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Report No. : |
337553 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
ADO-G INSAAT TECHIZAT VE QURASDIRMA MMC |
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Registered Office : |
Ak. Hasan Aliyev
Street 125A, Narimanov District, Baku AZ1110 |
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Country : |
Azerbaijan |
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Date of Incorporation : |
02.02.2001 |
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Com. Reg. No.: |
M-1052 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
Importers and Wholesalers of Machinery and Equipment for Oil Sector. |
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No. of Employees : |
87 (Permanent) plus
up to 300 part-time staff according to work in hand 150 (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limits : |
NEW MANAT 300,000 |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
|
Source
: CIA |
ADO-G Insaat Techizat Ve Qurasdirma MMC (Correct)
ADO-G INSAAT
TECHIZAT QURASDIRMA LLC (Requested)
Street : Arif Heydarov Street 120-122
Area : Narimanov District
Town : Baku AZ1033
Country : Azerbaijan
Telephone: (994
12) 565 2215 / Mobile (994 50) 211 2377 (Rashad Musa Oglu Suleymanov) / (994
50) 310 1727 (Surkhay Tagiev)
Fax : (994 12) 565 2215 / 496 41 11
E-Mail : office@ado-g.com / surxay@ado-g.com
Website : www.ado-g.com
Extended Name
: ADO-G Insaat Techizat Ve
Qurasdirma Mehdud Mesuliyyetli Camiyyeti
English
Translation : ADO-G Construction Supply And Installation Ltd
Also known as :
ADO-G Construction Supply & Installation Ltd
Name Position
1. Ashdar Gadim
Oglu Kigaliev Executive Director
2. Rashad Musa
Oglu Suleymanov Director of International
Relations Department
3. Surkhay
Tagiev Finance Manager
4. Nushaba
Guseynova Chief Accountant
Total Employees
: 87
(permanent) plus up to 300 part-time staff according to work in hand
150 (group)
No complaints have
been heard regarding payments from local suppliers or banks.
Subject is a
member of ADO-G Group of Companies, which implement construction and industrial
projects in Azerbaijan.
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 300,000
PRINCIPAL BANKERS
NAME : INTERNATIONAL BANK OF AZERBAIJAN
Branch : Nizami Avenue 67
Town : Baku AZ1005
Telephone: (994 12)
498 1053 / 493 1842
Fax : (994 12) 493 4091 / 498 1158
The company also
has an account with the following banks:
1. Yapi Kredi Bank
Azerbaijan QSC (Fmly Kocbank Azerbaijan Jsb)
28 May Street 5
Baku AZ1014
Telephone: (994 12) 497 7795
Fax : (994 12) 497 0276
2. Kapital Bank
ASC
Fizuli Street 71
Baku AZ1014
Telephone: (994 12) 598 1295 / 493 6630
Fax
: (994 12) 493 7905
3. Azer Turk Bank
OJSC
Khodjali Avenue 55
Baku
Telephone: (994 12) 464 4212
Fax
: (994 12) 464 4212
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 5,990,000 - 2011 - exact
: NEW
MANAT 15,000,000 - 2012 – exact
: NEW MANAT 17,500,000 - 2013 – exact
: NE WMANAT 14,500,000 – 2014 – exact
: NEW MANAT 4,500,000 – 2015 – exact *
: NEW MANAT 12,000,000 – 2015 – projected **
Net Profit :
but stated to be 40% of the sales turnover
* 6 months results
(January - June).
** Projected
decrease in sales turnover in 2015 is due to unfavourable market conditions.
Financial year
ends 31 December.
The following
financial information applies to Azerbaijan Group:
Sales
Turnover : NEW MANAT 16,000,000 - 2014 - exact
: NEW MANAT 4,700,000 – 2015 – exact *
Net Profit :
but stated to be 40% of the sales turnover
* 6 months results
(January - June).
Financial year
ends 31 December.
The following
financial information applies to ADO-G Inshaat Senaye Ve Turizm Birge Muessisesi
(latest available):
Sales
Turnover : NEW MANAT 3,955,920 - 2010 - exact
Net Profit :
NEW MANAT 226,598 - 2010 - exact
Financial year
ends 31 December.
Date Started : 2
February 2001
History : The
subject company was established in Azerbaijan on 2 February 2001.
C.R. No.: M-1052
(issued by Ministry of Justice of Azerbaijan)
Tax No.: VOEN
1500487651
Authorised Capital
: NEW MANAT 80
Paid-Up Capital :
NEW MANAT 80
Mehdud Mesuliyyetli
Cemiyyeti (limited liability company) with the following sole shareholder:
Musa Samad Oglu
Suleymanov 100%
(Father of the
Rashad Musa Oglu Suleymanov)
Affiliated
companies of ADO-G Insaat Techizat ve Qurasdirma MMC :
Associates
Subject is a member of the ADO-G Group of
Companies, which includes the following companies:
1. ADO-G Motors
MMC
Ak. Hasan Aliyev Street 125A
Narimanov District
Baku AZ1110
Managing Director: Musa Samad Oglu
Suleymanov
Est.: 16 April 2009
Tax No.: VOEN 1501413681
Capital: NEW MANAT 100
Sole shareholder: Musa Samad Oglu Suleymanov
3. AD Demirel
Celik Knstruksiyon ve Makina Sanayi A.S.
