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Report No. : |
343923 |
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Report Date : |
07.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SHAPIN GARAY OOO |
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Registered Office : |
Karibjanian
Street 2, Yerevan 0050 |
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Country : |
Armenia |
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Date of Incorporation : |
26.02.2007 |
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Com. Reg. No.: |
269.110.03245 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
·
Operators
of a Beauty Center. ·
Trading
as Importers and Distributors of Cosmetics and Accessories for Hair Care. |
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No. of Employees : |
15 (Permanent) 20 (Casual) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
DRAM 3,000,000 |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Armenia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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 |
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 |
SHAPIN GARAY OOO (CORRECT)
SHAPIN GARAJ LTD (Requested)
Street :
Vardanants Street 7/60
Town :
Yerevan 0010
Country :
Armenia
Telephone : (374 10) 524 059 / Mobile (374 93) 708
811 / (374 91) 708 822 / (374 98) 618
811 (Artur Navasardyan)
Fax :
(374 10) 443 875
E-Mail
: info@beautyarmenia.am
Website
: www.beautyarmenia.com
Trading Style
: Beauty Armenia
Extended Name
: Shapin Garay Obshchestvo
s Ogranichennoy Otvetstvennostyu
English Translation : Shapin Garay LLC
Name Position
Artur
Navasardyan Managing Director
Total Employees : 15 (Permanent)
20 (Casual)
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 3,000,000
Trade risk
assessment: Normal
NAME : AMERIABANK CJSC
Branch : Grigor Lusavorich Street 9
Town : Yerevan 0015
Telephone: (374
10) 561 111
Fax : (374 10) 513 133
The company also has an account with the following banks:
1. Procredit Bank
CJSC
Teryan Street 105/1 Building, 7th Floor
Yerevan 0009
Telephone: (374 11) 202 020
Fax
: (374 11) 202 020
2. Converse Bank
CJSC
Vazgen Sargsyan Street 26/1
Yerevan 0010
Telephone: (374 10) 511 200
Fax
: (374 10) 511 200
Private companies
in Armenia are not required to publish or disclose balance sheets. However, the
subject interviewed offered the following information :
Sales
Turnover : EURO 150,000 - 2014 - approx
: EURO 168,000 – 2015 – projected
Net Profit :
but stated to be 30% of the sales turnover
Financial year
ends 31 December.
Date Started : 26
February 2007
History : The subject
company was established in Armenia on 26 February 2007.
C.R. No. :
269.110.03245
Tax No.: 02240582
Authorised Capital
: DRAM 50,000
Paid-Up Capital :
DRAM 50,000
Obshchestvo s Ogranichennoy Otvetstvennostyu (limited liability company)
with the following sole shareholder :
Artur Navasardyan 100%
Affiliated
companies of the subject company :
Associate
Art & Beauty
Ltd
Georgia
The Company is
involved in the following activities :
Operators of a
beauty center.
Trading as
importers and distributors of cosmetics and accessories for hair care.
NACE Code: 4645 /
9602
Imports from Italy
and Poland.
Subject does not
export, all sales are domestic.
Distributors for
Claudia Pazzini and Bell Cosmetics.
The Company has
the following facilities :
Owned premises
comprising administrative offices, a beauty center and storage facilities
located at the heading address.
Karibjanian Street
2
Yerevan 0050
You enquired on: SHAPIN
GARAJ LTD. Please note that the
correct name is as per heading.
The address provided
by you: TURKEYE IS BANKASI, 0050 EREWAN, ARMENIA is incorrect. Please note that
subject's administrative office address is as per heading.
Interviewed: Artur
Navasardyan (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.39 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.73.19 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.