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Report No. : |
344635 |
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Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
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Name : |
FANAVARAN PETROCHEMICAL COMPANY |
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|
|
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Registered Office : |
No.18, Paleiz Vani St, South Gandi St Tehran 1517643711 |
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Country : |
Iran |
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|
|
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Financials (as on) : |
30.06.2015 |
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|
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Date of Incorporation : |
27.04.1998 |
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Com. Reg. No.: |
139602 |
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Legal Form : |
Public Joint Stock Company |
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Line of Business : |
Manufacture of petrochemical
products, methanol, acetic acid and carbon monoxide. |
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|
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No. of Employees : |
820 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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: Fanavaran Petrochemical Company
Company Trade
Name: Fanaravan
Petrochemical Company
Address: Iran,
4th Floor,No 310,North Kargar Street,Tehran OR main
office: 18.7th Gandi, Gandi St
Tehran,
Iran
Postal Code: 1517643711
P.O.BOX: 15175658
Telephone: +98 21 88886870, 88886970, 88884109, 88882432, 88884037,
88884043,
8884109
Fax: + 98 21 8881400
Website: www.fnpcc.com
E-mail: info@fnpcc.com
Current Legal
Form: Public joint Stock Company
Registration
Address: No.18, Paleiz Vani St, South Gandi St
Tehran 1517643711, Iran
Start
Date: 27/04/1998
Registration
Number: 139602
Registration
Date: 27/04/1998
Registration
Town: Tehran
National Code
ID: 10101826594
Note:
The registered
name of company is Fanavaran Petrochemical Company.
Nominal
Capital: 950,000,000,000
Iranian Rials
Share No: 1,000
Share Value: 950,000,000
|
Shareholder Names |
|
Saba Taamein Investment Company 30% |
|
Taban Farda Petrochemical Group
20% |
|
Taamein Ejtimaei Investment
Company 15% |
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Taamei Petrochemical & Oil and Gas Investment Company 10% |
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State pension Fund Investment
Company 10% |
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Public
15% |
Name: Mr.
Jafar Jabar Zadeh Tabrizi
Position
within the company: Chairman
Country of
Birth: Iran
Nationality: Iranian
Can fluently
speak: Farsi- English
Name:
Mr. Hossein Ali Zahmatkish
Position
within the company: Vice
Chairman
Country of
Birth: Iran
Nationality: Iranian
Can fluently
speak: Farsi- English
Name:
Mr. Ali Nazar Pour
Position
within the company: Managing
Director
Country of
Birth: Iran
Nationality: Iranian
Can fluently
speak: Farsi- English
Name:
Mr. Mohammad Reza Mehr Afshan
Position
within the company: Member&
Commercial Assistance
Country of
Birth: Iran
Nationality: Iranian
Can fluently
speak: Farsi- English
Name:
Mr. Mahmoud Reza Jafari Harandi
Position
within the company: Member
Country of
Birth: Iran
Nationality: Iranian
Can fluently
speak: Farsi- English
Name: Mr.
Hamidian Far
Position
within the company: Sale
Manager
Country of
Birth: Iran
Nationality: Iranian
Can fluently
speak: Farsi-
English
Name:
Mrs. Zolfaghari
Position
within the company: Export Sale Manager
Country of
Birth: Iran
Nationality: Iranian
Can fluently
speak: Farsi- English
Manufacture of
petrochemical products, methanol, acetic acid and carbon monoxide
Local Reporters consider the investigated company to be
Large in their field of concern
--
Company Employs: 820
Operates from: Owned, Offices, Warehouses, Factory
Location: Central Business Area, Main Road
Branch:
Petrochemical Economic
Zone, Mahshahr, Khozestan 6357136314, Iran
Tel: + 98 6152123600, 65226-23600
Fax: + 98 615 2123008, 6152123028, 65226-23008
Premises: Owned,
Factory
Import %: 40%- Finished Goods
Import
term: Bank Transfer
Import
from: China, Italy, Japan
Export : Finished Goods
Export %: 30%
Export from:
Oceania, Africa, Far East, Middle East
Territory: 100 % Nationality
Type of
Customer: Group Companies, Retailers
Terms of
sales: letters of credit
Vehicles: Total number of vehicles:
30
Affiliates:
Petro Olfin Fanavaran Company- Iran
Ghadri Petrochemical Company- Iran
Novin Petrochemical Company- Iran
Farabi Petrochemical Company- Iran
Tejarat Bank
Branch: Mahshahr
Petrochemical Economic Zone, Mahshahr,
Khozestan, Iran
Mellat Bank
Branch: Haftom
Teir Sq, Tehran, Iran
Auditor: Iran Auditing Corporate
Solicitor: -
Subject's
payments reported to be: Non- Complaint
Name/Title: Mr.
Ali Nazar Pour- He confirmed it.
Local Reputation:
The Company being investigated is considered by local reporters to be a Normal
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.65.11 |
|
UK Pound |
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
|
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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 |
|
|
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 |
-- |
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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.