|
Report No. : |
339839 |
|
Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
APEX-PLUS OOO |
|
|
|
|
Registered Office : |
Parkentskaya Street
7/2 (formerly Rechnaya Street 2), Khamzinskiy District, Tashkent |
|
|
|
|
Country : |
Uzbekistan |
|
|
|
|
Date of Incorporation : |
19.11.2004 |
|
|
|
|
Com. Reg. No.: |
000438-07 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading as
Importers and Wholesalers of Ceramic Tiles and Sanitary Ware. |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
SUM 10,000,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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) |
|
Uzbekistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UZBEKISTAN - ECONOMIC OVERVIEW
Uzbekistan is a dry, landlocked country; more than 60% of the population lives in densely populated rural communities. Export of natural gas, gold and cotton provides a significant share of foreign exchange earnings. Despite ongoing efforts to diversify crops, Uzbekistani agriculture remains largely centered around cotton; Uzbekistan is now the world's fifth largest cotton exporter and sixth largest producer.
The country is beginning to enforce a ban on the use of child labor in its cotton harvest and is trying to address international criticism for its previous use of this practice. Following independence in September 1991, the government sought to prop up its Soviet-style command economy with subsidies and tight controls on production and prices. A sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence. While aware of the need to improve the investment climate, the government continues to intervene in the business sector and has not addressed the impediments to foreign investment in the country. In 2003, the government accepted Article VIII obligations under the IMF, providing for full currency convertibility. However, strict currency controls and tightening of borders have lessened the effects of convertibility and have also led to some shortages that have further stifled economic activity. The Central Bank often delays or restricts convertibility, especially for consumer goods.
Uzbekistan's growth has been driven primarily by state-led investments and a favorable export environment. In the past Uzbekistani authorities have accused US and other foreign companies operating in Uzbekistan of violating Uzbekistani laws and have frozen and even seized their assets. At the same time, the Uzbekistani Government has actively courted several major US and international corporations, offering financing and tax advantages. Diminishing foreign investment and difficulties transporting goods across borders further challenge Uzbekistan’s economy, though it recently has intensified economic ties to Beijing. Tashkent began exporting natural gas to China and Chinese investments in the country have substantially increased.
|
Source
: CIA |
APEX-PLUS OOO (CORRECT)
OOO
APEX PLUS (REQUESTED)
Street :
Mustakillik Street 77, Flat 12
Area :
Mirzo-Ulugbek District
Town :
Tashkent
Country :
Uzbekistan
Telephone :
(988 71) 286 1739 / Mobiles (998 98) 313 5329 / (988 98)
365
9979 (Zarema Enverovna Bodurova)
Fax :
(998 71) 286 1739
E-mail :
info@apex-plus.com / buh@apex-plus.com
Website
: www.apex-plus.com
Extended Name
: Apex-Plus Obshchestvo s Ogranichennoy
Otvetstvennostyu
English Translation : Apex-Plus LLC
Also Known As : Apex-Plus MChJ
Name Position
1. Dmitriy
Anatolevich Salaev Managing Director
2. Zarema
Enverovna Bodurova Chief
Accountant
3. Timur
Makhmudzhonovich Khaitov Commerce
Director
Total Employees :
4
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
Uzbekistani importers.
Opinion on maximum
credit : SUM 10,000,000
Trade risk
assessment: Normal
NAME : KAPITAL BANK OJSCB
Branch : Sayilgokh Street 7
Town : Tashkent 100047
Telephone: (998
71) 200 1515
Fax : (998 71) 232 2607
Subject also has
an account with :
Asaka Bank JSCB
Nukus Street 67
Tashkent 100015
Telephone: (998
71) 200 5522
Fax : (998 71) 120 8691
Private companies
in Uzbekistan are not required to publish or disclose balance sheets. However,
the subject interviewed offered the following information :
Sales
Turnover : SUM 235,000,000 - 2012 -
exact
: SUM 607,000,000
- 2013 - exact
: SUM
200,000,000 - 2014 – approx
Net Profit :
SUM 470,000,000 - 2013 - exact
Value of current
contracts : SUM 2,000,000 (as of October 2014)
Total Value of
Stock Held : SUM 500,000,000 (as of October 2014)
Financial year
ends 31 December.
Date Started : 19
November 2004
History : Subject
was established in Uzbekistan on 19 November 2004 with the following shareholding
structure :
- E. Sh. Ablaeva
- A. M. Khaitov
- E.L. Krasovskiy.
In 2013, subject’s
shareholding structure changed to the present.
C.R. No. :
000438-07
Tax No. : INN
205277080
Statistics Code :
OKPO 19815667
Activity Code :
OKONKh 71123
Authorised Capital
: SUM 36,100,000
Paid-Up Capital :
SUM 36,100,000
Obshchestvo s Ogranichennoy Otvetstvennostyu
(Limited Liability Company) with the following shareholders :
Percentage
1. Artem Makhmudzhonovich Khaitov 90%
(Uzbekistani national)
2. Timur Makhmudzhonovich Khaitov 10%
(Uzbekistani national)
The Company is involved
in the following activities :
Trading as
importers and wholesalers of ceramic tiles and sanitary ware.
Subject is a
distributor for :
- Volgogradskiy
Keramicheskiy Zavod OAO;
- Nefrit-Keramika
OAO;
- Kontakt-Servis
ZAO;
- Zavod
Keramicheskikh Izdeliy OAO.
NACE Code : 4673
Imports from
Russia, Ukraine and China.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Rented premises comprising
administrative offices (12 sq. m.) located at the heading address as well as
additional office premises (8 sq. m.) located at Parkentskaya Street 7/2
Street, Khamzinskiy District and storage facilities (288 sq. m.) located at
Usta-Shirin Street 136, Almazar District.
Parkentskaya
Street 7/2 (formerly Rechnaya Street 2)
Khamzinskiy
District
Tashkent
You enquired on : “OOO
ALEX PLUS”. Please note that
subject's correct registered name is as per heading.
The address which you provided :
“PARKENTSKAJA 7 PROJEZD DOM 2, TASZKENT” is misspelt and applies to subject's
registered office address. Please note that subject's administrative office
address is as per heading.
Interviewed :
Zarema Enverovna Bodurova (Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
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 |
-- |
|
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.