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MIRA
INFORM REPORT
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Report No. : |
492647 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ILKHOMCHON AKHMADOV PRIVATE ENTREPRENEUR |
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Registered Office : |
M. Khujandi
Street 4 Khujand 735700 |
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Country : |
Tajikistan |
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Date of Incorporation : |
25.11.2010 |
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Legal Form : |
Private Entrepreneur |
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Line of Business : |
General merchandise. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
D |
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Credit Rating |
Explanation |
Rating Comments |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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Status : |
Liquidated |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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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Tajikistan |
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 |
TAJIKISTAN - ECONOMIC OVERVIEW
Tajikistan is a poor, mountainous country with an economy dominated by minerals extraction, metals processing, agriculture, and reliance on remittances from citizens working abroad. The 1992-97 civil war severely damaged an already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Today, Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Less than 7% of the land area is arable and cotton is the most important crop. Tajikistan imports approximately 70% of its food. Mineral resources include silver, gold, uranium, antimony, and tungsten. Industry consists mainly of small obsolete factories in food processing and light industry, substantial hydropower facilities, and a large aluminum plant - currently operating well below its capacity.
Because of a lack of employment opportunities in Tajikistan, more than one million Tajik citizens work abroad - roughly 90% in Russia - supporting families back home through remittances that in 2014 were equivalent to nearly 50% of GDP. Some experts estimate the value of narcotics transiting Tajikistan is equivalent to 30%-50% of GDP.
Since the end of the civil war, the country has pursued half-hearted reforms and privatizations in the economic sphere, but the poor business climate remains a hurdle to attracting foreign investment. Tajikistan has sought to develop its substantial hydroelectricity potential through partnership with Russian, Iranian and Chinese investors, and is pursuing completion of the Roghun Dam - which, if built according to plan, would be the tallest dam in the world. However, the project is a sensitive issue for downstream neighbors and faces large financing shortfalls. In 2016, Tajikistan contracted with the Italian firm Salini Impregilo to build the dam over a 13-year period for $3.9 billion, and has yet to finance most of the project.
Recent slowdowns in the Russian and Chinese economies, low commodity prices, and currency fluctuations are hampering economic growth in Tajikistan. The dollar value of remittances from Russia to Tajikistan started showing small increases in 2017 after dropping by almost 65% in 2015. The government spent almost $500 million in 2016 to bail out the country’s banking sector, which is still troubled, and the government is facing challenges financing a public debt that is equivalent to approximately 50% of GDP. The National Bank of Tajikistan has aggressively spent its reserves to bolster the weakening somoni, leaving little space for fiscal or monetary measures to counter additional economic shocks.
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Source
: CIA |
Company NAME
Ilkhomchon
Akhmadov ChP (Correct)
PE
AHMADOV (Requested)
ADDRESS
Street :
M.Khujandi Street 4
Town :
Khujand 735700
Country :
Tajikistan
Extended Name : Ilkhomchon Akhmadov Chastniy
Predprinimatel
English Translation : Ilkhomchon
Akhmadov Private Entrepreneur
SENIOR COMPANY PERSONNEL
Name Position
Ilkhomchon Akhmadov General
Manager / Owner
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 a liquidated
entrepreneur since 20 February 2017.
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 Tajikistani 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.
LEGAL STATUS AND HISTORY
Date
Started : 25 November 2010
History : The subject company was established in Khujand on 25
November 2010 and was liquidated on
20 February 2017.
Tax
No.: INN 515310006
EIN
Code : 6730001493
Capital
: not applicable
Chastniy
Predprinimatel (Private Entrepreneur) owned Ilkhomchon Akhmadov.
ACTIVITIES
The
Company was involved in the following activities :
Registered
activity: General merchandise.
NACE
Code: 4690
FACILITIES
The
Company had the following facilities :
Registered
premises comprising administrative offices located at the heading address.
REGISTERED OFFICE
M.Khujandi
Street 4
Khujand
735700
SPECIAL NOTE
You
enquired on: PE AHMADOV. Please note that the correct name is as per
heading.
Interviewed:
Third Party Sources.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.10 |
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1 |
INR 94.44 |
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Euro |
1 |
INR 79.59 |
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TJS |
1 |
INR 7.37 |
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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NIY |
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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.