MIRA INFORM REPORT

Report No. :	351514
Report Date :	01.12.2015

IDENTIFICATION DETAILS

Name :	CHIMIARAN INDUSTRY COMPANY

Registered Office :	No. 17, Balal 5 Alley, Kamarbandi St, Seh Rah Rajaee Shahr Karaj

Country :	Iran

Date of Incorporation :	22.12.1998

Com. Reg. No.:	146418

Legal Form :	Private Joint Stock Company

Line of Business :	Manufacture of metal (zinc-calcium-magnesium-aluminum), all kinds of PVC heat stabilizers (pipes, profiles, connections) and types of waxes, polymers containing PVC stabilizer, different types of lubricants, plastics, rubber and resins, metal soaps.

No. of Employee :	185

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Iran

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

IRAN ECONOMIC OVERVIEW

Iran's economy is marked by statist policies, inefficiencies, and reliance on oil and gas exports, but Iran also possesses significant agricultural, industrial, and service sectors. The Iranian government directly owns and operates hundreds of state-owned enterprises and indirectly controls many companies affiliated with the country's security forces. Distortions - including inflation, price controls, subsidies, and a banking system holding billions of dollars of non-performing loans - weigh down the economy, undermining the potential for private-sector-led growth. Private sector activity includes small-scale workshops, farming, some manufacturing, and services, in addition to medium-scale construction, cement production, mining, and metalworking. Significant informal market activity flourishes and corruption is widespread. Fiscal and monetary constraints, following the expansion of international sanctions in 2012 on Iran's Central Bank and oil exports, significantly reduced Iran's oil revenue, forced government spending cuts, and sparked a sharp currency depreciation. Iran’s economy contracted for the first time in two decades during both 2012 and 2013, and grew only slightly 2014. Iran continues to suffer from high unemployment and underemployment. Lack of job opportunities has prompted many educated Iranian youth to seek employment overseas, resulting in a significant "brain drain." In June 2013, the election of President Hasan RUHANI generated widespread public expectations of economic improvement and greater international engagement. In connection with ongoing international negotiations over Iran’s nuclear program the limited sanctions relief for Iran provided under the Joint Plan of Action of November 2013, helped to forestall the decline in the economy in 2014.

Source : CIA

Company Details

Company Name: Chimiaran Industry Company

Company Trade Name: Chimiaran Company

Address: No. 17, Balal 5 Alley, Kamarbandi St, Seh Rah Rajaee Shahr

Karaj, Iran

Postal Code: 3133735549

P.O.BOX: 31995-138

Telephone: + 98 26 32732447, 26 32777015

Fax: + 98 26 32746256

Mobile No: + 98 912 1134771

Website: www.chimiaran.com

E-mail: info@chimiaran.com/ mghiasi@chimiaran.com

Registration & Legal Details

Current Legal Form: Private Joint Stock Company

Registration Address: 1st Floor, Behesht Alley, Mihmandoust St, Farmanieh Ave Tehran, Iran

Start Date: 22/12/1998

Registration Number: 146418

Registration Date: 22/12/1998

Registration Town: Tehran

National Code ID: 10101893253

Note:

The registered name of company is Chimiaran Industry Company.

Capital

Nominal Capital: 2,720,000,000 Iranian Rials

Share No: 2,720,000

Share Value: 1,000

Shareholders

Shareholder Names

Mr. Mohammad Taghi Ghiasi 50%

Mrs. Mahshid Ghiasi 40%

Mr. Farshid Ghiasi 10%

Principals

Name: Mr. Mohammad Taghi Ghiasi

Position within the company: Chairman

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Name: Mrs. Mahshid Ghiasi

Position within the company: Vice Chairman/ R&D Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Name: Mrs. Azamolsadat Safa

Position within the company: Managing Director (Out of shareholder)

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Name: Mr. Farshid Ghiasi

Position within the company: Member

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Name: Mrs. Sadaf Karbalaei

Position within the company: Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English mghiasi

Name: Mr. Sajad mghiasi

Position within the company: Manager

Country of Birth: Iran

Nationality: Iranian

Can fluently speak: Farsi- English

Company Activities

Manufacture of metal (zinc-calcium-magnesium-aluminum), all kinds of PVC heat stabilizers (pipes, profiles, connections) and types of waxes, polymers containing PVC stabilizer, different types of lubricants, plastics, rubber and resins, metal soaps.

Local Reporters consider the investigated company to be Medium in their field of concern

Operations

----

Employees

Company Employs :185

HQ Premises

Operates from: Owned, Office, Warehouse , Laboratory

Location: Central Business Area, Main Road

Branches:

No.10305, Kargar St, Attar St, Kamalshahr, Karaj, Iran

Tel: + 98 262 4385820, 261 4702595, 4710210, 4710220

Fax: + 98 261 4710222

Premises: Owned, Factory

Unit 24, No.16, Saba Building, Noor Sq, Satari St, Sadeghieh Ave

Tehran, Iran

Telephone: + 98 21 44146956

Fax: + 98 21 44172104

Premises: Rented, Office

Imports

Import %: 40%- Finished Goods

Import term: Bank Transfer

Import from: China, Germany

Export

It doesn’t export.

Trading & Selling

Territory: 100 % Nationality

Type of Customer: Group Companies, Retailers

Terms of sales: letters of credit

Vehicles: Total number of vehicles: 18

Related Companies

Vino Plastic Company

Mehr Soheila Non-Commercial Charity Institute

Banks

Pasargad Bank

Branch:-

Financial Information

Auditor : Attieh Hesab Argham Auditing Institute

Solicitor : Mr. Mojtaba Asadi

Payments

Subject's payments reported to be: Non- Complaint

interview & reporter comments

Name/Title: Mrs. Azamolsadat Safa, she confirmed.

Note:

Trade name of the subject is Chimiaran Company.

Local Reputation: The company being investigated is considered by local reporters to be a

Medium Trade Risk and to be fair.

Owner/Shareholders Comments:

All of owners involved in the running of the business

Age of Business: Old business

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.81
UK Pound	1	Rs.100.37
Euro	1	Rs.70.68
IRR	1	Rs.0.0022

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	TRI

Report Prepared by :	ANK

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%)

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