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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

501543

Report Date :

06.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

AGROMASH ELIT OOO

 

 

Registered Office :

Sugdiyona Street 22, Sergeli District, Tashkent 100000

 

 

Country :

Uzbekistan

 

 

Date of Incorporation :

11.11.2014

 

 

Com. Reg. No.:

004509-06

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading as importers and distributors of agriculture machinery and equipment.

 

 

No. of Employees :

8

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

 

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

 

Maximum Credit Limit :

SUM 290,000,000

 

 

Status :

Moderate

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Uzbekistan

B2

B2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

 

UZBEKISTAN - ECONOMIC OVERVIEW

 

Uzbekistan is a doubly landlocked country in which 51% of the population lives in urban settlements; the agriculture-rich Fergana Valley, in which Uzbekistan’s eastern borders are situated, has been counted among the most densely populated parts of Central Asia. Since its independence in September 1991, the government has largely maintained its Soviet-style command economy with subsidies and tight controls on production, prices, and access to foreign currency. Despite ongoing efforts to diversify crops, Uzbek agriculture remains largely centered on cotton; Uzbekistan is the world's fifth-largest cotton exporter and seventh-largest producer. Uzbekistan's growth has been driven primarily by state-led investments, and export of natural gas, gold, and cotton provides a significant share of foreign exchange earnings.

Recently, lower global commodity prices and economic slowdowns in neighboring Russia and China have hurt Uzbekistan's trade and investment and worsened its foreign currency shortage. Aware of the need to improve the investment climate, the government is taking incremental steps to reform the business sector and address impediments to foreign investment in the country. Since the death of first President Islam KARIMOV and election of President Shavkat MIRZIYOYEV, emphasis on such initiatives and government efforts to improve the private sector have increased. In the past, Uzbek authorities accused US and other foreign companies operating in Uzbekistan of violating Uzbek laws and have frozen and seized their assets.

As a part of its economic reform efforts, the Uzbek Government is looking to expand opportunities for small and medium enterprises and prioritizes increasing foreign direct investment. In September 2017, the government devalued the official currency rate by almost 50% and announced the loosening of currency restrictions to eliminate the currency black market, increase access to hard currency, and boost investment.

 

Source : CIA

 

 

COMPANY NAME

 

AGROMASH ELIT OOO

 

 

ADDRESS

 

Street     : Sugdiyona Street 22

 

Area       : Sergeli District

 

Town       : Tashkent 100209

Country    : Uzbekistan

 

Mobile     : (998 90) 996 0440 (Khabibullo Ruzimurodovich Kadirov) / (998 94) 603 0197 (Rovshan Khikmatullayevich Ergashev) / (998 90) 960 7577 (Aziz Abdulfatikhovich Tulyaganov) / (998 90) 344 0404 

E-Mail     : agromashelit@mail.ru

 

Extended Name  : Agromash Elit Obshchestvo s Ogranichennoy Otvetstvennostyu

 

English Translation : Agromash Elit LLC

 

Also known as : Agromash Elit MChJ

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                            Position

 

1. Rovshan Khikmatullayevich Ergashev             Managing Director

 

2. Aziz Abdulfatikhovich Tulyaganov                   Chief Accountant

 

Total Employees: 8

 

 

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, although it is normal accepted practice for international suppliers to deal on secured terms with Uzbekistani importers.

 

Opinion on Maximum Credit: SUM 290,000,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKER

 

NAME     : KAPITAL BANK JSC

 

Branch   : Sayilgoh Street 7

Town     : Tashkent 100047

 

Telephone: (998 71) 236 2083

Fax      : (998 71) 200 0044

 

 

FINANCIAL INFORMATION

 

Private companies in Uzbekistan are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales Turnover              : US DLRS  1,625,000 - 2015 - exact

                                                : SUM  8,500,000,000 - 2016 – exact

                                                : SUM 14,500,000,000 – 2017 – exact 

 

Net Profit                      : SUM  2,500,000,000 – 2016 – exact

                                                : SUM  6,800,000,000 – 2017 – exact 

 

Financial year ends 31 December.

 

The following financial information applies to subject’s affiliated company Neo Agrotech Group OOO :

 

Sales Turnover          : SUM 1,500,000,000 - 2017 – exact *

 

Net Profit              : SUM   300,000,000 - 2017 – exact *

 

* First 10 months of operations (March – December).

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 11 November 2014

 

History : The subject company was established in Tashkent on 11 November 2014.

 

C.R. No. : 004509-06

 

Tax No.: INN 303087768

 

Statistics Code : OKPO 25313993

 

Activity Code: OKONh 71150

 

Authorised Capital : SUM 655,000,000 

 

Paid-Up Capital : SUM 655,000,000

 

Obshchestvo s Ogranichennoy Otvetstvennostyu (limited liability company) with the following sole shareholder :

 

Khabibullo Ruzimurodovich Kadirov   100%

 

Affiliated company of the subject company :

 

ASSOCIATE

 

Neo Agrotech Group OOO

Oqqorgon Street 21A-50

Mirzo Ulugbek District

Tashkent 100000

Mobile     : (998 90) 996 0440 (Khabibullo Ruzimurodovich Kadirov) / (998 90) 960 7577 (Aziz Abdulfatikhovich Tulyaganov) / (998 90) 344 0404 

Managing Director: Usman Magripovich Zaripov          

Est.: 11 October 2016

C.R. No. : 011166-04

Tax No.: INN 304369233

Statistics Code : OKPO 26617324

Capital : SUM 655,000,000

Sole Shareholder:

            - Khabibullo Ruzimurodovich Kadirov       

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and distributors of agriculture machinery and equipment.

 

NACE Code: 4661 

 

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 and storage facilities located at the heading address.

 

 

REGISTERED OFFICE

 

Sugdiyona Street 22

Sergeli District

Tashkent 100000

 

 

SPECIAL NOTES

 

Interviewed: Aziz Abdulfatikhovich Tulyaganov (Chief Accountant). 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.06

UK Pound

1

INR 91.50

Euro

1

INR 79.78

UZS

1

INR 0.0078

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

NIT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.