MIRA INFORM REPORT

 

 

Report No. :

304997

Report Date :

29.01.2015

 

IDENTIFICATION DETAILS

 

Correct Name :

CSP PROTECTIA PLANTELOR SRL

 

 

Registered Office :

Boulevard Dacia 5, Office 128, Chisinau MD-2038

 

 

Country :

Moldova

 

 

Date of Incorporation :

05.11.1997

 

 

Legal Form :

Private Company

 

 

Line of Business :

Engaged in Importers, Wholesalers and Distributors of pesticides

 

 

No of Employees :

40

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Moldova

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Moldova ECONOMIC OVERVIEW

 

Despite recent progress, Moldova remains one of the poorest countries in Europe. With a moderate climate and good farmland, Moldova's economy relies heavily on its agriculture sector, featuring fruits, vegetables, wine, and tobacco. Moldova also depends on annual remittances of about $1.6 billion from the roughly one million Moldovans working in Europe, Russia, and other former Soviet Bloc countries. With few natural energy resources, Moldova imports almost all of its energy supplies from Russia and Ukraine. Moldova's dependence on Russian energy is underscored by a growing $5 billion debt to Russian natural gas supplier Gazprom, largely the result of unreimbursed natural gas consumption in the separatist Transnistria region. In August 2013, work began on a new pipeline between Moldova and Romania that may eventually break Russia's monopoly on Moldova's gas supplies. The government's goal of EU integration has resulted in some market-oriented progress. Moldova experienced better than expected economic growth in 2013 due to increased agriculture production, to economic policies adopted by the Moldovan government since 2009, and to the receipt of EU trade preferences. Moldova is poised to sign an Association Agreement and a Deep and Comprehensive Free Trade Agreement with the EU during fall 2014, connecting Moldovan products to the world’s largest market. Still, growth has been hampered by high prices for Russian natural gas, a Russian import ban on Moldovan wine, increased foreign scrutiny of Moldovan agricultural products, and by Moldova’s large external debt. Over the longer term, Moldova's economy remains vulnerable to political uncertainty, weak administrative capacity, vested bureaucratic interests, corruption, higher fuel prices, Russian pressure, and the illegal separatist regime in Moldova's Transnistria region.

 

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

 

CO. NAME :                  CSP Protectia Plantelor SRL (Correct)

                                    SRL CSP PROTECTIA PLANTELOR (Requested)

ADDRESS

Street                           Boulevard Dacia 5, Office 128

Town                            Chisinau MD-2038

Country                         Moldova

Telephone                     (373 22) 522 458 / 285 012 / Mobile (373 69) 142 062 (Vladimir Nicolaevici Degtear)

Fax                               (373 22) 522 458

Email                            ppd@ppd.md

Extended Name            : Centrul Stiintifico-Practic Protectia Plantelor S.R.L

English Translation        : Plant Protection Scientific & Production Centre Ltd

Also Known As             : Plant Protection Department Ltd

 

DIRECTORS/MANAGEMENT

 

SENIOR COMPANY PERSONNEL

Name                                         Position

Vitalie Alexandru Cebanu           Managing Director

Total Employees : 40

 

NEGATIVE INFORMATION

 

No negative information found.

 

SHARE & SHARE CAPITAL INFORMATION

 

Authorised & Paid up Capital : LEU 5,400

Societatea cu Raspundere Limitate (limited liability company) with the following shareholders :

                                               


                                                            Percentage

 

1. Vitalie Alexandru Cebanu                       50%     

2. Vladimir Nicolaevici Degtear                   50%   

 

PAYMENT INFORMATION

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for MEDIUM amounts, although it is normal accepted practice for international suppliers to deal on secured terms with Moldovan importers.

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated companies of CSP Protectia Plantelor SRL :

Subsidiary

PPD – Agro SRL

Coscodeni

 

 

FINANCIAL INFORMATION

 

Private companies in Moldova are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

Sales Turnover              : US DLRS 2,500,000 - 2003 - exact

                                    : US DLRS 2,500,000 - 2004 - exact

                                    : US DLRS 4,300,000 - 2005 - exact

                                    : US DLRS 4,200,000 - 2006 – exact

                                    : US DLRS 4,300,000 - 2007 – approx.

                                    : US DLRS 3,800,000 - 2008 - exact

                                    : US DLRS 4,000,000 - 2009 - exact

                                    : US DLRS 4,750,000 - 2010 – exact

                                    : not given         - 2011/2012

                                    : US DLRS 6,857,000 – 2013 – exact

                                    : US DLRS 7,705,000 – 2013 – exact    

 

Net Profit                      : US DLRS 1,000,000 - 2010 – exact

                                    : not given         - 2011/2012

                                    : US DLRS   741,000 – 2013 – exact    

                                    : US DLRS   486,000 – 2014 - exact        

Financial year ends 31 December.

 

 

ADDITIONAL INFORMATION

 

PRINCIPAL BANKERS

NAME               : BCA BANCA SOCIALA

Branch              : 61, Banulescu Bodoni str.

Town                : Chisinau MD-2006

Telephone         : (373 22) 225 169 / 221 494

Fax                   : (373 22) 222 415

 

The company also has an account with :

Moldova Agroindbank SA

Cosmonautilor Street 9

Chisinau MD-2006

Telephone: (373 22) 212 828

Fax      : (373 22) 228 058

 

LEGAL STATUS AND HISTORY

Date Started                 : 5 November 1997

History                          : The subject company was established in Moldova on 5 November 1997.

Fiscal Code                  : 1003600042037

VAT No.                        : 0305112 (issue date: 01/03/2006)

Legal Form                   Private Company

 

ACTIVITIES

The Company is involved in the following activities :

Trading as importers, wholesalers and distributors of pesticides.

Trade names: Nufarm GmbH&Co KG, BASF, BAYER, Syngenta, FMC,

Krasiteli.

NACE Code: 4690

Imports from Germany, Austria, USA, India, Israel, Switzerland and Belgium.

Subject does not export, all sales are domestic.

 

FACILITIES

The Company has the following facilities :

Rented office premises located at the heading address as well as owned 3-storey building (1,000 sq. m.) comprising administrative offices and storage facilities located at Petanya Street 2, outside Chisinau.

 

REGISTERED OFFICE

Boulevard Dacia 5, Office 128

Chisinau MD-2038

 

 

NOTES & COMMENTS

 

SPECIAL NOTE

You enquired on: SRL CSP PROTECTIA PLANTELOR. Please note that the correct name is as per heading.

Interviewed: Vladimir Nicolaevici Degtear (Shareholder).

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.93.18

Euro

1

Rs.69.82

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MNL

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.