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Report No. : |
328184 |
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Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
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Name : |
REFTEK OOO |
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Registered Office : |
Massiv 8, Street No. 2, Building No. 4, Flat No. 10 Nor Nork District,
Yerevan 0056 |
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Country : |
Armenia |
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Date of Incorporation : |
12.02.2013 |
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Com. Reg. No.: |
282.110.754550 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
Importers and Distributors of Refrigeration Equipment. |
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No. of Employees : |
12 |
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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Maximum Credit Limits : |
DRAM 11,400,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Armenia |
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 |
ARMENIA - ECONOMIC
OVERVIEW
Under the old Soviet central planning system, Armenia
developed a modern industrial sector, supplying machine tools, textiles, and
other manufactured goods to sister republics, in exchange for raw materials and
energy. Armenia has since switched to small-scale agriculture and away from the
large agroindustrial complexes of the Soviet era. Armenia has only two open
trade borders - Iran and Georgia - because its borders with Azerbaijan and
Turkey have been closed since 1991 and 1993, respectively, as a result of
Armenia's ongoing conflict with Azerbaijan over the separatist Nagorno-Karabakh
region. Armenia's geographic isolation, a narrow export base, and pervasive
monopolies in important business sectors have made it particularly vulnerable
to the sharp deterioration in the global economy and the economic downturn in
Russia. Armenia is particularly dependent on Russian commercial and
governmental support and most key Armenian infrastructure is Russian-owned
and/or managed, especially in the energy sector, including electricity and
natural gas. Remittances from expatriates working in Russia are equivalent to
about 20% of GDP and partly offset the country's severe trade imbalance.
Armenia joined Russia in the Eurasian Economic Union upon the bloc’s launch in
January 2015, even though the ruble’s sharp depreciation in December 2014 led
to currency instability, inflation, and significant decrease of export from
Armenia to Russia. Armenia joined the WTO in January 2003. The government has
made some improvements in tax and customs administration in recent years, but
anti-corruption measures have been ineffective. Armenia will need to pursue
additional economic reforms and to strengthen the rule of law in order to
regain economic growth and improve economic competitiveness and employment
opportunities, especially given its economic isolation from two of its nearest
neighbors, Turkey and Azerbaijan.
|
Source
: CIA |
CO. NAME : Reftek OOO (Correct)
OOO
REFTEC (Requested)
Street : Massiv 8, Street No. 2, Building No. 4,
Flat No. 10
Area : Nor Nork District
Town : Yerevan 0056
Country : Armenia
Mobile : (374 98) 419 990 (Tiran Ghochikyan)
E-Mail
: reftec2@gmail.com
Extended Name : Reftek Obshchestvo
s Ogranichennoy Otvetstvennostyu
English Translation : Reftec LLC
Name Position
1. Ayk
Arowstamyan Managing Director
2. Tiran
Ghochikyan Deputy Managing Director/ Commercial
Director
Total Employees:
12
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 Armenian importers.
Opinion on
maximum credit : DRAM 11,400,000
Trade risk
assessment : Normal
NAME : ARMENIAN DEVELOPMENT BANK
Branch : Paronyan Street 21/1
Town : Yerevan
Telephone: (374
10) 591 515
Fax : (374 10) 591 462
Private companies
in Armenia are not required to publish or disclose balance sheets. However, the
subject interviewed offered the following information :
Sales
Turnover : US DLRS 1,200,000 - 2014 - exact
: US DLRS
400,000 - 2015 – exact *
Net Profit :
not given
* 3 months results
(March – June).
Financial year
ends 31 December.
Date Started : 12
February 2013
History : Subject
was established in Armenia on 12 February 2013.
C.R. No. : 282.110.754550
Tax No.: 00881593
Capital : not
given
Obshchestvo s Ogranichennoy Otvetstvennostyu
(Limited Liability Company) with the following shareholders :
Percentage
1. Ayk
Arowstamyan 50%
(Armenian national)
2. Tiran
Ghochikyan
50%
(Armenian national)
Affiliated company
of Reftek OOO :
Associate
Melkumyan Group
Armenia
The Company is involved
in the following activities :
Trading as
importers and distributors of refrigeration equipment.
Subject also
provides construction of supermarkets and stores services.
NACE Code : 4614
Imports from CIS
countries and Europe mainly from Italy, Poland and Turkey.
Subject does not
export, all sales are domestic.
The Company has the following facilities :
Owned premises comprising administrative offices and storage facilities
located at the heading address.
Massiv 8, Street
No. 2, Building No. 4, Flat No. 10
Nor Nork District
Yerevan 0056
You enquired on : “OOO REFTEC”. Please note the subject’s correct name
is as per heading.
The address given by you : “UL NOR NORK 87 2ST 4/10” is misspelt. Please
note that subject’s correct administrative office address is as per heading.
Interviewed : Tiran Ghochikyan (Deputy Managing Director / Commercial Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.