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Report No. : |
354824 |
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Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MED IMPORT OOO |
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Registered Office : |
Chopon-Ota Street 39 Chilanzar District, Kvartal-6 Tashkent 100097 |
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Country : |
Uzbekistan |
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Date of Incorporation : |
March 2015 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading
as importers and distributors of pharmaceuticals. |
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No. of Employee : |
150 |
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) |
|
Uzbekistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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 |
UZBEKISTAN ECONOMIC OVERVIEW
Uzbekistan
is a dry, landlocked country; more than 60% of the population lives in densely populated
rural communities. Export of natural gas, gold and cotton provides a
significant share of foreign exchange earnings. Despite ongoing efforts to
diversify crops, Uzbekistani agriculture remains largely centered around
cotton; Uzbekistan is now the world's fifth largest cotton exporter and sixth
largest producer.
The
country is beginning to enforce a ban on the use of child labor in its cotton
harvest and is trying to address international criticism for its previous use
of this practice. 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. A sharp increase in the inequality of income
distribution has hurt the lower ranks of society since independence. While
aware of the need to improve the investment climate, the government continues
to intervene in the business sector and has not addressed the impediments to
foreign investment in the country. 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. Diminishing foreign
investment and difficulties transporting goods across borders further challenge
Uzbekistan’s economy, though it recently has intensified economic ties to
Beijing. Tashkent began exporting natural gas to China and Chinese investments
in the country have substantially increased.
|
Source
: CIA |
CO. NAME : MED IMPORT OOO (CORRECT)
MED IMPORT LLC (REQUESTED)
Street : Chopon-Ota Street 39
Area :
Chilanzar District, Kvartal-6
Town :
Tashkent 100097
Country :
Uzbekistan
Telephone
: (998 71) 278 0385 / 173 9520 / Mobile (998
93) 555 9444
(Murod Rassadovich Nasirov)
Fax : (998 71) 173 9520
E-Mail :
nasirov_murod@mail.ru
Extended Name : Med Import Obshchestvo s Ogranichennoy Otvetstvennostyu
English Translation : Med Import LLC
Also known as : Med Import MChJ
Name Position
1. Alisher
Bakhramovich Nizamov Managing Director
2. Murod
Rasodovich Nasirov Managing Director at Novbahor-
Savdo OOO
Total
Employees : 150
No
trade experience of payments is available.
Subject
is a newly established company incorporated in March 2015 and commenced
operations on 1 July 2015. Subject took over assets and operations from
Novbahor-Savdo OOO (Tax No.: INN 201200536), which ceased trading on 13 May
2015.
Opinion
on maximum credit : As the company has recently commenced
trading and has no
financial or payment
track record, we
recommend dealing on
fully secured terms
Trade
risk assessment : High (see above comments)
It is
normal accepted practice for international suppliers to deal on secured terms
with Uzbekistani importers.
NAME :
IPAK YULI BANK OJSIB
Branch :
A.Kadyry Street 2
Town :
Tashkent 100017
Telephone : (998 71) 140 6900
Fax : (998 71) 140 6900
As the
Subject has only recently commenced trading, relevant financial information is
not available. However, the subject interviewed offered the following
information :
Sales
Turnover : SUM 50,000,000,000 - 2015 – exact *
Net
Profit : not given but stated to be profitable
*
First 5 months of operations (July-November).
Financial
year ends 31 December.
The
following financial information applies to Novbahor-Savdo OOO:
Sales
Turnover : SUM 120,000,000,000 – 2014 – exact
Net
Profit : SUM
2,000,000,000 – 2014 – exact
Financial
year ends 31 December.
Date
Started : March 2015
History
: The subject company was established in Uzbekistan in March 2015 and commenced
operations on 1 July 2015. Subject took over assets and operations from
Novbahor-Savdo OOO (Tax No.: INN 201200536), which ceased trading on 13 May
2015.
Tax
No. : INN
303250415
Authorised
Capital : SUM 470,000,000
Paid-Up
Capital : SUM 470,000,000
Obshchestvo s Ogranichennoy Otvetstvennostyu
(limited liability company) with the following shareholders :
1. Abubakir Gulyam Kadyrovich Rashidov (majority)
2. Feruza Sayfutdinova Rashidova
(wife of
above)
3. Madina Abubakirovna Rashidova
* The exact shareholding percentage could not be
learnt.
Subject took over assets and operations of the
following company:
Novbahor-Savdo
OOO
Chopon-Ota
Street 39
Chilanzar
District, Kvartal-6
Tashkent
100097
Telephone : (998 71) 173 9520
Est.:
1996
Capital:
300,000,000
Shareholders:
-
Abubakir Gulyam Kadyrovich Rashidov
90%
- Feruza
Sayfutdinova Rashidova 10%
(ceased trading on 13 May 2015)
Affiliated
companies of the subject company :
Associate
Novbahor-Sanoat
OOO
Tashkent
The
Company is involved in the following activities :
Trading
as importers and distributors of pharmaceuticals.
NACE
Code: 4646
Imports
from Europe, Germany, France and Switzerland.
Subject
does not export, all sales are domestic.
The
Company has the following facilities :
Rented
premises comprising administrative offices and storage facilities located at
the heading address as well as 6 branch offices located elsewhere in Fergana,
Andizhan, Samarkand, Bukhara, Khorezm and Kashkadarya.
Chopon-Ota
Street 17/1
Chilanzar
District, Kvartal-6
Tashkent
100000
You
enquired on: MED IMPORT LLC. Please note that this name applies to an English
translation of the subject’s name. Subject’s correct registered name is as per
heading.
The
address provided by you: CHO PON-OTA STREET, CHILANZAR 6 17/1 is misspelt and
applies to subject's registered office address. Please note that subject's
administrative office address is as per heading.
Interviewed:
Murod Rassadovich Nasirov (Managing Director at
Novbahor-Savdo OOO).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
UZS |
1 |
Rs.0.024 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.