MIRA INFORM REPORT

 

 

Report No. :

315379

Report Date :

08.04.2015

 

IDENTIFICATION DETAILS

 

Name :

TOQIMACHI BOBOTEKS OOO

 

 

Registered Office :

Kushbegi Street 6, Yakkasarayskiy District, Tashkent 100022

 

 

Country :

Uzbekistan

 

 

Date of Incorporation :

13.08.2008

 

 

Com. Reg. No.:

004029-11

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

·         Manufacturers of Textile Products.

·         Trading as Importers and Wholesalers of Consumables and Home Appliances.

 

 

No. of Employees :

40

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Maximum Credit Limit :

SUM 25,000,000

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Uzbekistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UZBEKISTAN - ECONOMIC OVERVIEW

 

Uzbekistan is a dry, landlocked country; 11% of the land is intensely cultivated, in irrigated river valleys. More than 60% of the population lives in densely populated rural communities. Export of hydrocarbons, primarily natural gas, provides a significant share of foreign exchange earnings. Other major export earners include gold and cotton. Despite ongoing efforts to diversify crops, Uzbekistani agriculture remains largely centered around cotton, although production has dropped by 35% since 1991. Uzbekistan is now the world's fifth largest cotton exporter and sixth largest producer. The country is addressing international criticism for the use of child labor in its cotton harvest. Following independence in September 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. While aware of the need to improve the investment climate, the government still sponsors measures that often increase, not decrease, its control over business decisions. A sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence. In 2003, the government accepted Article VIII obligations under the IMF, providing for full currency convertibility. However, strict currency controls and tightening of borders have lessened the effects of convertibility and have also led to some shortages that have further stifled economic activity. The Central Bank often delays or restricts convertibility, especially for consumer goods. Uzbekistan's growth has been driven primarily by state-led investments and a favorable export environment. In the past Uzbekistani authorities have accused US and other foreign companies operating in Uzbekistan of violating Uzbekistani laws and have frozen and even seized their assets. At the same time, the Uzbekistani Government has actively courted several major US and international corporations, offering financing and tax advantages. A major US automaker opened a powertrain manufacturing facility in Tashkent in November 2011, but there have been no sizable US investments since then. Diminishing foreign investment and difficulties transporting goods across borders further challenge the economy of Uzbekistan.

 

Source : CIA

 

COmpany NAME

 

TOQIMACHI BOBOTEKS OOO (CORRECT)

 

QIMACHI BOBOTEKS SP ZOO (Requested)

 

 

ADDRESS

 

Street     : Kushbegi Street 6

 

Area       : Yakkasarayskiy District

 

Town       : Tashkent 100022

Country    : Uzbekistan

 

Telephone  : (998 71) 253 1890 / 253 1709 / Mobile (998 90) 350 8183 / (998 90) 438 9966 (Nodirzhon Utkurovich Sabitov) / (998 90) 321 9545 (Makhir Utkurovich Sabitov) / (998 90) 937 3904 (Dilshod Kurbanov)

Fax        : (998 71) 253 1709

E-Mail     : boboteks@mail.ru

 

Extended Name : Toqimachi Boboteks Obshchestvo s Ogranichennoy Otvetstvennostyu

 

English Translation : Toqimachi Boboteks LLC

 

Also known as : Toqimachi Boboteks MChJ / To’qimachi Boboteks

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Nodirzhon Utkurovich Sabitov            Managing Director

 

2. Dildora Nurmukhamedova                  Chief Accountant 

 

3. Dilshod Kurbanov                                          Sales Manager   

 

Total Employees : 40

 

 

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, although it is normal accepted practice for international suppliers to deal on secured terms with Uzbekistani importers.

 

Opinion on maximum credit : SUM 25,000,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKER

 

NAME               : IPOTEKA BANK

 

Branch              : Pushkin Street 15

Town                            : Tashkent 100000

 

Telephone         : (998 71) 133 3034

Fax                   : (998 71) 133 6311

 

 

FINANCIAL INFORMATION

 

Private companies in Uzbekistan are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales Turnover   : SUM    500,000,000 - 2012 – approx

                         : SUM  1,000,000,000 – 2013 – approx

                        : SUM  1,300,000,000 – 2014 – approx

                        : SUM  2,000,000,000 – 2015 - projected  

 

Net Profit              : but stated to be 20% of the sales turnover

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 13 August 2008

 

History : The subject company was established in Uzbekistan on 13 August 2008 and commenced production in 2009.

 

C.R. No. : 004029-11

 

Tax No.: INN 300911076

 

Statistics Code : OKPO 22479701 

 

Activity Code : OKONKh 61110 / 17116 

 

Authorised Capital : SUM 175,000,000 

 

Paid-Up Capital : SUM 175,000,000

 

Obshchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following shareholders :

1. Makhir Utkurovich Sabitov                         50%

  (Uzbekistani national) 

 

2. Nodirzhon Utkurovich Sabitov                      50%

  (brother of the above) 

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Manufacturers of textile products.

 

Trading as importers and wholesalers of consumables and home appliances.

 

NACE Code: 1399

 

Imports from Turkey, China, Russia and Finland.

 

Exports to Russia.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented 7,000 sq. m. premises comprising administrative offices, a manufacturing unit and storage facilities located at the heading address.

 

 

REGISTERED OFFICE

 

Ak. Muzaffarov Street 31A

Yakkasarayskiy District

Tashkent 100095

 

SPECIAL NOTE

 

You enquired on: QIMACHI BOBOTEKS SP ZOO. Please note that subject’s correct registered name is as per heading.

 

Interviewed: Makhir Utkurovich Sabitov (Owner).                       

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.33

UK Pound

1

Rs.92.83

Euro

1

Rs.68.08

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.