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Report No. : |
339633 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIMAC AZ MMC |
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Registered Office : |
Ziya Bunyadov Avenue
2075 Mahalla, Narimanov District, Baku AZ1029 |
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Country : |
Azerbaijan |
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Financials (as on) : |
01.10.2012 |
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Date of Incorporation : |
01.07.2013 |
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Com. Reg. No.: |
1106-T19-4143 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers and
retailers of building materials and related instruments such as welding machines,
measuring devices, lifting devices, ladders and chemical products. |
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No. of Employees : |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
NEW MANAT 200,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
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Azerbaijan |
B2 |
B2 |
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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 |
AZERBAIJAN - ECONOMIC
OVERVIEW
Azerbaijan's high economic growth has been attributable to large
and growing oil and gas exports, but some non-export sectors also featured
double-digit growth, including construction, banking, and real estate. Oil
exports through the Baku-Tbilisi-Ceyhan Pipeline, the Baku-Novorossiysk, and
the Baku-Supsa pipelines remain the main economic driver, but efforts to boost
Azerbaijan's gas production are underway. The eventual completion of the
geopolitically important Southern Gas Corridor between Azerbaijan and Europe
will open up another, albeit, smaller source of revenue from gas exports.
Azerbaijan has made only limited progress on instituting market-based economic
reforms. Pervasive public and private sector corruption and structural economic
inefficiencies remain a drag on long-term growth, particularly in non-energy
sectors. Several other obstacles impede Azerbaijan's economic progress,
including the need for stepped up foreign investment in the non-energy sector
and the continuing conflict with Armenia over the Nagorno-Karabakh region.
Trade with Russia and the other former Soviet republics is declining in
importance, while trade is building with Turkey and the nations of Europe.
Long-term prospects depend on world oil prices, Azerbaijan's ability to
negotiate export routes for its growing gas production, and its ability to use
its energy wealth to promote growth and spur employment in non-energy sectors
of the economy.
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Source
: CIA |
UNIMAC AZ MMC (CORRECT)
UNIMAC
AZ LLC (REQUESTED)
Street
: Ziya
Bunyadov Avenue, Quarter 2075
Area
: Darnagul
Highway, Narimanov District
Town
: Baku AZ1108
Country
: Azerbaijan
Telephone : (994 12) 566 2922 / 566
1329 (Showroom)/ Mobile (994 50) 278 5890/ (994 50) 286 3422 (Showroom) / (994 50) 319 4968 (Elshad
Bayramov)
Fax : (994 12) 566 2922
E-Mail
:
e.bayramov@unimac.az
Website
: www.unimac.az
Trading Style
: Unimac
Extended Name
: Unimac AZ Mehdud Mesuliyyetli Camiyyeti
English Translation : Unimac AZ LLC
Name Position
1. Ilqar Bahadur
Oglu Ismayilov Managing Director
2. Elshad
Bayramov Financial Manager
Total Employees:
80
No complaints have
been heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for MEDIUM amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Azerbaijani importers.
Opinion on
maximum credit : NEW MANAT 200,000
Trade risk
assessment: Normal
NAME : YAPI KREDI BANK AZERBAIJAN QSC
Branch : 28 May Street 5
Town : Baku AZ1014
Telephone: (994
12) 497 7795
Fax : (994 12) 497 0276
The company also
has an account with :
Pasha Bank OJSC
Yusif Mammadaliyev
Street 15
Baku AZ1005
Telephone: (994
12) 496 5000
Fax : (994 12) 496 5010
Private companies in
Azerbaijan are not required to publish or disclose balance sheets. However, the
subject interviewed offered the following information :
Sales
Turnover : NEW MANAT
10,000,000 - 2014 - approx
: NEW MANAT
6,000,000 - 2015 – approx *
: NEW MANAT 10,000,000 - 2015 – projected
Net Profit :
but stated to be 33% of the sales turnover
* 8 months results
(January - August).
Financial year
ends 31 December.
