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MIRA INFORM REPORT
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Report No. : |
502952 |
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Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Karatash Street 2 (formerly Khodzhaeva
Street 2) Shaykhontohur District Tashkent 100027 |
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Country : |
Uzbekistan |
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Financials (as on) : |
31.12.2017 (Summarized) |
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Date of Incorporation : |
25.05.2009 |
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Com. Reg. No.: |
004567-11 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Trading as
importers and retailers of water filters, ventilation systems, sanitaryware
and water treatment equipment. |
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No. of Employees : |
23 |
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 : |
SUM 120,000,000 |
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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
Mineral Trading OOO (Correct)
OOO MINERAL TRADING (Requested)
ADDRESS
Street : Usta Shirin Street 134/17
Area : Olmazar District
Town : Tashkent 100000
Country : Uzbekistan
Telephone : (998 71) 150 8344 (Chief Accountant) /
248 2999 (Bakhtiyor Rakhmatullayevich) / Mobiles (998 90) 964 2168 / (998
90) 328 2303 / (998 94) 665 1166
Fax : (998 71) 1508344
Email :
sobir1765@mail.ru / info@ecowaterfilters.uz / durdona.begim@rambler.ru
Trading Style
: EcoWaterFilters / SanTehnoDom
Extended Name : Mineral Trading Obshistva s
Ogranichennoy Otvetstvennostyu
English Translation : Mineral Trading LLC
Also Known As : Mineral Trading MChJ
SENIOR COMPANY PERSONNEL
Name Position
1. Sabir Aripovich Shermukhamedov Managing
Director
2. Bakhtiyor Rakhmatullayevich General
Manager
3. Durdona Tokhtaevna
Ashurakhanova Chief Accountant
Total Employees : 23
PAYMENTS
No complaints have been heard regarding payments
from local suppliers or banks.
We consider it is acceptable to deal with the
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 120,000,000
Trade risk assessment : Normal
PRINCIPAL BANKER
NAME : AZIYA ALYANS BANK JSC
Branch : Shaykhantaur Street 87A
Town : Tashkent 100000
Telephone :
(998 71) 228 6877 / 241 7799
Fax : (998 71) 241 8866
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
: EURO 750,000 - 2012 - exact
: EURO 800,000 - 2013 – exact
: EURO 1,200,000 - 2014 – exact
: SUM 3,500,000,000 – 2015 – exact
: SUM 5,985,000,000 – 2016 – exact
: SUM 6,000,000,000 – 2017 –
exact
Net Profit
: SUM 120,000,000 – 2015 – exact
: SUM 74,800,000 – 2016 – exact
: SUM 155,000,000 – 2017 – exact
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 25 May 2009
History : The subject company was established in
Tashkent on 25 May 2009. Initially, subject’s shareholding structure was as
following: Sabir Aripovich Shermukhamedov (100%). In 2014, subject’s
shareholding structure changed to the present.
C.R. No. :
004567-11
Tax No. :
INN 206999614
Statistics
Code : OKPO 22823512
Activity
Code : OKONKh 71150
Authorised Capital :
SUM 200,000,000
Paid-up Capital :
SUM 200,000,000
Obshchestva s Ogranichennoy Otvetstvennostyu
(limited liability company) with the following shareholders :
Shareholders Percentage
1. Sabir Aripovich Shermukhamedov 82.7%
2. Shavkat Nortojievich Мuratkhanov 17.3%
ACTIVITIES
The Company is involved in the following activities
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Trading as importers and retailers of water
filters, ventilation systems, sanitaryware and water treatment equipment.
NACE Code: 3600 / 4673
Imports from Poland, Spain, Czech Republic, Germany
and Italy.
Subject does not export, all sales are domestic.
Distributors for Cersanit, AlcaPlast, EcoWater Systems,
BlueFilters Group, EcoSoft and Dospel.
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative offices,
storage facilities and a retail outlet located at the heading address.
Subject
previously used the following telephone and fax numbers:
Telephone : (998 71) 150 7080
Fax : (998 71) 253 9012
REGISTERED OFFICE
Karatash Street 2 (formerly Khodzhaeva Street 2)
Shaykhontohur District
Tashkent 100027
SPECIAL NOTES
You enquired on: OOO MINERAL TRADING. Please note
that the correct name is as per heading.
The address which you provided : CHODZAJEWA 2, 100027
TASZKIENT, SHAYHANTAHURSKIY RAYON is misspelt and applies to subject's
registered address. Please note that subject's administrative office address is
as per heading.
The telephone and fax numbers which you provided:
998 71 1507080 / 998 71 2539012 are no longer in use. Please note that
subject's current telephone and fax numbers are as per heading.
Interviewed : Durdona Tokhtaevna Ashurakhanova
(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 64.94 |
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1 |
INR 91.75 |
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Euro |
1 |
INR 79.90 |
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UZS |
1 |
INR 0.0081 |
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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PRI |
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Report Prepared
by : |
TRU |
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.