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MIRA INFORM REPORT
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Report No. : |
501504 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
AGROVER OOO |
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Registered Office : |
Achchi-Soy Village, Fusunkor Street 91, Zangiota District, Boz-Su QFY,
Tashkent Region 111804 |
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Country : |
Uzbekistan |
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Date of Incorporation : |
27.08.2008 |
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Com. Reg. No.: |
2360 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
Importers and Distributors of Seeds and Pesticides. |
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No. of Employees : |
95 |
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 Limits : |
SUM 1,000,000,000 |
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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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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 |
COMPANY NAME
AGROVER OOO (CORRECT)
AGROVER LLC
(REQUESTED)
ADDRESS
Street :
Achchi-Soy Village, Fusunkor Street 91
Area : Zangiota District, Boz-Su QFY
Province : Tashkent Region 111804
Country :
Uzbekistan
Telephone :
(998 71) 140 5988 / 150 8832 (Chief Accountant) / 150 8834
Fax :
(998 71) 140 5988
E-Mail
: dilya.abdullaeva@gmail.com / lyudmila74-74@mail.ru
Website
: www.agrover.uz
Extended Name :
Agrover Obshchestvo s Ogranichennoy Otvetstvennostyu
English Translation : Agrover LLC
Also known As :
Agrover MChJ
SENIOR
COMPANY PERSONNEL
Name Position
1. Bakhtiyor
Amanillaevich Khodzhaev Managing Director
2. Lyudmila Sheynyaeva Chief Accountant
3. Dilya
Abdullayeva Accountant
Total Employees: 95
PAYMENTS
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 Uzbekistani importers.
Opinion on maximum credit: SUM 1,000,000,000
Trade risk assessment: Normal
PRINCIPAL BANKERS
NAME :
ORIENT FINANS BANK PJSC
Branch : Yakkachinor Street 7A
Town :
Tashkent 100029
Telephone : (998 71) 140 7000
Fax :
(998 71) 140 7000
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 : SUM 42,000,000,000 – 2014 – exact
: SUM 49,000,000,000 -
2015 – exact
: SUM 27,000,000,000 –
2016 – exact *
:
SUM 51,000,000,000 - 2017 - exact
: SUM 45,000,000,000 -
2018 – projected
Net Profit : Not given but stated to be 40% of the
sales turnover
* Decrease in sales turnover in 2016 was due to unfavourable market conditions.
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started: 27 August 2008
History: The
subject company was established in Tashkent Region on 27 August 2008.
C.R. No.: 2360
Tax No.: INN
300922269
Statistics Code :
OKPO 22495953
Authorised Capital
: SUM 483,245,000
Paid-Up Capital :
SUM 483,245,000
Obshchestvo s Ogranichennoy Otvetstvennostyu
(limited liability company) with the following shareholders :
Shareholders Percentage
1. Sof Tabiat Agro OOO 90%
Tashkent
Region
2. Dilshod Nasirdjanovich Takhirov 10%
Affiliated
companies of the subject company:
Associates
1. Agrover
Urugchilik OOO
2. Agrver Plus OOO
3. Agrover Green
House OOO
4. Salanuz OOO
5. Salanuz Agro
OOO
6. Salanuz Plus
OOO
7. Salanuz Fresh
Food OOO
8. Salanuz Export
OOO
ACTIVITIES
The Company is
involved in the following activities :
Trading as
importers and distributors of seeds and pesticides.
NACE Code: 4621
Imports from the
Netherlands, UK, Poland and Germany.
Subject does not
export, all sales are domestic.
FACILITIES
The Company has
the following facilities :
Owned premises
comprising administrative offices and storage facilities located.
REGISTERED OFFICE
Achchi-Soy
Village, Fusunkor Street 91
Zangiota District,
Boz-Su QFY
Tashkent Region
111804
SPECIAL NOTE
You enquired on: AGROVER 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: Lyudmila Sheynyaeva (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 64.93 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.69 |
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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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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
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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.