Abdullah Cevdet Sokak 13
Cankaya
06680 Ankara
Turkey
Telephone: (90 262) 239 7553
Fax
: (90 262) 223 2202
4. Smart TV Plus
MMC
Arif Heydarov Street 26A
Narimanov District
Baku AZ1154
Managing Director: Nazim Qurban Oglu
Hadzhiyev
Est.: 28 July 2011
Tax No.: VOEN 1501870721
Capital: NEW MANAT 10
Sole
shareholder: Musa Samad Oglu Suleymanov
5. ADO-G Logistics
Ak. Hasan Aliyev Street 125A
Narimanov District
Baku AZ1110
Managing Director: Cumshud Elchin Oglu
Ibrahimov
Est.: 9 July 2015
Tax No.: VOEN 1502928871
Capital: NEW MANAT 50
6. ADO-G Germany
Germany
7. ADO-G Russia
Russia
8. ADO-G Georgia
Georgia
9. ADO-G
Kazakhstan
Kazakhstan
10.ADO-G Turkey
Turkey
Former Associates:
1. ADO-G Inshaat
Senaye Ve Turizm Birge Muessisesi
(ADO-G Construction Industry and Tourism JV)
Suleyman Vazirov Street 3
Baku AZ1025
Telephone: (994 12) 489 5055 / 489 5056 /
489 5057 / 437 9516 /
Mobile (994 50) 223 0353
Fax
: (994 12) 496 4111
Est.: 5 August 1998
Tax No.: VOEN 1500513361
Capital : US DLRS 20,000
Shareholders :
- Attila Dogan Insaat ve Tesisat Anonim
Sirketi - 51%
Turkey
- Garant-M MMC - 49%
Baku
(ceased trading in 2009)
2. AD Petroleum
& Mining
Turkey
Personal Profile
on Musa Samad oglu Suleymanov:
Musa Samad oglu
Suleymanov was born in Abulbayli village of Tovuz region, on September 14,
1956. He graduated from the secondary school named after Yusif Sadigov in 1973.
In 1975-1977, he served in the military among the armed forces of the former
USSR.
In 1977-80, he
worked as a laborer and driver in the wine factory and communication station of
Alimardanli village of Tovuz region. He was engaged in the conduct of private
business since 1980s and entrepreneurial activity since 1991. He founded and
served as a president of “SIMURG-MM” company from 1991 to 1998.
In 1996, he
founded the regional “Simurg-M” TV-Radio Company providing the coverage to the
western zone of Azerbaijan, including Ganja-Gazakh region. He became the
founder of “ADO-G Construction, Industry, and Tourism” Azerbaijan-Turkey Joint
Venture since 1998 and served as president of this company.
He has been
serving as the chairman of the Board of Directors of the Subsidiary Open Joint
Stock Company, “Machine Building Plant named after B. Sardarov” since 2004. He
is a graduate lawyer. In addition, he graduated from the technical program on
“Media Event” in the United States of America in line with the US Agency for
International Development (USAID).
In 2014, he was
awarded with “Tereggi” order (“Progress” order) in accordance with the decree
of Ilham Aliyev, the President of Azerbaijan Republic for his contribution to
the development of the machine-building industry in Azerbaijan.
Married and has 3
children.
The Company is
involved in the following activities :
Building
contractors engaged in construction of industrial objects, road, civil,
residential objects, onshore and offshore projects.
Trading as
importers and wholesalers of machinery and equipment for oil sector.
NACE Code: 4299
Imports from
Europe, Germany, Ukraine, Kazakhstan, Romania, Russia, Turkey, China and USA.
Exports to
Kazakhstan.
Exported
previously to Ukraine.
The Company has
the following facilities :
Owned 2-storey
building (1st floor – 775 sq. m. / 2nd floor – 1,550 sq.
m.) comprising administrative offices located at the heading address as well as
storage facilities located elsewhere in Baku.
Until 2015 subject
was located at :
Suleyman Vazirov
Street 3
Khatai District
Baku AZ1025
Telephone: (994
12) 437 9516 / 489 5055 / 436 4463 / 436 4143 / Mobile (994 50) 214 3769 / (994
55) 208 2280 / (994 50) 223 0333
Fax : (994 12) 436 2128 / 496 4111
Until June 2012,
subject was located at :
Teymur Aliyev
Street 67/61
Baku AZ1000
Ak. Hasan Aliyev
Street 125A
Narimanov District
Baku AZ1110
You enquired on:
ADO-G INSAAT TECHIZAT QURASDIRMA LLC. Please note that the correct name is as
per heading.
The address
provided by you: AK HASAN ALIYEV STREET 125A, AZ1110, BAKU AZERBAIJAN applies to subject's registered office address. Please note that
subject's administrative office address is as per heading.
Interviewed: Surkhay
Tagiev (Finance Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.71 |
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|
1 |
Rs.105.10 |
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Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
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.