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Report No. : |
356668 |
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Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Tabriz Street 72/74, Flat
No. 95, Narimanov District, Baku AZ1008 |
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Country : |
Azerbaijan |
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Date of Incorporation : |
02.08.2003 |
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Com. Reg. No.: |
041-658-041 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
·
Trading as importers, exporters, wholesalers and retailers of welding machines,
parquet and building materials. ·
Trading as importers and distributors of foodstuff, chocolate, canned
food, tissues. |
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No. of Employees : |
52 |
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 Limit : |
NEW MANAT 55,000 |
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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
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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.
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Source
: CIA |
SHAHNAR MMC
Street : Heydar Alyiev Avenue 106
Area : Nizami District
Town : Baku AZ1029
Country : Azerbaijan
Telephone: (994 12) 514
8887 / 514 8890 / 514 8884 / 514 8727 / Mobiles (994 50) 216 3288 / 222 5040 /
(994 50) 216 3288 (Nizami Kasimov)
Fax : (994 12) 566 4352
E-Mail : shahnar@shahnar.az / arif@shahnar.az
Website : www.shahnar.az
Extended Name : Shahnar Mehdud Mesuliyyetli
Cemiyyeti
English Translation
: Shahnar LLC
Name Position
1. Arzu Ali Oglu
Mahmudov Managing Director
2. Nizami
Kasimov Deputy Managing Director
3. Mamedaga
Shakhtakhtyrskiy Deputy Managing Director
4. Zheyran
Gulieva Chief Accountant
5. Arif Aliyev Marketing Manager
Total Employees : 52
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Azerbaijani importers.
Opinion on maximum
credit : NEW MANAT 55,000
Trade risk
assessment: Normal
NAME : ZAMINBANK ASC
Branch : Fizuli Street 59
Town : Baku AZ1014
Telephone: (994 12)
498 8105 / 498 8294
Fax : (994 12) 498 8105 / 498 8294
Acc. No. (IBAN):
AZ29ZAMI00001065081AZMC00001 (AZN)
Corr. Acc. No.
(IBAN): AZ88NABZ01350100000000048944
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 560,000 - 2005 - exact
: NEW MANAT 600,000 - 2006 - exact
: NEW MANAT 1,000,000 -
2007 - exact *
: NEW MANAT 1,300,000 -
2008 - exact
: NEW MANAT 1,600,000 -
2009 - exact
: NEW MANAT 1,600,000 -
2010 - exact
: NEW MANAT 2,060,000 -
2011 - exact
: NEW MANAT 2,100,000 -
2012 - exact
: NEW MANAT 2,300,000 - 2013 – exact
: NEW MANAT 2,728,000 -
2014 – exact
: NEW MANAT 2,300,000 -
2015 – projected
Net Profit : NEW MANAT 17,200 - 2006 - exact
: NEW MANAT 52,000 - 2007 - exact *
: NEW MANAT 67,000 - 2008 - exact
: NEW MANAT 60,000 - 2009 - exact
: NEW MANAT 70,000 - 2010 - exact
: NEW MANAT 80,000 - 2011 - exact
: NEW MANAT 95,000 - 2012 – exact
: NEW MANAT 400,000 – 2013 – exact
: NEW MANAT 400,000 – 2014 – exact
Total Value of Stock
Held : NEW MANAT 500,000 (as of October 2013)
* Sharp increase in
sales turnover and net profit in 2007 was
attributed to large number of contracts
awarded and to favorable
market conditions.
Financial year ends
31 December.
Date Started : 2
August 2003
History : Subject was established in Azerbaijan on 2 August 2003.
C.R. No. :
041-658-041
Tax No. : VOEN
0200019121
Authorised Capital :
NEW MANAT 500,000
Paid-Up Capital :
NEW MANAT 500,000
Mekhdud Mesuliatli
Camiyeti (Limited Liability Company) with the
following
shareholders :
Shareholder Percentage
1. Mamedaga
Shakhtakhtyrskiy 33.34%
2. Nizami
Kasimov 33.33%
3. Arzu Ali Oglu
Mahmudov 33.33%
The Company is
involved in the following activities :
Trading as
importers, exporters, wholesalers and retailers of welding machines, parquet
and building materials.
Trading as importers
and distributors of foodstuff, chocolate, canned food, tissues.
Principal suppliers
include:
- Cloetta Fazer;
- Majerowic;
- Solidanosc;
- Slowianka;
- Gonzales;
- Hanke Tissue;
- Askaynak;
- Lincoln Elektric;
- Klingspor;
- Kronospan;
- Kronofloring;
- Vivald;
- Plastivan.
NACE Codes : 4619 / 4613
/ 4649 / 4636
Imports from Poland,
Finland, Spain, Turkey, Thailand, China, Russia,
Hong Kong, Malaysia,
Georgia and Ukraine.
Re-exports to Iran,
Russia, Turkey and Georgia.
The Company has the
following facilities :
Rented premises comprising
administrative offices and storage facilities located at the heading address as
well as 3 retail outlets selling construction materials located elsewhere in
Baku (see “Branch Offices” section).
Until 1 April 2010,
subject operated from the following address :
Garabakh Street 22
(aka Qarabag Street)
Baku AZ1029
Telephone :
(994 12) 496 9861 / 514 8887
Fax : (994 12) 496 9864
Tabriz Street 72/74,
Flat No. 95
Narimanov District
Baku AZ1008
1. Ziya Buniyadov
Street 77
Narimanov District
Baku
Mobile: (994 51) 516 5869
2. Ziya Buniyadov
Street 64/68
Narimanov District
Baku
Telephone: (994 12) 563 6350 / Mobiles (994 50) 567 4744 /
(994
55) 646 3660
3. Babek Avenue 65 B
Nizami District
Baku
(500 sq. m.)
Subject previously
had a retail outlet located at:
Babek Avenue
Nizami District
Telephone: (994 12)
408 9892 / Mobile (994 55) 787 0306
Fax : (994 12) 408 9892
The postal code
given by you : “1029 BAKU” is incorrect. Please note that subject’s correct
postal code is as per heading.
Interviewed: Nizami
Kasimov (Deputy Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.20 |
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|
1 |
Rs.98.30 |
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Euro |
1 |
Rs.72.41 |
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AZN |
1 |
Rs.42.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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TRI |
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Report Prepared by
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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.