MIRA INFORM REPORT

Report No. :	346877
Report Date :	27.10.2015

IDENTIFICATION DETAILS

Name :	KAVEH GLASS INDUSTRIAL GROUP

Registered Office :	No. 57, Lida St. North of Vanak Sq,Vali-e-Asr Ave Tehran

Country :	Iran

Date of Incorporation :	07.08.2003

Legal Form :	Private Joint Stock

Line of Business :	Manufacture of flat industrial glass and tableware

No. of Employees :	350

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
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 Details

Reference No: 346877

Company Name: Kaveh Glass Industrial Group

Company Trade Name: KGG, Kaveh Glass

Address: No. 57, Lida St. North of Vanak Sq,Vali-e-Asr Ave

Tehran, Iran

Postal Code: 1969743434

P.O.BOX: -

Telephone: +98 21 84400, 88878735, 88878740

Fax: +98 21 88772329, 88772329, 88878739, 88663516, 88879535

Website: www.kavehglass.com

E-mail: info@kavehglass.com

Registration & Legal Details

Current Legal Form: Private Joint Stock Company

Registration Address: No. 8, Lida Alley, Valiasr Ave

Tehran 1969743434, Iran

Start Date: 07/08/2003

Registration Number: 207257

Registration Date: 07/08/2003

Registration Town: Tehran

National Code ID: 10102488671

Capital

Nominal Capital: 1,000,000,000

Share No: 1,000

Share Value: 1,000,000

Shareholders

Shareholder Names

Mr. Ebrahim Asgarian Damavandi 40%

Mr. Mohammad Reza Asgarian Damavandi 30%

Mr. Masoud Asgarian Damavandi 10%

Mr. Mahmoud Asgarian Damavandi 10%

Mr. Mohammad Reza Karbalaei Ghaderi 10%

Principals

Name: Mr. Ebrahim Asgarian Damavandi

Position within the company: Chairman

Country of Birth: Iran

Nationality: Iranian