|
Report No. : |
321397 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOOD FOOD GROUP SP OOO |
|
|
|
|
Registered Office : |
Karasarayskaya
Street 314, Olmazarskiy District, Tashkent 100034 |
|
|
|
|
Country : |
Uzbekistan
|
|
|
|
|
Date of Incorporation : |
27.07.2011 |
|
|
|
|
Legal Form : |
Joint Venture Limited Liability Company |
|
|
|
|
Line of Business : |
Producers of
Butter, Margarine, Mayonnaise and Condensed Milk. |
|
|
|
|
No. of Employees : |
97 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
SUM 200,000,000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
Uzbekistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UZBEKISTAN - ECONOMIC OVERVIEW
Uzbekistan is a dry, landlocked country; more than 60% of
the population lives in densely populated rural communities. Export of natural
gas, gold and cotton provides a significant share of foreign exchange earnings.
Despite ongoing efforts to diversify crops, Uzbekistani agriculture remains
largely centered around cotton; Uzbekistan is now the world's fifth largest
cotton exporter and sixth largest producer. The country is beginning to enforce
a ban on the use of child labor in its cotton harvest and is trying to address
international criticism for its previous use of this practice. Following
independence in September 1991, the government sought to prop up its
Soviet-style command economy with subsidies and tight controls on production
and prices. A sharp increase in the inequality of income distribution has hurt
the lower ranks of society since independence. While aware of the need to
improve the investment climate, the government continues to intervene in the
business sector and has not addressed the impediments to foreign investment in
the country. In 2003, the government accepted Article VIII obligations under
the IMF, providing for full currency convertibility. However, strict currency
controls and tightening of borders have lessened the effects of convertibility
and have also led to some shortages that have further stifled economic
activity. The Central Bank often delays or restricts convertibility, especially
for consumer goods. Uzbekistan's growth has been driven primarily by state-led
investments and a favorable export environment. In the past Uzbekistani
authorities have accused US and other foreign companies operating in Uzbekistan
of violating Uzbekistani laws and have frozen and even seized their assets. At
the same time, the Uzbekistani Government has actively courted several major US
and international corporations, offering financing and tax advantages.
Diminishing foreign investment and difficulties transporting goods across
borders further challenge Uzbekistan’s economy though it recently has
intensified economic ties to Beijing. Tashkent began exporting natural gas to
China and Chinese investments in the country have substantially increased.
|
Source
: CIA |
CO. NAME : GOOD
FOOD GROUP SP OOO (CORRECT)
GOOD
FOOD GROUP (REQUESTED)
Street : Karasarayskaya Street 314
Area : Olmazarskiy District
Town : Tashkent 100034
Country : Uzbekistan
Telephone : (998 71) 147 0200 / Mobile (998 90) 947
0464 (Gulmira Mukhtarova) / (998 90) 921 2425 (Reseda Burnasheva)
Fax : (998 71) 147 0200
E-Mail
: info@maselko.uz / reseda28@mail.ru
Website
: www.maselko.uz
Trading Style
: Maselko
Extended Name
: Good Food Group
Uzbeksko-Singapurskoe Sovmestnoe Predriyatie v forme Obshchestvo
s Ogranichennoy Otvetstvennostyu
English Translation : Good Food Group JV LLC
Also known as : Good Food Group QK MChJ
Name Position
1. Abdurakhmon
Ibragimovich Ismailov Managing Director
2. Flyura
Refatovna Akhmedova Chief Accountant
3. Reseda
Burnasheva Deputy Chief Accountant
4. Gulmira
Mukhtarova Procurement Manager
Total Employees :
97
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
Uzbekistani importers.
Opinion on maximum
credit: SUM 200,000,000
Trade risk
assessment: Normal
NAME : TRUSTBANK PJSEB
Branch : Navoi Street 7
Town : Tashkent 100011
Telephone: (998
71) 140 0088
Fax : (998 71) 244 7661
Subject also has an
account with :
Orient Finans Bank
PJSCB
Yakkachinor Street
7A
Tashkent
Telephone: (998
71) 140 7000
Fax : (998 71) 140 7000
Private companies
in Uzbekistan are not required to publish or disclose balance sheets. However,
the subject interviewed offered
the following
information :
Sales
Turnover : SUM 10,000,000,000 - 2014 - approx
Net Profit :
not given but stated to be profitable
Financial year
ends 31 December.
Date Started : 27
July 2011
History : The
subject company was established in Uzbekistan on 27 July 2011.
C.R. No. :
1204
Tax No.: INN 302066557
Statistics Code:
OKPO 23424567
Activity Code :
OKONKh 18121
Authorised Capital
: US DLRS 3,000,000
Paid-Up Capital :
US DLRS 3,000,000
Sovmestnoe
Predpriyatie Obshchestvo s Ogranichennoy Otvetstvennostyu (joint venture
limited liability company) with the following shareholders :
Shareholders
Percentage
1. Organic Plus
TTE LLC 75.5%
Singapore
2. Bakhtiyar
Gulandanovich Meribaev 24.5%
(Uzbekistani national)
The Company is
involved in the following activities :
Producers of
butter, margarine, mayonnaise and condensed milk.
NACE Code: 1042
Imports from
Europe, Bulgaria, Malaysia, Singapore and Russia.
Exports to
Kyrgyzstan, Tajikistan and Turkmenistan.
The Company has
the following facilities :
Owned premises
comprising administrative offices, a manufacturing unit and storage facilities
located at the heading address.
Karasarayskaya
Street 314
Olmazarskiy District
Tashkent 100034
You enquired on:
GOOD FOOD GROUP. Please note that the
correct registered name is as per heading.
Interviewed:
Reseda Burnasheva (Deputy Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.70 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.