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Report No. : |
353638 |
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Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SHELL INDUSTRIAL GROUP LLC |
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Registered Office : |
Argishti Street 7/6 Yerevan 0015 |
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Country : |
Armenia |
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Date of Incorporation : |
15.08.2014 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is
involved in the following activities : Registered
activity: General trading. [Note: We tried to confirm
/ obtain the detailed activity but the same is not available from any
sources] |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Armenia |
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 |
ARMENIA ECONOMIC OVERVIEW
Under the old Soviet central planning system, Armenia developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics, in exchange for raw materials and energy. Armenia has since switched to small-scale agriculture and away from the large agroindustrial complexes of the Soviet era. Armenia has only two open trade borders - Iran and Georgia - because its borders with Azerbaijan and Turkey have been closed since 1991 and 1993, respectively, as a result of Armenia's ongoing conflict with Azerbaijan over the separatist Nagorno-Karabakh region. Armenia's geographic isolation, a narrow export base, and pervasive monopolies in important business sectors have made it particularly vulnerable to the sharp deterioration in the global economy and the economic downturn in Russia. Armenia is particularly dependent on Russian commercial and governmental support and most key Armenian infrastructure is Russian-owned and/or managed, especially in the energy sector, including electricity and natural gas. Remittances from expatriates working in Russia are equivalent to about 20% of GDP and partly offset the country's severe trade imbalance. Armenia joined Russia in the Eurasian Economic Union upon the bloc's launch in January 2015, even though the ruble's sharp depreciation in December 2014 led to currency instability, inflation, and significant decrease of export from Armenia to Russia. Armenia joined the WTO in January 2003. The government has made some improvements in tax and customs administration in recent years, but anti-corruption measures have been ineffective. Armenia will need to pursue additional economic reforms and to strengthen the rule of law in order to regain economic growth and improve economic competitiveness and employment opportunities, especially given its economic isolation from two of its nearest neighbors, Turkey and Azerbaijan.
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Source
: CIA |
SHELL INDUSTRIAL GROUP LLC (CORRECT)
SHELL
INDUSTRIAL TRADING (REQUESTED)
Street : Argishti Street 7/6
Town :
Yerevan 0015
Country :
Armenia
Telephone : (374 10) 587 758
Name Position
Farshid Qazemi
Hoseyn Managing Director
Current
trade experience of payments has not been traced.
Subject
is a newly established company incorporated on 15 August 2014.
Our
sources could not contact the company and obtain a direct interview. The
telephone number which you provided : (374 10) 587 758 is reallocated to a residence. When contacted its
officials had no knowledge about the subject. No other telephone or fax numbers
are listed for the subject at the local telephone directory.
Information
in this report was obtained from third party sources.
Opinion
on maximum credit : As the company has recently been
established and has
no financial or
payment track record,
we recommend
dealing on fully
secured terms.
Trade
risk assessment: High
It
is normal accepted practice for international suppliers to deal on secured
terms with Armenian importers.
Details of subject's bankers could not be
learnt.
As the subject has only recently started
trading, relevant financial information is not available.
Date Started : 15 August 2014
History : Subject was
established in Armenia on 15 August 2014.
C.R. No. : 286.110.823906
Tax No. : 02630287
Capital : not given
Limited Liability Company with the following sole shareholder:
(Iranian national)
The Company is
involved in the following activities :
Registered
activity: General trading.
NACE Code : 4690
Details of subject’s imports and exports
could not be learnt.
The Company has
the following facilities :
Registered offices located at the heading
address.
Argishti Street
7/6
Yerevan 0015
You enquired on :
“SHELL INDUSTRIAL TRADING”. Please note that the correct name is as per
heading.
The address provided by you : “Unit 17, 3rd
Floor, No 3, Buzand St Yerevan Armenia” could not be verified. Please note that
subject's registered office address is as per heading.
Interviewed :
Third Party Source.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
AMD |
1 |
Rs.0.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ANK |
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 |
|
-- |
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.