MIRA INFORM REPORT

 

 

Report No. :

504998

Report Date :

27.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

ELITEFISH TOO

 

 

Registered Office :

Suyunbaya Avenue 461, Turksibskiy District, Almaty 050030

 

 

Country :

Kazakhstan

 

 

Date of Incorporation :

28.11.2013

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

The company is involved in the following activities:

Registered activity: Other food manufacturing.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

C

 

Credit Rating

 

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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)

Kazakhstan

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

 

 

KAZAKHSTAN - ECONOMIC OVERVIEW

 

Kazakhstan, geographically the largest of the former Soviet republics, excluding Russia, possesses substantial fossil fuel reserves and other minerals and metals, such as uranium, copper, and zinc. It also has a large agricultural sector featuring livestock and grain. The government realizes that its economy suffers from an overreliance on oil and extractive industries and has made initial attempts to diversify its economy by targeting sectors like transport, pharmaceuticals, telecommunications, petrochemicals and food processing for greater development and investment.

 

Kazakhstan's vast hydrocarbon and mineral reserves form the backbone of its economy. Chevron-led Tengizchevroil announced a $36.8 billion expansion of Kazakhstan’s premiere Tengiz oil field in July 2016. Meanwhile, the super-giant Kashagan field finally launched production in October 2016 after years of delay and an estimated $55 billion in development costs.

 

Kazakhstan is landlocked and depends on Russia to export its oil to Europe. It also exports oil directly to China. In 2010, Kazakhstan joined Russia and Belarus to establish a Customs Union in an effort to boost foreign investment and improve trade. The Customs Union evolved into a Single Economic Space in 2012 and the Eurasian Economic Union (EAEU) in January 2015. In part due to weak commodity prices, Kazakhstan’s exports to EAEU countries declined 23.5% in 2016. Imports from EAEU countries to Kazakhstan declined 13.7%.

 

The economic downturn of its EAEU partner, Russia, and the decline in global commodity prices from 2014 to 2015 contributed to an economic slowdown in Kazakhstan, which continues to experience its slowest economic growth since the financial crises of 2008-09. In 2014, Kazakhstan devalued its currency, the tenge, and announced a stimulus package to cope with its economic challenges. In the face of further decline in the ruble, oil prices, and the regional economy, Kazakhstan announced in 2015 it would replace its currency band with a floating exchange rate, leading to a sharp fall in the value of the tenge. Since reaching a low of 391 to the dollar in January 2016, the tenge has modestly appreciated, helped by somewhat higher oil prices.

 

Despite some positive institutional and legislative changes in the last several years, investors remain concerned about corruption, bureaucracy, and arbitrary law enforcement, especially at the regional and municipal levels. An additional concern is the condition of the country’s banking sector, which suffers from low liquidity, poor asset quality, and a lack of transparency. Investors also question the potentially negative effects on the economy of a contested presidential succession as Kazakhstan’s first president, Nursultan NAZARBAYEV, who turned 77 in 2017, has not announced whether he will seek reelection in 2019.

 

Source : CIA

 

 

COMPANY REPORT

 

CO. NAME:       ELITEFISH TOO (CORRECT)

                        TOO ELITEFISH (REQUESTED)

 

 

ADDRESS

 

Street     : Suyunbaya Avenue 461

Area       : Turksibskiy District

Town       : Almaty 050030

Country    : Kazakhstan

Extended Name  : EliteFish Tovarishchestvo s Ogranichennoy Otvetstvennostyu

English Translation : EliteFish LLP

Also known as : EliteFish ZhShS

 

 

SENIOR COMPANY PERSONNEL

 

Name                                                   Position

 

Dmitriy Nikolayevich Danilov                    Managing Director

 

 

PAYMENTS

 

No trade experience of payments is available.

 

Our sources could not contact the subject and obtain a direct interview. No telephone numbers are listed for the subject in the local telephone directory.

 

According to the local Chamber of Commerce subject’s position is shown as an active company.

 

Information in this report was obtained from the third party sources only. 

 

Opinion on maximum credit : In view of the above we have insufficient      

                            basis on which to speak for unsecured

                            credit and recommend dealing on fully

                            secured terms for all transactions 

 

Trade risk assessment : No classification (see above comments)

 

It is normal accepted practice for international suppliers to deal on secured terms with Kazakhstani importers.

 

PRINCIPAL BANKERS

 

Details of subject’s bankers have not been learnt.

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available. Financial information could not be obtained from other sources.

 

The following financial information is obtained from the local tax office file :

 

Total Taxes Paid            : TENGE     69,300 – 2015 – exact

                                    : TENGE 24,793,700 – 2016 – exact

                                    : TENGE 21,371,200 – 2017 – exact

                                    : TENGE  2,570,800 – 2018 – exact *

 

Including VAT Refund   : TENGE 23,598,200 – 2018 – exact *

Amount

 

* As of 1 April 2018.

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 28 November 2013

 

History : The subject company was established in Almaty on 28 November 2013.

 

Tax No.: RNN 600300619787

 

Business Identification No.: BIN 131140026570

 

Capital : not given

 

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

 

Dmitriy Nikolayevich Danilov         100%

 

 

ACTIVITIES

 

The company is involved in the following activities:

 

Registered activity: Other food manufacturing.

 

NACE Code: 3299

 

 

FACILITIES

 

The Company has the following facilities :

 

Registered premises comprising administrative offices located at the heading address.

 

 

REGISTERED OFFICE

 

Suyunbaya Avenue 461

Turksibskiy District

Almaty 050030

 

 

SPECIAL NOTE

 

You enquired on: TOO ELITEFISH. Please note that the correct name is as per heading.

 

Interviewed: Third Party Sources.

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.83

UK Pound

1

INR 93.17

Euro

1

INR 81.37

KZT

1

INR 0.20

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TPT

 

 

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.