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Report No. : |
351223 |
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Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
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Name : |
IRRAWADDY GREEN TOWERS LTD. |
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Registered Office : |
No. 308 B, Ahlone Road, Dagaon Township,
Yangon |
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Country : |
Myanmar |
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Date of Incorporation : |
24.04.2014 |
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Legal Form : |
Branch of foreign company |
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Line of Business : |
·
The company is engaged in
offering shared passive infrastructure (tower sites) and associated power
solutions. ·
Services: Telecom Tower
Leasing, Distributed Power Services and Tower Operating Centre. |
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No. of Employee
: |
275 |
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 : |
Unknown |
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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) |
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Myanmar |
B1 |
B1 |
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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 |
Company
Name: Irrawaddy Green Towers Ltd.
Comments
about your request:
We were not able to reach the
person in charge that can provide us information.
We sent a questionnaire to the
email available requesting more information from the company but we did not
receive a reply.
ADDRESSES:
Main Address: No. 308, Ahlone Road
Zip code/City: Dagon Township, Yangon, Myanmar
Web site: http://igt.com.mm/
E-mail: corporate@irrawaddytowers.com
WIN Worldbox No.: MM0000078912
Profile
Established: 2014
Line of Business: Telecommunication, Energy
Industry Division: Services
Industry-code (NACE): 6190 Other telecommunications activities
3513
Distribution of electricity
Banks: unknown
Employees: 275
CNPJ: -
Board
of Directors:
Member of the direction Charbel Michel Abou-Jaoude
Member of the direction Arun Kapur
Member of the direction Georges Makhoul
Member of the direction Azmi Mikati
Member of the direction Jamal Ramadan
Member of the direction Maroun Semaan
Member of the direction Patrick Tangney
Chief Executive Officer Ayad Chammas
Chief Financial Officer Elie Haddad
Mr. Maroun Semaan is also
Chairman, and is a Shareholder and Partner in Alcazar Capital Limited at DIFC,
Dubai.
Mr. Azmi Mikati is also Chief
Executive Officer (CEO) of M1 Limited.
Mr. Charbel M.Abou-Jaoude, P.E.
is also Chief Executive Officer (CEO) of Alcazar Capital.
Mr. Patrick Tangney is also a
Partner at Alcazar capital Limited.
Mr. Jamal Ramadan is also the
executive director at M1 Group Serves as regional vice-president of Middle East
& North Africa region at MTN Group Ltd.
Mr. Georges Makhoul is also the
CEO of Constellation Holdings, a Dubai-based private investment firm.
Public information:
No legal information is
available.
State Register: 61FC/2014-2015
Legal form: Branch
of foreign company
Incorporation date: 24.04.2014
Balance sheet filing date: -
Tax Contributor Number (CNPJ): -
Legal status: active
Responsible Register: State Register of
Myanmar
Entry Deleted Name
active Irrawaddy Green Towers Ltd.
Entry Deleted Legal
domicile
active Bahan Township, Myanmar
Entry Deleted Address
active No. 308, Ahlone Road, Dagon Township,
Yangon, Myanmar/MM
Sanctions
List
The company is not listed on the
WorldCompliance Database.
Import and Export:
-
Payment history:
No payment history is available.
Owners/-s:
The company is registered has a
branch in Myanmar, however we have been unable to locate the main branch of the
subject.
Irrawaddy Green Towers was formed
through a joint venture between Golden Towers (backed by Alcazar Capital, a
private equity firm out of Dubai) and VIOM QUIPPO’s, India. Viom Networks
Limited is a joint venture between Tata Teleservices and Quippo (part of the
Srei Group).
Financial information:
Due to the legal form there is no
obligation to publish the accounts.
Exchange rate:
US$ 1,00 = MMK
1.280.90 - Official rate on 27.11.2015
Main Activities:
The company is engaged in
offering shared passive infrastructure (tower sites) and associated power
solutions.
Services: Telecom Tower Leasing,
Distributed Power Services and Tower Operating Centre.
Irrawaddy Green Towers tower
portfolio comprises of self-supporting Telecom Towers, Monopoles and Rapid
Deployment Towers (Cell-On-Wheel).
The company is currently rolling
out telecom towers for all the major operators including Telenor, Ooredoo and
MPT.
The company has more than 275
employees, including a mix of Myanmar citizens and expatriates. The company
promoters and board members are citizens of Canada, India, and the United
States.
Irrawaddy Green Towers sponsors
include a number of telecom and energy EPC investors and executives from
Alcazar Capital Limited, M1 Group, Barons Telelink, and founding senior
executives of SBA Communications.
Customers: Telenor, Ooredoo, MPT,
Sumitomo Corporation and KDDI.
Operations & branches:
At the address, No. 308, Ahlone
Road, Dagon Township, Yangon, we find the company's branch office.
Other contacts:
Investor Relations
Email:
investor@irrawaddytowers.com
Procurement and Vendors:
Email:
procurement@irrawaddytowers.com
Tender and Contracts:
Email: tender@irrawaddytowers.com
Staff:
275
Company's Background:
Irrawaddy Green Towers is one of
four new tower companies operating in Myanmar. They started out as Golden
Towers, a newly formed towerco with a small portfolio in Vietnam, and an
interest in Myanmar.
Golden Towers found themselves on
a shortlist of two towercos, together with VIOM QUIPPO, bidding for the award
of a contract for 1,500 towers for anchor tenant Telenor Myanmar. Telenor liked
Golden Tower's speciality in power, and liked the proven track record of VIOM
QUIPPO, so they joined forces in a 50-50 partnership to create a combined
towerco.
Golden Towers is backed by
Alcazar Capital, a private equity firm out of Dubai, while its partners VIOM
QUIPPO’s financing comes from their original investors, SREI Group.
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.68 |
|
Euro |
1 |
Rs.70.88 |
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MMK |
1 |
Rs.0.051 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TRU |
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 |
-- |
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.