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Report No. : |
318266 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Izzat Orudzhev Street 16, Khatai District, Baku AZ1000 |
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Country : |
Azerbaijan |
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Date of Incorporation : |
01.02.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as wholesalers and retailers of dried nuts, dried fruits, spices, confectionery and legumes products. |
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No. of Employees : |
100 |
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 – 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 |
CO. NAME : VUQMA-QIDA MAHSULLARI MMC (CORRECT)
VUGMA FOOD PRODUCTS LLC (REQUESTED)
Street : Izzat Orudzhev Street 16
Area : Khatai District
Town : Baku AZ1000
Country : Azerbaijan
Telephone: (994 12) 551 8800 / 561 0087 / 496 8113 (unobtainable) / Mobiles (994 55) 672 0599 / (994 50) 221 2882 (Maqsud Ibrahim Oglu Maharramov) (994 77) 277 7888 (Leila Eminova) / (994 77) 717 1116
Fax : (994 12) 551 8800 / 496 8032
E-Mail : contact@vugmafood.com
Website : www.vugmafood.com
Trading Style: Cerez Alemi
English Translation : Vuqma-Qida Mahsullari LLC
Also known as : Vuqma-Qida Mahsullari Mehdud Mesuliyyetli Cemiyyeti / Cham-Trade / Cham Agriculture / Vugma Food Products LLC
Name Position
1. Maqsud Ibrahim Oglu Maharramov Managing Director
2. Vugar Maharramov General Manager
(son of the above)
3. Leila Eminova Assistant General Manager
Total Employees : 100
Current trade experience of payments has not been traced.
Subject declined to give any financial, general background or antecedent information or to reveal the extent of the company's operations.
Information in this report was obtained from third party sources.
Opinion on maximum credit : We have insufficient basis on which to speak for unsecured credit and recommend international suppliers deal cash or pre-paid basis only.
Trade risk assessment: High
It is normal accepted practice for international suppliers to deal on secured terms with Azerbaijani importers.
Subject declined to name its bankers.
Private companies in Azerbaijan 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.
Date Started : 1 February 2007
History : The subject company was established in Azerbaijan on 1 February 2007, however its origins can be traced back to 2006.
Tax No.: VOEN 0400089901
Authorised Capital : NEW MANAT 10
Paid-Up Capital : NEW MANAT 10
Mehdud Mesuliyyetli Cemiyyeti (limited liability company) with the following sole shareholder:
Maqsud Ibrahim Oglu Maharramov 100%
(Azerbaijani national)
The Company is involved in the following activities :
Trading as wholesalers and retailers of dried nuts, dried fruits, spices, confectionery and legumes products.
NACE Codes: 4619 / 4636
Subject does not import nor export.
The Company has the following facilities :
Premises comprising administrative offices located at the heading address as well as 2 storage facilities located elsewhere in Baku (see 'Branch Offices' below).
Subject also has 15 retail outlets and 5 storage facilities located throughout Azerbaijan.
Until 2012 subject was located at :
Tabriz Street 6
Baku
Telephone: (994 12) 551 8800 ext. 105
Fax : (994 12) 551 8800 ext. 102
Acami Nakhchivani Street 70
Binaqadi District
Baku AZ1130
1. Tabriz Street 6
Baku
Telephone: (994 12) 551 8800 ext. 105
Fax : (994 12) 551 8800 ext. 102
2. Acami Nakhchivani Street 70
Binaqadi District
Baku AZ1130
Telephone: (994 12) 561 0087
Fax : (994 12) 562 0087
You enquired on: VUGMA FOOD PRODUCTS LLC. Please note that the correct name is as per heading.
The address provided by you: TABRIZ STREET 6 CHARAZ ALAMI BAKU applies to subject's branch office address. Please note that subject's administrative office address is as per heading.
Interviewed: Leila Eminova (Assistant General Manager).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.61 |
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1 |
Rs.96.56 |
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Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
VNT |
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.