MIRA INFORM REPORT

 

 

Report No. :

489537

Report Date :

08.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

RASHAD BAHLUL OGLU ABBASOV INDIVIDUAL ENTREPRENEUR 

 

 

Registered Office :

Yeni Yasamal Street 1, Building 6, Flat 174 Yasamal District Baku AZ1012

 

 

Country :

Azerbaijan

 

 

Date of Incorporation :

03.08.2006

 

 

Legal Form :

Individual Entrepreneur

 

 

Line of Business :

Trading as importers, wholesalers and retailers of pet food and accessories.

 

 

No. of Employees :

10

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Maximum Credit Limit :

NEW MANAT 18,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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

(30.06.2017)

Current Rating

(30.09.2017)

Azerbaijan

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

 

 

AZERBAIJAN - ECONOMIC OVERVIEW

 

Prior to the decline in global oil prices since 2014, Azerbaijan's high economic growth was attributable to rising energy exports, and some non-export sectors also featured double-digit growth. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline, the Baku-Novorossiysk, and the Baku-Supsa Pipelines remain the main economic driver, but efforts to boost Azerbaijan's gas production are underway. The expected completion of the geopolitically important Southern Gas Corridor between Azerbaijan and Europe will open up another source of revenue from gas exports. Declining oil prices caused a 3.1% contraction in GDP in 2016, and a 1% decline in 2017, reinforced by a sharp reduction in the construction sector. The economic decline has been accompanied by higher inflation and a weakened banking sector in the aftermath of the two sharp currency devaluations since 2015.

Azerbaijan has made limited progress with market-based economic reforms. Pervasive public and private sector corruption and structural economic inefficiencies remain a drag on long-term growth, particularly in non-energy sectors, but the government has made efforts to combat corruption, particularly in customs and with the “ASAN” one-stop window concept for government services. Several other obstacles impede Azerbaijan's economic progress, including the need for more foreign investment in the non-energy sector and the continuing conflict with Armenia over the Nagorno-Karabakh region. While trade with Russia and the other former Soviet republics remains important, Azerbaijan has expanded trade with Turkey and Europe and is seeking new markets for non-oil/gas exports, mainly from the agricultural sector, for example with Gulf Cooperation Council member countries, the US, and others.

Long-term prospects depend on world oil prices, Azerbaijan's ability to implement export routes for its growing gas production, and its ability to improve the business environment and diversify the economy. In late 2016, the President approved a strategic roadmap that identified key non-energy segments of the economy for development, such as agriculture, logistics, and tourism.

 

Source : CIA

 

Company name and address

 

CO. NAME : Rashad Bahlul Oglu Abbasov IP

 

ADDRESS

 

Street               : Heydar Aliyev Avenue 92

 

Area                 : Nizami District

 

Town                : Baku AZ1000

Country             : Azerbaijan

 

Telephone         : (994 12) 567 3793 / Mobile (994 50) 344 8818 / (994 50) 587 8888 (Rashad Bahlul Oglu    

                            Abbasov)         

Fax                   : (994 12) 567 3793

E-Mail               : info@animal.az / hills_az@mail.ru

Website            : www.animal.az

 

Extended Name : Rashad Bahlul Oglu Abbasov Individualniy Predprinimatel 

 

English Translation : Rashad Bahlul Oglu Abbasov Individual Entrepreneur 

 

Also known as : Rashad Bakhlul Oglu Abbasov IP

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                 Position

 

1. Rashad Bahlul Oglu Abbasov             General Manager / Owner

 

2. Abbas Khabibov                               Assistant General Manager  

 

Total Employees : 10

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts,

although it is normal accepted practice for international suppliers to deal on secured terms with Azerbaijani importers.

 

Opinion on maximum credit : NEW MANAT 18,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKER

 

NAME     : KAPITAL BANK OJSC

 

Branch   : Fizuli Street 71

Town     : Baku AZ1014

 

Telephone: (994 12) 493 5041

Fax      : (994 12) 493 7905

 

The company also has an account with the following banks:

 

1. International Bank of Azerbaijan OJSC

   Nizami Street 67

   Baku AZ1005  

   Telephone: (994 12) 493 0091

   Fax      : (994 12) 493 4091

 

2. BTB Bank JSC

   Yusif Safarov Street 27

   Baku AZ1025

   Telephone: (994 12) 499 7995

   Fax      : (994 12) 499 7995

 

 

FINANCIAL INFORMATION

 

Private companies in Azerbaijan are not required to publish or disclose balance sheets. However, the subject interviewed offered

the following information :

 

Sales Turnover            : NEW MANAT  767,357 - 2013 - exact

                        : NEW MANAT  913,150 - 2014 - exact

                        : NEW MANAT  770,000 - 2015 – exact

                        : NEW MANAT  990,000 – 2016 – exact  

                        : NEW MANAT  900,000 – 2017 – exact

 

Net Profit                      : NEW MANAT  153,471 - 2013 - exact

                        : NEW MANAT  173,498 - 2014 – exact

                        : NEW MANAT  115,500 – 2015 – exact

                        : NEW MANAT  240,000 – 2016 – exact

                        : NEW MANAT  230,000 – 2017 – exact

                        

Total Value of Stock Held : NEW MANAT 1,000,000 (as of January 2017)

 

Total Invested Capital    : NEW MANAT 1,600,000 (as of January 2017)

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started     : 3 August 2006

 

History              : The subject company was established in Baku on 3 August 2006.

 

Tax No.             : VOEN 1301068072 

 

Capital              : not applicable

 

Individualniy Predprinimatel (Individual Entrepreneur) owned by Rashad Bahlul Oglu Abbasov.  

 

Affiliated company of the subject company :

 

Associate

 

Universal-RA MMC

Yeni Yasamal Street 1, Building 6, Flat 174

Yasamal District

Baku AZ1012

Managing Director: Rashad Bahlul Oglu Abbasov

Est.: 24 December 2007

Tax No.: VOEN

Capital: NEW MANAT 20

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers, wholesalers and retailers of pet food and accessories.

NACE Code: 4690

 

Imports from Germany, USA, Italy, Poland, Ukraine, Russia, Turkey, Spain and China.

Subject does not export, all sales are domestic.

Subject’s principal suppliers include: Midwesternpetfoods (USA), Hobby (Poland), Boyu (China), Piensos Ortin (Spain), Bentash Bentonit (Turkey) and Tetra, Trixie (Germany) 

FACILITIES

 

The Company has the following facilities :

 

600 sq. m. rented premises comprising administrative offices and storage facilities located at the heading address as well as 5 retail outlets located elsewhere in Baku (see 'Branch Offices' below).

 

Subject formerly used the following mobile number:

 

Mobile: (994 55) 857 8888 (Mikhail Kheyrutdinov)

 

 

REGISTERED OFFICE

 

Yeni Yasamal Street 1, Building 6, Flat 174

Yasamal District

Baku AZ1012

 

 

BRANCH OFFICES

 

1. TC “Taza Bazar”

   Azadlyg Avenue 97C

   Baku

 

2. Khagani Street 20C

   Baku

 

3. Mamed Ragimli Street 535

   Baku

 

4. Samed Vurgun Street 73

   Baku 

 

 

SPECIAL NOTE

 

The address provided by you: YENI YASAMAL 1, BUL 6, FLAT 174, AZ1012 BAKU applies to subject's registered office address. Please note that

subject's administrative office address is as per heading.

 

Interviewed: Rashad Bahlul Oglu Abbasov (General Manager / Owner).

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.14

UK Pound

1

INR 89.50

Euro

1

INR 79.43

AZN

1

INR 38.05

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

TRU

 

 

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.