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MIRA
INFORM REPORT
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Report No. : |
495254 |
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Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SUN PETROL LIMITED |
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Registered Office : |
Barakat Centre, 3rd Floor Mawlana Jalaluddin Street, Mazar-E-Sharif |
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Country : |
Afghanistan |
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Date of Incorporation : |
01.06.2010 |
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Com. Reg. No.: |
22401 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is expanding its petrol stations and mobile stations
to be available for commuters nationwide. |
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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 : |
Unknown |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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Afghanistan |
C2 |
C2 |
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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 |
AFGHANISTAN - ECONOMIC OVERVIEW
Afghanistan is gradually recovering from decades of conflict. Before 2014, the economy had sustained nearly a decade of strong growth, largely because of international assistance. Since 2014, however, the economy has slowed, in large part because of the withdrawal of nearly 100,000 foreign troops that had artificially inflated the country’s economic growth. Despite improvements in life expectancy, incomes, and literacy since 2001, Afghanistan is extremely poor, landlocked, and highly dependent on foreign aid. Much of the population continues to suffer from shortages of housing, clean water, electricity, medical care, and jobs. Corruption, insecurity, weak governance, lack of infrastructure, and the Afghan Government's difficulty in extending rule of law to all parts of the country pose challenges to future economic growth. Afghanistan's living standards are among the lowest in the world.
The international community remains committed to Afghanistan's development, pledging over $83 billion at ten donors' conferences between 2003 and 2016. In October 2016, the donors at the Brussels conference pledged an additional $3.8 billion in development aid annually from 2017 to 2020. Despite this help, the Government of Afghanistan will need to overcome a number of challenges, including low revenue collection, anemic job creation, high levels of corruption, weak government capacity, and poor public infrastructure.
In 2017 Afghanistan's growth rate was only marginally above
that of the 2014-2016 average. The drawdown of international security forces
that started in 2012 has negatively affected economic growth, as a substantial
portion of commerce, especially in the services sector, has catered to the
ongoing international troop presence in the country. Afghan President Ashraf
GHANI Ahmadzai is dedicated to instituting economic reforms to include
improving revenue collection and fighting corruption. However, the reforms will
take time to implement and Afghanistan will remain dependent on international donor support over the next several years.
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Source
: CIA |
NOTE
In absence of
financials, no credit limit could be recommended.
Company name and summary
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Location : |
Owned |
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Rented |
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Leased |
Area |
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Sq. ft. |
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Type of Office : |
Commercial Office Bldg |
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Semi-commercial office Bldg |
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Bank |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg |
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Owned |
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Rented |
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Leased |
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Area |
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Sq. ft. |
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No. of Employees
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In Office : |
100 |
In Factory : |
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In Branch : |
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Total : |
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Main Products & Services |
Sun Petrol, an AP&G subsidiary, so far has
launched 5 petrol stations and 2 mobile stations in Mazar-e-Sharif, Kabul, Herat,
Jowzjan and Baghlan. Sun Petrol is expanding its petrol stations and mobile
stations to be available for commuters nationwide. Petrol and diesel products are imported from Russia,
Uzbekistan, Kazakhstan and Turkmenistan meeting all the legal standards when
entering the country. Sun Petrol is the only petrol station in Afghanistan
that is available for commuters 24/7 with its luxurious markets, offices, car
maintenance services, automatic car wash and customer cards, a cashless,
convenient and secure way to buy fuel. |
SPECIFIC NAMES OF PRODUCTS /SERVICES
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Activity (M, I, E, T, S) |
Detailed Products |
Note: (M) Manufacture; (T) Trader; (I) Importer; (E) Exporter; (S) Service
CAPITAL
STRUCTURE
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Authorized Capital |
60,000,000 AFN |
No. of Shares |
60,000 |
Share Value : |
1,000 |
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Paid-up Capital |
60,000,000 AFN |
No. of Shares |
60,000 |
Share Value : |
1,000 |
MANAGEMENT
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First name |
Abdul Wahab |
Last Name |
Wahab |
Age |
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Nationality |
Afghan |
Job Description |
President |
Sex |
Male |
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Department |
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Email address |
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Other details |
M: +93 797 808
080 |
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First name |
Mahmut Can |
Last Name |
Kadiri |
Age |
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Nationality |
Afghan |
Job Description |
Vice President |
Sex |
Male |
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Department |
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Email address |
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Other details |
M: +93 728 900
330 |
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First name |
Ali |
Last Name |
Ramin |
Age |
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Nationality |
Afghan |
Job Description |
Manager |
Sex |
Male |
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Department |
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Email address |
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Other details |
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First name |
Najibullah |
Last Name |
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Age |
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Nationality |
Afghan |
Job Description |
Manager |
Sex |
Male |
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Department |
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Email address |
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Other details |
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First name |
Ahmad Nasser |
Last Name |
Nasser |
Age |
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Nationality |
Afghan |
Job Description |
Manager |
Sex |
Male |
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Department |
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Email address |
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MAJOR
SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
Amount of shares |
% of Shares |
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Parent Company: AP & G |
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100% |
Detailed Data
TRADE REFERENCE AND RELATED
PARTIES
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Subsidiaries/Affiliates/
Joint Ventures (*) |
1.Afghan National Petroleum LTD 2.Sun Gas LTD 3.International Oil LTD |
FINANCIAL SUMMARY
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BANK DETAILS
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Bank Name : |
Afghanistan International
Bank |
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Bank Address : |
Kabul, Afghanistan |
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Bank Name : |
Banke Millie Afghan |
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Bank Address : |
Kabul, Afghanistan |
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ADDITIONAL INFORMATION |
Parent Company: AP&G Name/Title: The subject refused us |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.96 |
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1 |
INR 90.34 |
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Euro |
1 |
INR 80.75 |
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AFN |
1 |
INR 0.94 |
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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VAR |
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Report Prepared
by : |
SYL |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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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.