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Report No. : |
324924 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Heydar Aliyev Avenue 79/2, Narimanov District Baku AZ1033 |
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Country : |
Azerbaijan |
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Date of Incorporation : |
15.09.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and wholesalers of consumer goods, foodstuff and beverages. |
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No. of Employees : |
190 |
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 750,000 |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
BENKONS LLC
(REQUESTED)
Street : Islam Abishev Street 510
Area : Narimanov District
Town : Baku AZ1052
Country : Azerbaijan
Telephone: (994 12) 511 6816 / 566 2066 / Mobile (994 50) 255 4884 (Konstantin Alimpiev) / (994 55) 265 5599 / (994 50) 208 0670 (Elin Zalov)
Fax : (994 12) 511 6816
E-Mail : benkons@gmail.com / info@benkons.com
Website : www.benkons.com
English Translation : Benkons Ltd
Also known as : Benkons Mehdud Mesuliyyetli Cemiyyeti
Name Position
1. Hemid Farukh Oglu Hemidov Managing Director
2. Said Namazov Export Manager
3. Elin Zalov Commercial Director
Total Employees : 190
No complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for LARGE amounts,
although it is normal accepted practice for international suppliers to deal on secured terms with Azerbaijani importers.
Opinion on maximum credit : NEW MANAT 750,000
Trade risk assessment: Normal
NAME : KAPITAL BANK
Branch : Gadzhibekova Street 36
Town : Baku
Telephone: (994 12) 499 0505
Fax : (994 12) 499 0595
The company also has an account with :
OJSC AFB Bank (Azfinansbank)
Ismayil Bey Qutqashenli Street 112A
Baku AZ1073
Telephone: (994 12) 565 6565
Fax : (994 12) 565 6565
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 10,000,000 - 2010 - exact
: NEW MANAT 17,000,000 - 2011 - exact
: NEW MANAT 26,000,000 - 2012 – exact
: NEW MANAT 30,000,000 - 2013 – exact
: NEW MANAT 34,000,000 – 2014 – exact
Net Profit : but stated to be 10% of the sales turnover
Financial year ends 31 December.
Date Started : 15 September 2008
Tax No.: VOEN 1501291941
Authorized Capital : NEW MANAT 100
Paid-Up Capital : NEW MANAT 100
Mehdud Mesuliyyetli Cemiyyeti (limited liability company) with the following sole shareholder:
Hemid Farukh Oglu Hemidov 100%
(Azerbaijani national)
Affiliated company of Benkons MMC :
Associate
1. Benkons Insaat MMC
Ak. Aliyeva Street 114A
Baku AZ1052
Telephone: (994 12) 465 8324
Fax : (994 12) 465 8324
Est.: 17 October 2012
Tax No.: VOEN 1402359221
Capital : NEW MANAT 100
2. Benkons MMC - Latvia Branch
Eduarda Smilga Street 26-9
Riga LV-1002
Latvia
C.R. No.: 40103469706
3. Benkons Bosna d.o.o.
Filipa Visnjica br. 4
Doboj 74000
Bosnia and Herzegovina
The Company is involved in the following activities :
Trading as importers and wholesalers of consumer goods, foodstuff and beverages.
NACE Code : 4617
Imports from CIS countries, Russia, Germany, Turkey, Austria and Ukraine.
Exports to Russia.
The Company has the following facilities :
Owned premises comprising administrative offices and storage facilities located at the heading address.
Subject has 65 delivery vans for distribution purposes.
Heydar Aliyev Avenue 79/2
Narimanov District
Baku AZ1033
You enquired on : Benkons LLC. Please note that subject’s correct registered name is as per heading.
The address which you provided : 510 I Abishov Str 510 is misspelt. Please note that correct spelling is as per heading.
Interviewed: Elin Zalov (Commercial Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.94 |
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1 |
Rs.98.27 |
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Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
VNT |
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.