The following
Balance sheets as at 1 October 2012 applies to Universal Makina MMC (latest
available):
31/12/2011 01/10/2012
(in
NEW MANAT)
ASSETS
Current
assets
Cash 20,000 35,000
Bank accounts -
-
Accounts
receivables 441,920 1,568,000
Inventory 4,775,000
5,189,320
Deferred tax - -
Non-current assets
Fixed assets 2,300,000 3,200,000
Less: Accumulated
depreciation (300,000) (400,000)
TOTAL ASSETS 7,236,920
9,592,320
EQUITY AND
LIABILITIES
Short-term
liabilities
Accounts
payables 650,000
850,000
Notes payable - -
Bank loans - -
Long-term
liabilities
Bank loans - -
EQUITY
Common stock 1,000,000
1,000,000
Retained
earnings 3,759,920
5,586,920
Net income –
current year 1,827,000
2,155,400
TOTAL EQUITY AND
LIABILITIES 7,236,920 9,592,320
PROFIT AND LOSS
ACCOUNT
31/12/2010 31/12/2011
(in NEW MANAT)
Gross Sales 13,433,420 17,084,400
Sales
discounts 1,374,911
2,318,695
Cost of Goods
Sold 9,384,050
11,296,718
Gross profit 2,674,460 3,468,987
Total
expenses 1,357,984
1,641,987
Operational
expenses 1,207,984
1,431,987
Depreciation
expenses
70,000 100,000
Interest
expenses
- -
Tax expenses 80,000
110,000
Net income 1,316,476 1,827,000
Financial year
ends 31 December.
Date Started : 1
July 2013
History : The
subject company was established in Azerbaijan on 1 July 2013.
Tax No.: VOEN
1502344801
Authorised Capital
: NEW MANAT 10
Paid-Up Capital :
NEW MANAT 10
Mehdud Mesuliyyetli Cemiyyeti (limited liability
company)
with the following sole shareholder:
Ilqar Bahadur Oglu
Ismayilov 100%
Affiliated companies
of the subject company :
Associate
Universal
Makina MMC
Ziya
Bunyadov Avenue, Quarter 2075
Darnagul
Highway, Narimanov District
Baku AZ1108
Telephone:
(994 12) 490 4209 / 496 4747 / 514 1946 / 490 3512 /
490 3515 /
(994 50) 250 2272 / (994 50) 592 4802 / (994 50) 287
0023 / (994
50) 230 3301
Fax : (994 12) 496 4747 / 490 3512
Managing
Director : Ilqar Bahadur Oglu Ismayilov
Employees:
113
Est.: 23
June 2006
C.R. No.:
1106-T19-4143
Tax No.:
VOEN 1000889131
Capital :
NEW MANAT 10,000
Shareholders:
- Ilqar Bahadur Oglu Ismayilov - 50%
(Azerbaijani national)
- Uzun Salih - 50%
(Registered
address: Mir Jalal 9A Micro District 11, Flat 39
Binagadi
District, Baku AZ1134)
The Company is
involved in the following activities :
Trading as importers,
wholesalers and retailers of building materials
and related instruments such as welding machines, measuring devices, lifting
devices, ladders and chemical products.
NACE Code : 4613 / 4669
Imports from
Poland, France, Germany and Turkey.
Subject does not
export, all sales are domestic.
Subject closely cooperates with :
1. Namig
Mirzoshurafovich Hakimov
R.
Ismayilov Street 9, Flat 1
Binagadi
District
Baku
Telephone:
(994 12) 514 1946 (Elshad Bayramov) / 490 4209 / 566
2922 ext.
108 (Elshad Bayramov) / 496 4747 / Mobile (994 50) 319
4968
(Elshad Bayramov) / (994 50) 250 2272 (Sevil Hasanova)
Fax : (994 12) 490 3512 / 496 4747
E-Mail : e.bayramov@universalgroup.az
Est.: 27
September 2006
Tax No.:
VOEN 1000957452
2. Kudret Aliyev
Ziya
Bunyadov Avenue, Quarter 2075
Darnagul
Highway, Narimanov District
Baku
3. Ismayilzade
Suleyman Sahib Oglu
Ziya Bunyadov
Avenue, Quarter 2075
Darnagul
Highway, Narimanov District
Baku
AZ1108
Telephone:
(994 12) 514 1946 (Elshad Bayramov) / 490 4209 / 566
2922 ext. 108 (Elshad Bayramov) / 496 4747 / Mobile (994 50)
319 4968 (Elshad Bayramov) / (994 50)
250 2272 (Sevil Hasanova) /
(994 50)
355 6023
Fax : (994 12) 490 3512 / 496 4747 / 514 1946
Est.: 2 March 2010
Tax No.: VOEN 1901011522
Capital : not applicable
Sole Shareholder: Ismayilzade
Suleyman Sahib Oglu
The Company has
the following facilities :
Rented office premises, a showroom styled “Unimac” and
storage facilities located at the heading address.
Ziya Bunyadov
Avenue 2075 Mahalla
Narimanov District
Baku AZ1029
You enquired on: UNIMAC
AZ LLC. Please note that this
name applies to an English translation of the subject’s name. Subject’s correct
registered name is as per heading.
Interviewed:
Elshad Bayramov (Financial Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.29 |
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|
1 |
Rs.101.89 |
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Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.