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MIRA INFORM REPORT
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Report No. : |
501503 |
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Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
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Name : |
NEO AGROTECH GROUP OOO |
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Registered Office : |
Oqqorgon Street 21A-50,
Mirzo Ulugbek District, Tashkent 100000 |
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Country : |
Uzbekistan |
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Date of Incorporation : |
11.10.2016 |
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Com. Reg. No.: |
011166-04 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of agricultural machinery and
restaurant equipment. |
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No. of Employees : |
6 |
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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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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Uzbekistan |
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 |
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.
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Source
: CIA |
NOTE
In absence of financials, no credit limit could be recommended.
COMPANY NAME
NEO
AGROTECH GROUP OOO (CORRECT)
OOO NEO AGROTEC
(REQUESTED)
ADDRESS
Street : Oqqorgon Street 21A-50
Area :
Mirzo Ulugbek District
Town : Tashkent 100000
Country :
Uzbekistan
Mobile :
(998 90) 996 0440 (Khabibullo Ruzimurodovich Kadirov) / (998 90) 960 7577 (Aziz
Abdulfatikhovich Tulyaganov) / (998 90) 344 0404 / (998 90) 996 0440
E-Mail : agromashelit@mail.ru
Extended Name : Neo Agrotech Group Obshchestvo s
Ogranichennoy Otvetstvennostyu
English Translation : Neo
Agrotech Group LLC
Also known as : Neo Agrotech
Group MChJ
SENIOR
COMPANY PERSONNEL
Name Position
1. Usman Magripovich Zaripov Managing
Director
2. Aziz Abdulfatikhovich Tulyaganov Chief
Accountant
Total Employees: 6
PAYMENTS
No trade experience of payments is available.
Subject was incorporated on 11 October 2016 and commenced operations in
March 2017.
Opinion on maximum credit : As the subject has recently commenced
operations and has no financial or payment track record, we recommend dealing
on fully secured terms.
Trade risk assessment: High
It is normal accepted practice for international suppliers to deal on
secured terms with Uzbekistani importers.
PRINCIPAL BANKERS
NAME : IPOTEKA BANK JSCMB
Branch : Shaxrisabz Street 30
Town : Tashkent 100000
Telephone: (998
71) 150 8956
Fax : (998 71) 150 9825
FINANCIAL INFORMATION
As the Company has
only recently commenced operations, relevant financial information is not
available. However, the subject interviewed offered the following information :
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.
The following
financial information applies to subject’s affiliated company Agromash Elit
OOO:
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.
LEGAL STATUS AND HISTORY
Date Started : 11 October 2016
History : The subject
company was established in Tashkent on 11 October 2016 and commenced operations
in March 2017.
Tax No.: INN 304369233
Statistics Code: OKPO 26617324
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
Agromash Elit OOO
Sugdiyona Street
22
Sergeli District
Tashkent 100209
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
Managing Director:
Rovshan Khikmatullayevich Ergashev
Est.: 11 November
2014
C.R. No. :
004509-06
Tax No.: INN
303087768
Statistics Code :
OKPO 25313993
Activity Code:
OKONh 71150
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 agricultural machinery and restaurant equipment.
NACE Code: 4690
Imports from
Poland, China, South Korea and Russia.
Subject does not
export, all sales are domestic.
FACILITIES
The Company has
the following facilities :
Owned premises
comprising administrative offices located at the heading address.
REGISTERED OFFICE
Oqqorgon Street
21A-50
Mirzo Ulugbek
District
Tashkent 100000
SPECIAL NOTE
You enquired on:
OOO NEO AGROTEC. Please note that the correct name is as per heading.
Interviewed: Aziz
Abdulfatikhovich Tulyaganov (Chief Accountant).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.06 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.78 |
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UZS |
1 |
INR 0.0078 |
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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NIY |
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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
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Company
background and operations size
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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.