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Report No. : |
314943 |
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Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BOLLUQ LTD MMC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
14.02.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of confectionery
products such as chocolates, sweets, marmalades and biscuits under “Bolluq”
brand name. |
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No. of Employee : |
120 |
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
220,000 |
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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
|
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 |
CO. NAME : BOLLUQ
LTD MMC
ADDRESS
Street : Baku-Sumgait Highway 13th km
Area : Abseron District
Town : Khirdalan AZ0100
Country : Azerbaijan
Telephone: (994 12) 347 8312
ext. 221 (Aziz Gahramanov) / 347 6021 / 347 6980 / Mobile (994 50) 346 8289
(Azer Aliyev) / (994 50) 209 6053 (Azer Aliyev)
Fax : (994 12) 442 8312
E-Mail : azer_aliyev_bolluq@hotmail.com /
export@bolluq.az / mahmud@bolluq.az
Website : www.bolluq.az
Trading Style : Bolluq
English Translation :
Bolluq Ltd
Also known as : Bolluq Ltd
Mehdud Mesuliyyetli Cemiyyeti
Name Position
1. Mahmud Maḥammad Oglu Isgandarov President
2. Agasef Maḥammad Oglu Isgandarov General
Director
3. Aziz Gahramanov Chief Accountant
4. Azer Aliyev Planning & Export Manager
5. Samira Buluthanova Import & Export Manager
Total Employees : 120
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 220,000
Trade risk assessment:
Normal
NAME : BANK STANDARD KB QSC (FORMER MOST-BANK)
Branch : Azerbaijan Avenue 4
Town : Baku AZ1005
Telephone: (994 12) 497
1070 / 497 2094 / 498 0778
Fax : (994 12) 497 2094
The company also has an
account with :
Bank VTB (Azerbaijan) OJSC
96 Nizami Street
Baku AZ1010
Telephone: (994 12) 436 8100
Fax : (994 12) 436 8101
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
8,000,000 - 2011 - exact
: NEW MANAT 10,000,000
- 2012 - exact
: NEW MANAT 12,000,000
- 2013 – approx
: NEW MANAT 14,000,000
– 2014 – approx
Net Profit : but stated to be 10% of the
sales turnover
Total Value of Stock Held :
NEW MANAT 2,500,000 (as of October 2013)
Financial year ends 31
December.
Date Started : 14 February
2008
History : The subject
company was established in Azerbaijan on 14 February 2008 as a result of merger
of Tam MMC (operating since 1998) and Agasef Maḥammad Oglu Isgandarov Individual Entrepreneur.
Tax No. : VOEN 3100523491
Authorised Capital : NEW
MANAT 1,206,380 (increased from NEW MANAT 20 in 2009)
Paid up Capital : NEW MANAT
1,206,380 (increased from NEW MANAT 20 in 2009)
Mekhdud Mesuliatli
Camiyyeti (limited liability company) with thefollowing shareholders :
Percentage
1. Mahmud Maḥammad Oglu Isgandarov 50%
2. Agasef Maḥammad Oglu Isgandarov 50%
(brother of the above)
The Company is involved in
the following activities :
Manufacturers of
confectionery products such as chocolates, sweets, marmalades and biscuits
under “Bolluq” brand name.
NACE Codes: 1082 / 4636 /
4724
Imports from Turkey, Italy,
Ukraine, Poland, Argentina, Russia, India, China and Iran.
Exports to Kazakhstan,
Georgia, Tajikistan and Russia.
The Company has the
following facilities :
Owned 10 hectares plot of
land comprising administrative offices, a manufacturing unit and storage
facilities (2 hectares) located at the heading address as well as other manufacturing
unit and retail outlet located elsewhere in Baku.
Subject also has 4 retail
outlets located in Ganja, Sabirabad, Masally and Shake.
Subject has 160 delivery
vans for distribution purposes.
Subject plans to open
representative offices in Kazakhstan, Georgia and Russia by 2016.
Subject formerly used the
following contact details :
Telephone: (994 12) 442
9980 / 442 8312
REGISTERED OFFICE
Baku-Sumgait Highway 13th
km
Abseron District
Khirdalan AZ0100
The telephone number which
you provided : 994124429980 applies to subject’s former telephone number.
Please note that subject’s current telephone number is as per heading.
Interviewed: Azer Aliyev
(Planning & Export Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
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|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
SDA |
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.