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Report No. : |
323633 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
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Name : |
KARKARA KHO |
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Formerly Known As : |
KARKARA HJ |
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Registered Office : |
Geri Turkmenistan Atamyrat Niyazov Avenue 27 Berkararlyk District Ashgabat 744025 |
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Country : |
Turkmenistan |
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Date of Incorporation : |
16.06.2009 |
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Legal Form : |
Not Available |
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Line of Business : |
Trading as importers, wholesalers and distributors
of veterinary products. |
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No. of Employee : |
5 |
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 : |
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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Turkmenistan |
C2 |
C2 |
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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 |
TURKMENISTAN ECONOMIC OVERVIEW
Turkmenistan is largely a desert country with intensive agriculture in irrigated oases and significant natural gas and some oil resources. The two largest crops are cotton, most of which is produced for export, and wheat, which is domestic ally consumed. Although agriculture accounts for roughly 14% of GDP, it continues to employ nearly half of the country's workforce. Turkmenistan's authoritarian regime has taken a cautious approach to economic reform, hoping to use gas and cotton export revenues to sustain its inefficient and highly corrupt economy. The government introduced a privatization plan in 2012, but the implementation of this initiative has been slow and privatization goals remain limited. From 1998-2005, Turkmenistan suffered from the continued lack of adequate export routes for natural gas and from obligations on extensive short-term external debt. At the same time, however, total exports rose by an average of roughly 15% per year from 2003-08, largely because of higher international oil and gas prices. Additional pipelines to China, that began operation in early 2010, and increased pipeline capacity to Iran, have expanded Turkmenistan's export routes for its gas, although two other export initiatives—a trans-Caspian pipeline that would carry gas to Europe and the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline—have faltered. Overall prospects in the near future are discouraging because of endemic corruption, a poor educational system, government misuse of oil and gas revenues, and Ashgabat's reluctance to adopt market-oriented reforms. The majority of Turkmenistan's economic statistics are state secrets. The present government established a State Agency for Statistics, but GDP numbers and other publicized figures are subject to wide margins of error. In particular, the rate of GDP growth is uncertain. Since his election, President BERDIMUHAMEDOW unified the country's dual currency exchange rate, ordered the redenomination of the manat, reduced state subsidies for gasoline and natural gas, and initiated development of a special tourism zone on the Caspian Sea. Although foreign investment is encouraged, and some improvements in macroeconomic policy have been made, numerous bureaucratic obstacles impede international business activity.
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Source
: CIA |
CO. NAME : KARKARA KHO (CORRECT)
Street
: Geri Turkmenistan Atamyrat Niyazov Avenue
27
Area
: Berkararlyk District
Town
: Ashgabat 744025
Country
: Turkmenistan
Telephone : (993 12) 952 014 / 362 520 / Mobile (993
65) 814 327 (Ata Zhumaevich Nepesov)
Fax
: (993 12) 952 014
E-Mail : ata_nepesov@mail.ru
Extended Name : Karkara
Khozyaystvennoye Obschestvo
English Translation :
Karkara Economic Society
Also known as :
Karkara HJ
Date Started :
16 June 2009
History :
The subject company was established in Turkmenistan on 16 June 2009.
Tax No. :
INN 102211002793
SENIOR COMPANY
PERSONNEL
Name Position
1. Ata Zhumaevich Nepesov Managing
Director
2. Roza Abdulaevna Knerik Chief
Accountant
Total Employees : 5
No negative information given
Authorised Capital : MANAT 2,000
Paid-Up Capital : MANAT 2,000
Khozyaystvennoye Obschestvo (economic
society) with the following shareholders :
Percentage
1. Ata Zhumaevich Nepesov 70%
(Turkmenistani national)
2. Gulshen Nepesova 30%
(Turkmenistani national)
PAYMENTS
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 Turkmenistani importers.
Opinion on maximum credit
: MANAT 74,000
Trade risk assessment: Normal
Na
Private companies in Turkmenistan are not
required to publish or disclose balance sheets. However, the subject
interviewed offered the following information :
Sales Turnover :
MANAT 3,500,000 - 2014 - approx
Net Profit :
not given but stated to be profitable
Financial year ends 31 December.
Na
PRINCIPAL BANKER
NAME
: SENAGAT JSC
Branch
: Saparmurat
Turkmenbashi Avenue 42
Town
: Ashgabat 744000
Telephone :
(993 12) 453 133
Fax
: (993 12) 453
133
The Company is involved in the following
activities :
Trading as importers, wholesalers and
distributors of veterinary products.
NACE Code: 7500
Imports from Russia, India and Israel.
Subject does not export, all sales are
domestic.
Distributors for Agrovetzashita (Russia).
The Company has the following facilities :
Rented premises comprising administrative offices and storage facilities
located at the heading address.
Geri Turkmenistan Atamyrat Niyazov Avenue 27
Berkararlyk District
Ashgabat 744025
On 1 January 2009 Turkmenistan has
redenominated its national currency. 1 redenominated Manat equals 5,000 old
Manat, while 1 US dollar equals 2 Manat and 85 Tenge.
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You enquired on: HJ Karkara. Please
note that subject is also known by this name. Subject's correct registered name
is as per heading.
Interviewed: Ata Zhumaevich Nepesov (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.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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KAR |
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Report Prepared
by : |
ANK |
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.