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Report No. : |
307190 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SAN SEVAR CO. |
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Registered Office : |
60mt Road ‑ zaza Street, Dh
Bldg., |
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Country : |
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Date of Incorporation : |
2012 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Proprietorship |
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Line of Business : |
Providing customized network,
telecommunication and security solutions to their customer’s needs. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Iraq |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
IRAQ ECONOMIC OVERVIEW
An improving security environment and foreign investment are helping to spur economic activity, particularly in the energy, construction, and retail sectors. Broader economic development, long-term fiscal health, and sustained improvements in the overall standard of living still depend on the central government passing major policy reforms. Iraq's largely state-run economy is dominated by the oil sector, which provides more than 90% of government revenue and 80% of foreign exchange earnings. Iraq in 2012 boosted oil exports to a 30-year high of 2.6 million barrels per day, a significant increase from Iraq's average of 2.2 million in 2011. Government revenues increased as global oil prices remained persistently high for much of 2012. Iraq's contracts with major oil companies have the potential to further expand oil exports and revenues, but Iraq will need to make significant upgrades to its oil processing, pipeline, and export infrastructure to enable these deals to reach their economic potential. The Iraqi Kurdistan Region's (IKR) autonomous Kurdistan Regional Government (KRG) passed its own oil law in 2007, and has directly signed about 50 contracts to develop IKR energy reserves. The federal government has disputed the legal authority of the KRG to conclude most of these contracts, some of which are also in areas with unresolved administrative boundaries in dispute between the federal and regional government. Iraq is making slow progress enacting laws and developing the institutions needed to implement economic policy, and political reforms are still needed to assuage investors' concerns regarding the uncertain business climate, which may have been harmed by the November 2012 standoff between Baghdad and Erbil and the removal of the Central Bank Governor in October 2012. The government of Iraq is eager to attract additional foreign direct investment, but it faces a number of obstacles including a tenuous political system and concerns about security and societal stability. Rampant corruption, outdated infrastructure, insufficient essential services, skilled labor shortages, and antiquated commercial laws stifle investment and continue to constrain growth of private, nonoil sectors. Iraq is considering a package of laws to establish a modern legal framework for the oil sector and a mechanism to equitably divide oil revenues within the nation, although these reforms are still under contentious and sporadic negotiation. Under the Iraqi Constitution, some competencies relevant to the overall investment climate are either shared by the federal government and the regions or are devolved entirely to the regions. Investment in the IKR operates within the framework of the Kurdistan Region Investment Law (Law 4 of 2006) and the Kurdistan Board of Investment, which is designed to provide incentives to help economic development in areas under the authority of the KRG. Inflation has remained under control since 2006 as security improved. However, Iraqi leaders remain hard pressed to translate macroeconomic gains into an improved standard of living for the Iraqi populace. Unemployment remains a problem throughout the country despite a bloated public sector. Encouraging private enterprise through deregulation would make it easier for Iraqi citizens and foreign investors to start new businesses. Rooting out corruption and implementing reforms - such as restructuring banks and developing the private sector - would be important steps in this direction.
|
Source
: CIA |
Registration
Number: N/A
Registration
Date: N/A
Legal
Form: PROPRIETORSHIP
Latest
Financials: N/A
Nominal
Capital: N/A
Issued
Capital: N/A
Turnover: N/A
Net
Profit: N/A
Net
Worth:
Investigation Number: 250183
Rime Reference: 0
Company Name: SAN SEVAR CO.
Country: IQ
Street Name: D
H BLD ARBAIL
City Code:
Comments: +964
7504 9609 53/ +964 7507 7218 74/ +98 9127 0045 06 (
info@sannet.com
; technical@sannet.co ; sales@sannet.com
WEB: www.sannet.co
Rime Reference: 10784525
Company Name: SAN SEVAR
CO.
Headquarter Address: 60mt Road ‑ zaza street, Dh Bldg., Erbil, Iraq
Telephone: +964750
4481844
+964750 4960953
+964750 7721874
E‑Mail: info@sannet.com
; technical@sannet.co ; sales@sannet.com
Web Site: www.sannet.co
Company
was originally started on 2012
Current Legal Form: PROPRIETORSHIP
Year/Date Company Established: 2012
Information on Shareholders is not available
/ applicable
Name: Mr Gilan Mohamed Ismaeel
Position within the company: General
Manager & Proprietor
Address: 964
750 7721874
98
91 27004506
Nationality: Iraqi
NACE Codes: 8020 Security systems service
activities
6190 Other
telecommunications activities
San Sevar Co has been at the forefront of providing customized network, telecommunication and security solutions to their customer’s needs.
Currently offer solutions to various industries in the field of network, wireless network, access control, security camera, telecommunication, VoIP, Pbx, Perimeter Intrusion Detection and provides after sales to their Clients in Iraq through a team of certified & trained technicians.
Represents & works closely with global market leaders in their respective fields to provide the best solutions available in the world today.
Many years of partnership‑based co‑operation with customers, consultants, official bodies and authorities are proof of the confidence in comprehensive know‑how and quality.
Today San plans, installs and maintains systems for high‑security areas, trade, industry, and administration as well as private and commercial premises and communication & IT development in Iraq.
Products:
Analog Camera
DVR
HDCVI (Camera)
HDCVI (DVR)
IP Camera
NVR
HQ
Premises Operates from: Office
Location: Central Business Area
Imports Imports Finished
Goods
Imports From: China, Taiwan
Importing Terms: Cash
AGENCIES:
Dahua Taiwan Secuirity systems
KDT Information
Technology
MikroTik Wireless
ISP systems
Exports
Export % and type
of product: Subject
does not export
Trading
& Selling
Territory: 100% Nationally
Type
of Customer: General Public,
Group Companies, Government Bodies
Subsidiaries
Affiliates
Information on
Related Companies is not available / applicable
Information on Bankers is not available /
applicable
Subject's payments reported to Unknown
Name/Title: Mr.
Gilan Mohamed Ismaeel General Manager
Comment: Subject
has confirmed the general details shown in the report.
Comment: Registration/
legal and financial information is not publicly available. Thus all data stated
in the report was obtained directly from the Subject Company and/ or other
publicly available information. Therefore it should be used as a point of
reference as it is not possible to verify such data with official sources.
In the interview conducted with Mr. Gilan
Mohamed Ismaeel, owner and general manager, he provided us with information
shown in report and asked us to send him a written request in order to provide
us with further details.
Local Reputation: The
company being investigated is considered by local reporters to be a Fair /
Normal Trade Risk.
General Conclusion: Subject not legally obliged to produce or
publish accounts
Owner/Shareholders Comments: All or most of the owners / shareholders
have an active participation in the running of the business.
Age of Business: The company has been established
for under 5 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
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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 |
|
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 |
|
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.