MIRA INFORM REPORT

Report No. :	504759
Report Date :	24.04.2018

IDENTIFICATION DETAILS

Name :	OOO PRIMPORTBUNKER
Registered Office :	Svetlanskaya Street 167, Leninskiy District, Primorskiy Region, 690001 Vladivostok
Country :	Russia
Financials (as on) :	31.12.2016
Date of Incorporation :	18.05.2001
Com. Reg. No.:	OGRN 1022501292802
Legal Form :	Limited Liability Company
Line of Business :	· Sea and coastal freight water transport; · Agents involved in the sale of fuels, ores, metals and industrial chemicals;
No. of Employees :	40

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but Correct
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)
Russia	A2	A2

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

RUSSIA - ECONOMIC OVERVIEW

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a centrally planned economy towards a more market-based system. Both economic growth and reform have stalled in recent years, however, and Russia remains a predominantly statist economy with a high concentration of wealth in officials' hands. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy, transportation, banking, and defense-related sectors. The protection of property rights is still weak, and the state continues to interfere in the free operation of the private sector.

Russia is one of the world's leading producers of oil and natural gas, and is also a top exporter of metals such as steel and primary aluminum. Russia is heavily dependent on the movement of world commodity prices as reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the volatile swings in global prices. The economy, which had averaged 7% growth during the 1998-2008 period as oil prices rose rapidly, has seen diminishing growth rates since then due to the exhaustion of Russia’s commodity-based growth model.

A combination of falling oil prices, international sanctions, and structural limitations pushed Russia into a deep recession in 2015, with GDP falling by close by 2.8%. The downturn continued through 2016, with GDP contracting another 0.2%, but was reversed in 2017 as world demand picked up. Government support for import substitution has increased recently in an effort to diversify the economy away from extractive industries.

Source : CIA

Company name and address

COMPANY NAME	OOO PRIMPORTBUNKER
ADDRESS	Building	Street			Area			PO Box
	N/A	Svetlanskaya Street 167, Office 450			Leninskiy District, Primorskiy Region			690001 Vladivostok
TEL/FAX	Verified Phones: (+7 4232) 516 921 / (+7 4232) 516 922 / Fax: (+7 4232) 516 923
EMAIL/WEBSITE	Email: primportbunkerdv@mail.ru / ppb-dv@mail.ru / Website: N/A
ACTIVITY	NACE 5020 - Sea and coastal freight water transport; NACE 4612 - Agents involved in the sale of fuels, ores, metals and industrial chemicals;
PRINCIPAL	Maksim Valerievich Pushkarev					Workforce
	Managing Director					40
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	18/05/2001		OGRN 1022501292802	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			1,014,500

BUSINESS INFORMATION REPORT

IDENTIFICATION
CO. NAME	OOO PRIMPORTBUNKER
ENQUIRED NAME	PRIM PORT BUNKER
ALSO KNOWN NAME (S)	OOO PPB / PRIM PORT BUNKER / PRIMPORTBUNKER LLC / PRIM PORT BUNER CO. LTD
STREET	Svetlanskaya Street 167, Office 450
AREA	Leninskiy District, Primorskiy Region
POSTAL ADDRESS	690001 Vladivostok
CITY	Vladivostok
COUNTRY	Russia
TELEPHONE	(+7 4232) 516 921 / (+7 4232) 516 922 / (+7 4232) 826 443
FAX	(+7 4232) 516 923
VERIFIED EMAIL	primportbunkerdv@mail.ru / ppb-dv@mail.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Svetlanskaya Street 167, Leninskiy District, Primorskiy Region, 690001 Vladivostok, Russia
ADDITIONAL ADDRESS	Okeanskiy Avenue 131, Vladivostok, Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Maksim Valerievich Pushkarev Nationality: Russian Tax Code: INN 250305405104	Managing Director
	Natalia Troshina	Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	40	04.2018

FINANCIAL SUMMARY
REVENUE	31/12/2016	31/12/2015
	RUBLE 344,080,000	RUBLE 429,540,000
NET PROFIT / (LOSS)	31/12/2016	31/12/2015
	RUBLE 72,000	RUBLE 571,000
PROFIT BEFORE TAX	RUBLE 311,000 as of 31/12/2016
STOCK/INVENTORIES	RUBLE 15,751,000 as of 31/12/2016
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	18/05/2001
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1022501292802	Federal Tax Service
OTHER REGISTRATION NO.	INN 2536109660 (Tax Code) / KPP 253601001 / OKPO 56789318 (Statistics Code) / OKTMO 05701000001
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	RUBLE	1,014,500
PAID-UP CAPITAL	AMOUNT	CURRENCY
	RUBLE	1,014,500
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The Company was incorporated in Russia on 18 May 2001.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Aleksandr Nikolaevich Anikin Nationality: Russian Tax Code: INN 253713278097 2. Anna Vladimirovna Anikina Nationality: Russian Tax Code: INN 254001125751	55.00% 45.00%

