50
No complaints have
been heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for MEDIUM amounts,
although it is
normal accepted practice for international suppliers to deal on secured terms
with Azerbaijani importers.
Opinion on
maximum credit : NEW MANAT 100,000
Trade risk
assessment: Normal
NAME : AGBANK OJSC
Branch : Landau Street 16
Town : Baku
Telephone: (994
12) 498 9615
Fax : (994 12) 498 9615
The company also has an account with the following banks:
1. Kapital Bank
OJSC
Fizuli Street 71
Baku AZ1014
Telephone: (994 12) 493 1882
Fax
: (994 12) 493 1882
2. Zamin Bank OJSC
Babek Avenue
Baku
Telephone: (994 12) 464 1401
Fax
: (994 12) 464 1401
Private companies
in Azerbaijan are not required to publish or disclose balance sheets. However,
the subject interviewed offered
the following
information :
Sales
Turnover : NEW MANAT 5,000,000 -
2014 - exact
Net Profit : not given but stated to be
profitable
Financial year
ends 31 December.
Date Started : 28
January 2011
History : The
subject company was established in Azerbaijan on 28 January 2011.
Tax No.: VOEN
1501723311
Authorised Capital
: NEW MANAT 20
Paid-Up Capital :
NEW MANAT 20
Mehdud Mesuliyyetli Cemiyyeti (limited liability
company)
with the following sole shareholder:
Orhan Gulizade 100%
The Company is
involved in the following activities :
Trading as
importers, wholesalers and retailers of pharmaceuticals.
NACE Code: 4646
Imports from
Europe, Germany, France, India, Turkey and Canada.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Owned office premises (650 sq. m.) and storage facilities
located at the heading address as well as 6 pharmacies located throughout
Azerbaijan.
Mirzabala
Mammadzada Street 11
Narimanov District
Baku AZ1033
As of 1 January 2006 the Government of
Azerbaijan redenominated NEW MANAT. One NEW MANAT equals 5,000 old NEW MANATs.
The address given
by you: UL M MAMADZADE 11, 1052, BAKU applies
to subject's registered office address. Please note that subject's administrative
office address is as per heading.
The postal code
given by you: 1052 is could not be verified.
Interviewed:
Khamlet Gursad Oglu Mehdizada (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.59 |
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|
1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.