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Report No. : |
345297 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SIRJAN JAHAN STEEL COMPLEX |
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Registered Office : |
4 & 3rd Floor, No.2nd, 1ST Alley, Miremad St, Ostad Motahari Ave Tehran |
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Country : |
Iran |
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Date of Incorporation : |
09.02.2010 |
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Com. Reg. No.: |
3191 |
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Legal Form : |
Private Joint Stock Company |
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Line of Business : |
Manufacture of steel products & melting and steel ingot, iron ore concentrate with a grade of 68%, sponge iron and briquette. |
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No. of Employee : |
275 |
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 |
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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 |
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.
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Source
: CIA |
Company Name: Sirjan Jahan Steel Complex
Company Trade Name: SJSCO,
Sirjan Steel Company
Address: 4 & 3rd
Floor, No.2nd, 1ST Alley, Miremad St, Ostad Motahari
Ave Tehran, Iran
Postal Code: 1587915115
P.O.BOX:
-
Telephone: + 98 21 88544247-53
Fax: + 98 21 88544246
Website:
www.sjfco.ir
E-mail: info@sjsco.ir,
info@sisco.midhco.com
Current Legal Form:
Private Joint Stock Company
Registration Address:
Shiraz Road50Km, Sirjan 7618853681, Iran
Start Date: 09/02/2010
Registration Number:
3191
Registration Date:
09/02/2010
Registration Town: Sirjan
National Code ID: 10630161649
Nominal Capital : 2,000,000,000,000
Share No :
200,000,000
Share Value :
10,000
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Shareholder Names |
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Gol Gohar Sirjan Mineral & Industrial
Company 40% |
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Abadani Ostan Kerman& Development
Company 25% |
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Mining Industry Engineering &
Technical Services 15% |
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Gol Gohar Development & investment
Company 10% |
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Gohar Energy Sirjan Company 10% |
Name:
Mr. Mohammad Reza
Karami Shahroukhi
Position within the company:
Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name:
Mr. Majid Antiki Nezhad
Position within the company:
Vice Chairman& Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Ali Abbas Lou
Position within the company: Managing
Director& Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Farhad Farmani
Position within the company:
Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Hossein
Molla Hossein Agha
Position within the company:
Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Manufacture of steel
products& melting and steel ingot, iron ore concentrate with a grade of
68%, sponge iron and briquette.
Local Reporters consider the investigated company to be Large in their field of concern
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Company Employs: 275
Operates from:
Owned , Offices,
Warehouses, Factories
Location: Central Business Area, Main Road
Branches:
No - 4, Gol-E, narges Allet, 8th St, Bucharest
Tehran, Iran
Shiraz Road50Km, Sirjan 7618853681, Iran
Telephone: + 98 3441423625,
3432464984
Fax: + 98 3441423626, 3432464984
Factory
Import %: 45%- Finished
Goods
Import term: Bank Transfer
Import from: China, Germany
It doesn’t export.
Territory:
100 % Nationality
Type of Customer:
Group Companies, Retailers
Terms of sales:
letters of credit
Vehicles: Total number of vehicles:
27
Iranian Copper Industries pension fund (Subsidiary Company)
Middle East Mines Industries Development Holding
Company (MIDHCO) ( Parent Company)
Gol Gohar
Iraon stone Company
Abadani Ostan Kerman& Development Company
Mining Industry Engineering & Technical
Services Company
Gohar Energy Sirjan Company
Gol Gohar Development & investment Company
Sarchishmeh Copper
investment Company
Ateih Andishan Copper investment Company
Tejarat Bank
Branch:Markazi, Kerman, Iran
Auditor: Hoshyar Momaeiz Auditing
Institute
Solicitor: Mr. Amir Hossein Narimani
Subject's payments reported to be: Non- Complaint
Name/Title: Mr. Ali Abbas
Lou, 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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
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|
1 |
Rs.100.12 |
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Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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|
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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 |
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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.