MIRA INFORM REPORT

 

 

Report No. :

356100

Report Date :

24.12.2015

 

IDENTIFICATION DETAILS

 

Name :

TECHINCO TECHNICAL INSPECTION AND CORROSION CONTROL COMPANY

 

 

Registered Office :

Unit 9& 11, No. 18, Kooh-E-Noor St, Motahari Ave Tehran

 

 

Country :

Iran

 

 

Date of Incorporation :

16.03.1994

 

 

Com. Reg. No.:

103796

 

 

Legal Form :

Public  Joint Stock Company

 

 

Line of Business :

Subject  is consulting, engineering  services, technical inspection , corrosion control, NDT, cathodic protection, materials and products inspection, industry technical inspection and corrosion control& installation, construction and commissioning of industrial designs and inspection of lifts and winches& engineering services: industrial, civil, electrical, mechanical, petroleum, marine, and design technical inspection services and corrosion control in oil, gas, and petrochemical industries technical inspection services .

 

 

No. of Employee :

185

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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

B1

B1

 

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:                        TECHINCO TECHNICAL INSPECTION AND CORROSION CONTROL COMPANY

 

Company Trade Name:              Techninco, Technical Inspection and Corrosion Control Company

 

Address:                                   Unit 9& 11, No. 18, Kooh-E-Noor St, Motahari Ave

                                                            Tehran, Iran 

Postal Code:                             1587684931                                   

P.O.BOX:                                             15745-876

 

Telephone:                                + 98 21 88741040, 88741027-9, 88529728

Fax:                                                      + 98 21 88771040, 88741040

Website:                                   www.techinco.net

E-mail:                                       info@techinco.net

 

 

Registration & Legal Details

                            

Current Legal Form:                               Public  Joint Stock Company

Registration Address:                                        No. 11, Kooh-E-Noor St, Motahari Ave

                                                            Tehran 1587684931, Iran   

Start Date:                                            16/03/1994

Registration Number:                              103796

Registration Date:                                             16/03/1994 

Registration Town:                                             Tehran

 National Code ID:                                             10101477062  

Note:

The registered name of company is Techinco Technical Inspection and Corrosion Control Company.                                        

                                               

 

Capital 

                                               

Nominal Capital: 100,000,000 Iranian Rials

Share No: 100

Share Value: 1,000,000

 

 

Shareholders

 

Shareholder Names

Gostaresh  Tejarat Hamoun Kish Company                30%

Petrochemical  Industries Investment Company        25%

Hamoun Kish Investment Company                           10%

Carbon Iran Company                                                10%

Dodeh Sanati  Pars Company                                    10%

Public                                                                          15%

 

 

Principals

 

Name:                                                   Mr. Khosrou Amir Arjmand

Position within the company:                 Chairman

Country of Birth:                                     Iran

Nationality:                                             Iranian

Can fluently speak:                                Farsi- English

 

Name:                                                  Mr. Ebrahim Zeiaei

Position within the company:                 Vice Chairman& Managing Director

Country of Birth:                                     Iran

Nationality:                                            Iranian

Can fluently speak:                                Farsi- English

 

Name:                                                   Mr. Alireza Sadegh Abadi

Position within the company:                  Member

Country of Birth:                                    Iran

Nationality:                                            Iranian

Can fluently speak:                                Farsi- English

 

Name:                                                  Mr. Ghorban Fayaz

Position within the company:                 Member

Country of Birth:                                     Iran

Nationality:                                             Iranian

Can fluently speak:                                 Farsi- English

 

Name:                                                    Mr. Sajad Meimanat Abadi

Position within the company:                 Member

Country of Birth:                                     Iran

Nationality:                                            Iranian

Can fluently speak:                                 Farsi- English

 

Name:                                                  Mr. Shahab Noori 

Position within the company:                 Manager

Country of Birth:                                     Iran

Nationality:                                            Iranian

Can fluently speak:                                 Farsi- English

 

Name:                                                      Mr. Alireza Adeli  

Position within the company:                    R&D Manager

Country of Birth:                                        Iran

Nationality:                                                Iranian

Can fluently speak:                                    Farsi- English

 

 

Company Activities

 

The  subject  is consulting, engineering  services, technical inspection , corrosion control, NDT, cathodic protection, materials and products inspection, industry technical inspection and corrosion control& installation, construction and commissioning of industrial designs and inspection of lifts and winches& engineering services: industrial, civil, electrical, mechanical, petroleum, marine, and design technical inspection services and corrosion control in oil, gas, and petrochemical industries technical inspection services .

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

 

 

Operations

 

----

 

Employees 

 

Company Employs: 185

 

 

HQ Premises

 

Operates from:                          Owned, Offices, Warehouses

 Location:                                 Central Business Area, Main Road

 

Branches:

Address:  3rd Floor, No.34, Venous Building, Ferdousi St, Moalem Blvdm Birjand 9717438761, Iran

Mr. Mohammad Ali Khalili

Address: Sajad Blvd, Mashhad 9185799358, Iran

Mr. Kavyani

Address: 2nd Floor, Narin Towner, Karaj, Iran

Mr. Rafei Zadeh

Address: Unit 4, 2nd Floor, Shahid  Sharif  Zadeh St, Ahwaz, Iran

Mr. Omid Shafiei

Address: Unit 11, 5 Floor, Moalem Blvd, Bandar Abbas, Iran

Mrs. Hoda Mansouri

Address: Unit 2nd, No.25, 93 St, Golsar St, Rasht 2593419865, Iran

Mr. Behzad Naseri

 

 

Imports

 

 Import %:                          45%- Finished Goods

Import term:                      Bank Transfer

Import from:                       China, Germany

 

 

Export

 

It doesn’t any export.

 

 

Trading & Selling

 

Territory:                               100 % Nationality

Type of Customer:                Group Companies, Retailers

Terms of sales:                      letters of credit

Vehicles:                                Total number of vehicles: 25

 

 

Related Companies

 

Subsidiaries:

Kimia Varzan Mehr Gharb Company  

Nigahdasht Karan Company

 

 

Banks

 

Jam Bank Mellat

Branch:Fajr, Tehran, Iran

 

Sina Bank

Branch: Shahid Beheshti

 

 

Financial Information

 

Auditor:  Avand Management  Services&  Auditing Institute

Solicitor: Kosha Manesh Financial  Services&  Auditing Institute

 

 

Payments

 

Subject's payments reported to be: Non- Complaint

           

 

interview & reporter comments       

 

Name/Title:                                Mr. Ebrahim Zeiaei, confirmed it.

 

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

Normal  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.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

Rial 

1

Rs.0.0022

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

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.