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Report No. : |
340636 |
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Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AL VORIS AVTO TRADE OOO |
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Registered Office : |
Massiv Chilanzar,
Kvartal-10, Building 35, Flat No.38 /39
Chilanzarskiy District Tashkent 100123 |
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Country : |
Uzbekistan |
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Financials (as on) : |
30.06.2015 |
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Date of Incorporation : |
03.03.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
The Company is
involved in the following activities :
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No. of Employees : |
8 |
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 Limits : |
Sum 15,000,000 |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Uzbekistan
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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 |
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.
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Source
: CIA |
AL VORIS
AVTO TRADE OOO (Correct)
OOO AL VORIS AVTO
TRADE (Requested)
Street : Massiv Chilanzar, Kvartal-10, Building 35, Flat No.38 /39
Area : Chilanzarskiy District
Town : Tashkent 100123
Country : Uzbekistan
Telephone : (998 71) 215 7711 / 276 9919 / Mobile (998 90) 805 7429
/ (7 701) 982 8573 (Alisher Musakhodzhaev) / (998 90)
187 3333
Fax : (998 71) 276 9919
E-Mail : almus@inbox.ru
Extended Name : Al Voris Avto Trade Obshchestvo s Ogranichennoy Otvetstvennostyu
English Translation : Al Voris Avto Trade LLC
Also known as : Al Voris Avto Trade MChJ
Name Position
1. Furkat Gayratov Managing Director
2. Alisher Musakhodzhaev Purchasing Specialist
Total Employees: 8
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 15,000,000
Trade risk assessment: Normal
NAME : KAPITAL BANK OJSC
Branch : Chorsu Branch Office, Samarkand Darbaza Street 13
Town : Tashkent 100017
Telephone: (998 71) 249 5414
Fax : (998 71) 249 5414
Balance Sheets as at 30 June 2015 showed :
31/12/2014 30/06/2015
(in thousands of SUM)
ASSETS
Long-Term Assets
Fixed assets
Including:
Initial value 788,545.50 788,545.50
Depreciation (79,672.70) (95,414)
Net value 708,872.80 693,131.50
Total Long-Term Assets 708,872.80 693,131.50
Current Assets
Inventories 305,508.70 273,729
Goods 305,508.70 273,729
Debtors 48,734.40 161,898
Trade receivables 0.50 38,290
Advances to suppliers 13,779.30 88,654
Tax advances 754.60 34
Debts of founders 30,000 30,000
Other receivables 4,200 4,920
Cash & cash equivalents 423.60 27,850
Cash in bank accountant 423.60 27,850
Short-term investments 2,000 2,000
Total Current Assets 356,666.70 465,477
TOTAL ASSETS 1,065,539.50 1,158,608.50
LIABILITIES & EQUITY
Charter capital 32,900 102,470
Reserve capital 27,336.20 27,336.20
Undistributed profit (retained loss) 76,300.40 86,146
Total Equity 136,536.60 215,952.20
LIABILITIES
Long-term liabilities 535,739.20 546,842
Including:
Long-term bank credits 535,739.20 546,842
Current liabilities 393,263.70 395,814.30
Including:
Current payables 392,763.70 395,314.30
Trade payables 387,451.40 387,451.40
Advances received 4 4,004
Tax liabilities 657 1,900
Insurance liabilities 395.40 221.80
Liabilities to governmental funds 8.60 7.60
Settlements with employees 3,170.80 653
Short-term borrowings 500 500
Other liabilities 1,076.50 1,076.50
Total Liabilities 9,602,611 6,021,154
TOTAL LIABILITIES & EQUITY 1,065,539.50 1,158,608.50
INCOME STATEMENT
30/09/2013 31/12/2014
(in thousands of SUM)
Sales revenue 470,636.80 787,193.70
Cost of sales (300,490.40) (537,554.70)
Gross profit 170,146.40 249,639
Expenses for the period (129,893) (84.370.60)
Administrative expenses (129,893) (72,045.70)
Other expenses - (12,324.90)
Other income from operating
Activity - 13,140
Income (loss) from operating
Activity 40,253.40 178,408.40
Expenses from financial
Activity (11,156.90) (129,202.60)
Interest expenses - (129,202.60)
Loss from currency exchange
Rate differences (156.90) -
Other expenses from financial
Activity (11,000) -
Income (loss) from general
Activity 29,096.50 49,205.80
Income (loss) before taxation 29,096.50 49,205.80
Income tax (23,531.80) (40,016.70)
Net profit 5,564.70 9,189.10
Financial year ends 31 December.
Historical Profit and Loss Account
Sales Turnover : SUM 470,636,800 – 2013 – exact
: SUM 787,193,700 - 2014 – exact
: SUM 172,386,000 – 2015 – exact *
: SUM 1,200,000,000 - 2015 – projected
Net Profit : SUM 5,564,700 – 2013 – exact
: SUM 9,189,100 – 2014 – exact
: SUM 9,846,000 – 2015 – exact *
Value of current contracts
: SUM 1,250,000,000 (as of 1 September 2015)
Total Value of
Stock Held : SUM 700,000,000 (as of 1 September 2015)
* 6 months results (January - June).
Financial year ends 31 December.
Date Started : 3 March 2010
History : The subject company was
established in Uzbekistan on 3 March 2010.
Tax No.: INN 205872956
Statistics Code : OKPO 20443461
Activity Code : OKONKh 71150
Authorised Capital
: SUM 102,470,000
Paid-Up Capital : SUM 102,470,000
Obshchestvo s
OgranichennoyOtvetstvennostyu (limited liability company) with the following
shareholders :
Shareholders
1. Alisher
Shokasimov
(majority)
2. Other
undisclosed physical individual
The exact shareholding
percentage could not be learnt.
The Company is
involved in the following activities :
Trading as
importers, wholesalers and retailers of auto spare parts and tires.
Subject provides
repair and maintenance services.
Distributors for
Goodyear, Michelin, Continental, Fulda and Sava.
Subject’s principal
supplier include:
Handlopex S.A.
Regulska Street
Warsaw 02-495
Poland
NACE Code: 4540
Imports from
Europe, Poland and China.
Subject does not export,
all sales are domestic.
The Company has the
following facilities :
Owned premises (294
sq. m.) comprising administrative offices, a showroom and storage facilities
located at the heading address as well as two showrooms located elsewhere in
Tashkent.
Massiv Chilanzar,
Kvartal-10, Building 35, Flat No.38 /39
Chilanzarskiy
District
Tashkent 100123
You enquired on: OOO
Al Voris Avto Trade. Please note that the correct name is as per heading.
Interviewed:
Alisher Musakhodzhaev (Purchasing Specialist).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.93 |
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UK Pound |
1 |
Rs.102.75 |
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Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
VNT |
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.