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MIRA INFORM REPORT
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Report No. : |
500332 |
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Report Date : |
02.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SAR-JI LLC |
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Registered Office : |
9th
Nork Street, Apartment 90, Yerevan 0047 |
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Country : |
Armenia |
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Date of Incorporation : |
26.05.2003 |
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Com. Reg. No.: |
273.110.03526 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
importers, wholesalers and retailers of cosmetics and detergents. |
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No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
DRAM 24,000,000 |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Armenia |
B2 |
B2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
ARMENIA - ECONOMIC OVERVIEW
Under the old Soviet central planning system, Armenia developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics, in exchange for raw materials and energy. Armenia has since switched to small-scale agriculture and away from the large agro industrial complexes of the Soviet era. Armenia has only two open trade borders - Iran and Georgia - because its borders with Azerbaijan and Turkey have been closed since 1991 and 1993, respectively, as a result of Armenia's ongoing conflict with Azerbaijan over the separatist Nagorno-Karabakh region.
Armenia joined the World Trade Organization in January 2003. The government has made some improvements in tax and customs administration in recent years, but anti-corruption measures have been largely ineffective. Armenia will need to pursue additional economic reforms and strengthen the rule of law in order to raise its economic growth and improve economic competitiveness and employment opportunities, especially given its economic isolation from Turkey and Azerbaijan.
Armenia's geographic isolation, a narrow export base, and pervasive monopolies in important business sectors have made it particularly vulnerable to volatility in the global commodity markets and the economic challenges in Russia. Armenia is particularly dependent on Russian commercial and governmental support, as most key Armenian infrastructure is Russian-owned and/or managed, especially in the energy sector. Remittances from expatriates working in Russia are equivalent to about 12-14% of GDP. Armenia joined the Russia-led Eurasian Economic Union in January 2015, but has remained interested in pursuing closer ties with the EU as well, signing Comprehensive and Enhanced Partnership Agreement with the EU in November 2017. Armenia’s rising government debt is leading Yerevan to tighten its fiscal policies – the amount is approaching the debt to GDP ratio threshold set by national legislation.
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Source
: CIA |
COMPANY NAME
SAR-JI LLC (CORRECT)
SAR JI LLC (REQUESTED)
ADDRESS
Street :
Arshakunyats Avenue 25/1
Area :
Shengavit District
Town :
Yerevan 0023
Country :
Armenia
Telephone :
(374 12) 444 243 / 444 241
Fax :
(374 12) 444 243
E-Mail
: ko.sarji@gmail.com
Website
: www.mamashop.am / www.syneo.am
Extended Name : Sar-Ji Limited Liability
Company
SENIOR COMPANY PERSONNEL
Name Position
Sergey Aghajanyan Managing Director
Total Employees: 40
PAYMENTS
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for SMALL amounts,
however in view of the lack of financial information we recommend
international suppliers exercise a degree of caution.
Opinion on maximum credit : DRAM 24,000,000 (higher amounts may be considered with full fiscal disclosure)
Trade risk assessment: Normal
It is normal accepted practice for international suppliers to deal on
secured terms with Armenian importers.
PRINCIPAL BANKERS
NAME : CONVERSE BANK CJSC
Branch : Vazgen Sargsyan Street 26/1
Town : Yerevan 0010
Telephone: (374
10) 511 211
Fax : (374 10) 511 212
FINANCIAL INFORMATION
Private companies
in Armenia are not required to publish or disclose balance sheets. Balance
sheets are not available from other sources, and the subject interviewed
declined to give any financial information, which the company regards as strictly
confidential.
LEGAL STATUS AND HISTORY
Date Started : 26 May 2003
History : The
subject company was established in Yerevan on 26 May 2003.
C.R. No. :
273.110.03526
Tax No.: 01546258
Authorised Capital
: DRAM 50,000
Paid-Up Capital :
DRAM 50,000
Limited Liability Company with the
following sole shareholder :
Jenni
Aghajanyan
100%
(mother of Mr. Sergey Aghajanyan)
ACTIVITIES
The Company is
involved in the following activities :
Trading as importers,
wholesalers and retailers of cosmetics and detergents.
NACE Code: 4645
Imports from
Poland and Russia.
Subject does not
export, all sales are domestic.
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative offices, a retail outlet and
storage facilities located at the heading address as well as 4 retail outlets
located elsewhere in Yerevan.
REGISTERED OFFICE
9th
Nork Street, Apartment 90
Yerevan 0047
SPECIAL NOTE
You enquired on: SAR JI LLC. Please note that the correct name is as per
heading.
The address which you provided: 90 NORK 9TH STR, EREWAN applies to
subject's registered office address. Please note that subject's operational
office address is as per heading.
Interviewed: Sergey Aghajanyan (Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.04 |
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1 |
INR 92.28 |
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Euro |
1 |
INR 80.62 |
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AMD |
1 |
INR 0.14 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.