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Report No. : |
343937 |
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Report Date : |
13.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ASEMAN COUNTRY AIRLINE SERVICES COMPANY |
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Registered Office : |
Ekbatan, Karaj Special Rd, Tehran |
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Country : |
Iran |
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Date of Incorporation : |
21.07.1980 |
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Com. Reg. No.: |
41798 |
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Legal Form : |
Public Joint Stock Company |
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Line of Business : |
The subject is travellers air transport,
ticket sales, airport services , ground handling services, cargo services,
training center, catering, medical center, cabin services, engineering &
maintenance. |
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No. of Employees : |
300 |
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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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) |
|
Iran |
B1 |
B1 |
|
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 |
IRAN - ECONOMIC
OVERVIEW
Iran's economy is marked by statist policies,
inefficiencies, and reliance on oil and gas exports, but Iran also possesses significant
agricultural, industrial, and service sectors. The Iranian government directly
owns and operates hundreds of state-owned enterprises and indirectly controls
many companies affiliated with the country's security forces. Distortions -
including inflation, price controls, subsidies, and a banking system holding
billions of dollars of non-performing loans - weigh down the economy,
undermining the potential for private-sector-led growth. Private sector
activity includes small-scale workshops, farming, some manufacturing, and
services, in addition to medium-scale construction, cement production, mining,
and metalworking. Significant informal market activity flourishes and
corruption is widespread. Fiscal and monetary constraints, following the expansion
of international sanctions in 2012 on Iran's Central Bank and oil exports,
significantly reduced Iran's oil revenue, forced government spending cuts, and
sparked a sharp currency depreciation. Iran’s economy contracted for the first
time in two decades during both 2012 and 2013, and grew only slightly 2014.
Iran continues to suffer from high unemployment and underemployment. Lack of
job opportunities has prompted many educated Iranian youth to seek employment
overseas, resulting in a significant "brain drain." In June 2013, the
election of President Hasan RUHANI generated widespread public expectations of
economic improvement and greater international engagement. In connection with
ongoing international negotiations over Iran’s nuclear program the limited sanctions
relief for Iran provided under the Joint Plan of Action of November 2013,
helped to forestall the decline in the economy in 2014.
|
Source
: CIA |
Company Name: Aseman Country Airline Services Company
Company
Trade Name: Iran Aseman Airlines. Aseman Airlines
Address: Mehrabad International Airport, Tehran,
Iran
Postal Code: 13145-1476
P.O.BOX: -
Telephone: + 98 21 611025, 66027469, 61106575,
66076338, 61106555, 66076330
Fax: + 98 21
66076273, 66023710
Website: www.iaa.ir
E-mail: info@iaa.ir,
Public@iaa.ir,
Aminzadeh@iaa.ir
Current
Legal Form: Public
Joint Stock Company
Registration
Address: Ekbatan, Karaj Special Rd, Tehran, Iran
Start
Date:
21/07/1980
Registration
Number: 41798
Registration
Date: 21/07/1980
Registration
Town: Tehran
National
Code ID: 10100871720
Nominal
Capital: 550,000,000,000 Iranian Rials
Share
No: 550,000,000
Share
Value: 1,000 Iranian Rials
Former
Capital: 276,645,000,000
Parent Co:
Civil
Pension Fund Investment Company -99.9139%
Custom
Services and Public Warehouses Company- 0.000075%
Behour
Engineering Designing Company-0.000075%
Atieh
Saba Investment Company- 0.000075%
Local
Investors- 0.085875%
Mr.
Mehrdad Amiri- Executive
Mr.
Seyed Mehdi Sadeghi – Vice Chairman
Mr.
Amir Hayat Moghadam- Executive
Mr.
Hussein Alaei – Chairman & Managing Director
Mr.
Asghar Turkan- Executive
The
subject is travellers air transport, ticket sales, airport services , ground handling services,
cargo services, training center, catering, medical center, cabin services,
engineering & maintenance.
Local Reporters consider the investigated company to be Medium
in their field of concern
---
Company Employs: 300
Operates from: Owned, Offices, Warehouse
Location: Central Business
Area, Main Road
Branches:
Shiraz,
Iran
Mashhad,
Iran
It
doesn’t import.
It
doesn’t any export.
Territory: 100 % Nationality
Type
of Customer: Group
Companies, Retailers
Terms
of sales: letters of
credit
Vehicles:
Total number of vehicles: 21
Subsidaries:
Maskan Karmandan Aseman Airlines, Iran
Related Companies:
Saman Airline Services Company
Arman Industrial Paziraei Services Company
Arabeh Foroud Alborz Industries Co
Sepah Bank
Auditor:
Iran Auditing Organization
Subject's
payments reported to be: Non- Complaint
Name/Title: Mr. Ali
Ghoreiyshi – Manager, he confirmed it.
Local Reputation:
The company being investigated is considered by local reporters to be a Medium
Trade Risk and to be fair.
Owner/Shareholders Comments:
All
of owners involved in the running of the business
Age of Business: Old business
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.73 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.73.60 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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.