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MIRA INFORM REPORT
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Report No. : |
491336 |
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Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
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Name : |
UZMEDIMPEKS STATE UNITARY
ENTERPRISE |
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Registered Office : |
Mirzo
Ulugbek Street 32B Mirzo Ulugbek District Tashkent 100007 |
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Country : |
Uzbekistan |
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Date of Incorporation : |
14.07.1995 |
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Com. Reg. No.: |
688 |
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Legal Form : |
State unitary enterprise |
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Line of Business : |
Trading
as importers and distributors of pharmaceuticals. |
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No. of Employees : |
100 |
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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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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
CO.
NAME : Uzmedimpeks GUP (Correct)
RSFEE
O ZMEDEKSPORT (Requested)
ADDRESS
Street :
Mirzo Ulugbek Street 32B
Area :
Mirzo Ulugbek District
Town :
Tashkent 100007
Country :
Uzbekistan
Telephone :
(998 71) 268 0884 / 268 2544 / 241 1670 (Ekhtiyor Ganiboevich) / 239 4808
(Ministry of Health
of Uzbekistan) / Mobile (998 97) 777 3385
(Khigmatulo Fatkhulaevich Usmanov)
Fax :
(998 71) 268 0884
E-Mail :info@uzmedexport.uz
Website :
www.uzmedexport.uz
Extended Name : Uzmedimpeks Gosudarstvenno Unitarnoye
Predpryatye
English Translation : Uzmedimpeks
State Unitary Enterprise
Also known as : O’zmedimpeks
Davlat Unitar Korxonasi
Formerly known as : Uzmedeksport Respublikanskoe
Vneshneekonomicheskoe Gosudarstvennoe Predriyatie
SENIOR
COMPANY PERSONNEL
Name Position
1.
Kurban Dovletovich Klychev General Director
2.
Khigmatulo Fatkhulaevich Usmanov Chief
Accountant
3.
Ekhtiyor Ganiboevich Chief Accountant of the
Ministry of
Health of Uzbekistan
Total
Employees : 100
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
Subject
is a state unitary enterprise under the aegis of the Ministry of Health of the
Republic of Uzbekistan, which is the central governmental management body of
management in healthcare and in its activities is subordinated to the Cabinet
of Ministers of Uzbekistan.
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 Uzbekistani importers.
PRINCIPAL BANKERS
NAME :
KDB BANK UZBEKISTAN JSC
Branch :
Bukhara Street 3
Town :
Tashkent 100047
Telephone : (998 71) 120 8000
Fax :
(998 71) 120 8000
The
company also has an account with :
National
Bank of Uzbekistan
Amir
Timur Street 101
Tashkent
100084
Telephone:
(998 71) 234 9060
Fax : (998 71) 234 9060
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 5,000,000,000 - 2017 - exact
Net
Profit : not given but stated to be profitable
Financial
year ends 31 December.
LEGAL STATUS AND HISTORY
Date
Started : 14 July 1995
History
: The subject company was established in Tashkent on 14 July 1995 under the
name Uzmedeksport Respublikanskoe Vneshneekonomicheskoe Gosudarstvennoe
Predriyatie. On 7 November 2017, subject changed its name to the present
style.
C.R.
No. : 688
Tax
No.: INN 200523284
Statistics
Code : OKPO 02157438
Authorised
Capital : SUM 3,000,000,000
Paid-Up
Capital : SUM 3,000,000,000
Gosudarstvennoye
Unitarnoye Predpryatye (state unitary enterprise) responsible to the following:
Ministry
of Health of the Republic of Uzbekistan
Navoi
Street 12
Shaykhontohur
District
Tashkent
100011
Telephone:
(998 71) 241 1691
Fax : (998 71) 241 1634
ACTIVITIES
The
Company is involved in the following activities :
Trading
as importers and distributors of pharmaceuticals.
NACE
Code: 4646
Imports
worldwide.
Subject
does not export, all sales are domestic.
FACILITIES
The
Company has the following facilities :
Owned
premises comprising administrative offices and storage facilities located at
the heading address.
REGISTERED OFFICE
Mirzo
Ulugbek Street 32B
Mirzo Ulugbek
District
Tashkent
100007
SPECIAL NOTE
You
enquired on: RSFEE O ZMEDEKSPORT. Please note that the correct name is as per
heading.
Interviewed:
Khigmatulo Fatkhulaevich Usmanov (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 64.13 |
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1 |
INR 89.17 |
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Euro |
1 |
INR 79.39 |
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UZS |
1 |
INR 0.0077 |
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
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.