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Report No. : |
342118 |
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Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
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Name : |
BAKTASH INTER-SERVIS OOO |
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Registered Office : |
Sh. Rashidova Street
16 Tashkent 100017 |
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Country : |
Uzbekistan |
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Date of Incorporation : |
2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of paints, varnishes and
chemical products. |
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No. of Employee : |
16 |
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 Limit : |
Sum 42,000,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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Litigation : |
-- |
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) |
|
Uzbekistan |
B2 |
B2 |
|
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 |
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 |
BAKTASH INTER-SERVIS OOO (CORRECT)
LTD BAK TASH
INTER SERVIS (REQUESTED)
Street :
Sh. Rashidova Street 16
Town :
Tashkent 100017
Country :
Uzbekistan
Telephone : (998 71) 235 2299 / 235 6655 / Mobile (998
90) 806 9078
(Temur Mirpulatov)
Fax : (998 71) 235 2299
E-Mail
: sobsan-ngm@mail.ru
Extended
Name :
Baktash
Inter-Servis Obshchestvo s Ogranichennoy Otvetstvennostyu
English Translation : Baktash
Inter-Servis Ltd
Also known as
: Baktash
Inter-Servis MChJ
Name Position
1. Bakhtiyar
Komilovich Nazarov Managing Director
2. Temur
Mirpulatov General Manager at Sobsan-NGM IP
3. Yuliya
Aleksandrovna Chief Accountant
Total Employees : 16 (subject)
50 (subject and
affiliated company in Uzbekistan)
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 Uzbekistani importers.
Opinion on maximum
credit : SUM 42,000,000
Trade risk
assessment: Normal
NAME :
NATIONAL BANK FOR FOREIGN ECONOMIC ACTIVITY
Branch :
Amir Temur Street 101
Town :
Tashkent 100084
Telephone : (998 71) 233 6070
Fax :
(998 71) 235 9020
Private companies
in Uzbekistan are not required to publish or disclose balance sheets. However,
the subject interviewed offered the following information :
Sales
Turnover : SUM 2,200,000,000 - 2013 - exact
: SUM 2,000,000,000 - 2014 - exact
: SUM 2,100,000,000 - 2015 – exact *
: SUM 2,300,000,000 - 2015 - projected
Net Profit :
but stated to be 40% of the sales turnover
* 8 months results
(January – August).
Financial year
ends 31 December.
Date Started : 2005
History : The subject company
was established in Uzbekistan in 2005.
Tax No. : INN 204596002
Capital : not given
Obshchestvo s Ogranichennoy Otvetstvennostyu
(limited liability company) with the following sole shareholder :
Nazim Guzeyn Oglu Musazade 100%
(Azerbaijani national)
Affiliated
companies of the subject company :
Associates
1. Sobsan-NGM
Inostrannoe Predpriyatie
Tashkent
2. Remzi-S MMC
(Sobsan)
Azerbaijan
3. Caucas Trade
Ltd
Georgia
The Company is
involved in the following activities :
Trading as
importers and distributors of paints, varnishes and chemical products.
NACE Code: 4613
Imports from
Azerbaijan, Turkey and Poland.
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.
Sh. Rashidova
Street 16
Tashkent 100017
You enquired on: LTD
BAK TASH INTER SERVIS. Please note that the
correct name is as per heading.
Interviewed: Temur
Mirpulatov (General Manager at Sobsan-NGM IP).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
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|
1 |
Rs.99.53 |
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Euro |
1 |
Rs.73.79 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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 |
-- |
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.