OPERATION
BANKERS	JSC MARITIME BANK Svetlanskaya Street 78 B Vladivostok Russia Telephone: (+7 4232) 265 238 SWIFT: MJSBRUMM
ACTIVITY CODE (NACE)	5020 - Sea and coastal freight water transport; 4612 - Agents involved in the sale of fuels, ores, metals and industrial chemicals;
LINE OF BUSINESS	Providers of sea transportation and bunkering services.
IMPORT/EXPORT	Subject does not engage in importing nor exporting activities.
FACILITIES	Premises comprising administrative offices located at the heading address.
RELATED COMPANIES	Associates 1. OOO PRIMPORTTRADE Pushkinskaya Street 40/503 Vladivostok 690001 Russia Est.: 15/08/2012 C.R. No.: OGRN 1122536008980 Tax Code: INN 2536255773 Managing Director: Evgeniy Viter Shareholders: Aleksandr Nikolaevich Anikin – 50% Valeriy Vladimirovich Lomakin – 30% Stanislav Rusinov – 20% 2. OOO VLADTRANSNEFTEPRODUCT Pushkinskaya Street 21a/6 Vladivostok 690091 Russia Est.: 11/02/2009 C.R. No.: OGRN 1092536000886 Tax Code: INN 2536213163 Managing Director: Dmitriy Yashkov Shareholders: Dmitriy Yashkokv – 52% Aleksandr Nikolaevich Anikin – 48% Status: Liquidated Date of Liquidation: 02/06/2011

FINANCIAL INFORMATION
CURRENCY	RUBLE
PERIOD	31/12/2016	31/12/2015
CURRENT ASSETS	106,384,000	119,689,000
STOCK/INVENTORIES	15,751,000	11,647,000
NON-CURRENT ASSETS	17,363,000	19,046,000
CURRENT LIABILITIES	31,730,000	52,349,000
NON-CURRENT LIABILITIES	63,762,000	58,204,000
EQUITY	28,255,000	28,182,000
BALANCE TOTAL	123,747,000	138,735,000
REVENUE	344,080,000	429,540,000
NET PROFIT / LOSS	72,000	571,000
NOTES	Balance sheets as at 31 December 2016 showed : 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Intangible assets 26,000 29,000 Fixed assets 17,336,000 19,017,000 Deferred tax assets 1,000 0 Total non-current assets 17,363,000 19,046,000 Current assets Stock 15,751,000 11,647,000 Value added tax on purchased valuables 0 5,000 Trade receivables 59,948,000 73,375,000 Financial investments 30,637,000 34,575,000 Cash and cash equivalents 48,000 18,000 Other current assets 1,000 68,000 Total current assets 106,384,000 119,689,000 TOTAL ASSETS 123,747,000 138,735,000 EQUITY & LIABILITIES Share capital 1,014,500 1,014,500 Added capital 8,489,000 8,489,000 Retained earnings 18,751,000 18,679,000 Total Equity 28,255,000 28,182,000 Long-term liabilities Borrowings 63,464,000 57,875,000 Deferred tax liabilities 298,000 329,000 Total long-term liabilities 63,762,000 58,204,000 Short-term liabilities Borrowings 170,000 83,000 Accounts payable 31,560,000 52,265,000 Total Short-term Liabilities 31,730,000 52,349,000 TOTAL EQUITY & LIABILITIES 123,747,000 138,735,000 INCOME STATEMENT Revenue 344,080,000 429,540,000 Cost of Sales (337,308,000) (422,281,000) Gross Profit 6,772,000 7,259,000 Commercial expenses (10,444,000) (7,626,000) Profit(loss) from sales (3,672,000) (367,000) Other income and expenses Interest income 3,258,000 3,792,000 Interest payable (7,647,000) (9,408,000) Other income 20,679,000 19,685,000 Other expenses (12,307,000) (12,252,000) Profit(loss) before taxation 311,000 1,450,000 Change in deferred tax liabilities 31,000 31,000 Current income tax (119,000) (805,000) Net Profit(loss) 72,000 571,000

SPECIAL REMARKS
INTERVIEWED	Subject’s employees.
COMMENTS	You enquired on: PRIM PORT BUNKER. Please note that subject’s correct registered name is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.22
UK Pound	1	INR 92.84
Euro	1	INR 81.27
RUB	1	INR 1.08

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	KET

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)

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