MIRA INFORM REPORT

Report No. :	496674
Report Date :	12.03.2018

IDENTIFICATION DETAILS

Name :	IP ADYLBEK MADRAIMOVICH YUSUPOV
Registered Office :	Ilyasov Lane 4 , Gami Village, Ak Bugday District , 745205, Ahal Velayat
Country :	Turkmenistan
Date of Incorporation :	28.09.1999
Com. Reg. No.:	401122505340
Legal Form :	Individual Entrepreneur
Line of Business :	· Other retail sale in non-specialised stores · Wholesale of perfume and cosmetics
No. of Employees :	6

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	MANAT (TMT) 132,000
Status :	Satisfactory
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 (30.09.2017)	Current Rating (31.12.2017)
Turkmenistan	C1	C1

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

TURKMENISTAN - ECONOMIC OVERVIEW

Turkmenistan is largely a desert country with intensive agriculture in irrigated oases and significant natural gas and oil resources. The two largest crops are cotton, most of which is produced for export, and wheat, which is domestically consumed. Although agriculture accounts for almost 8% of GDP, it continues to employ nearly half of the country's workforce. Hydrocarbon exports, the bulk of which is natural gas going to China, make up 25% of Turkmenistan’s GDP. Ashgabat has explored two initiatives to bring gas to new markets: a trans-Caspian pipeline that would carry gas to Europe and the Turkmenistan-Afghanistan-Pakistan-India gas pipeline. Both face major financing and security hurdles and are unlikely to be completed soon.

Turkmenistan’s autocratic governments under presidents NIYAZOW (1991-2006) and BERDIMUHAMEDOW (since 2007) have made little progress improving the business climate, privatizing state-owned industries, and combatting corruption, limiting economic development outside the energy sector. High energy prices in the mid-2000s allowed the government to undertake extensive development and social spending, including providing heavy utility subsidies.

Low energy prices since mid-2014 are hampering Turkmenistan’s economic growth and reducing government revenues. The government has cut subsidies in several areas, and wage arrears have increased. In January 2014, the Central Bank of Turkmenistan devalued the manat by 19%, and downward pressure on the currency continues. There is a widening spread between the official exchange rate (4.1 TMM per US dollar) and the black market exchange rate (approximately 7 TMM per US dollar). Currency depreciation, corruption, isolationist policies, and limited spending on public services has resulted in a stagnate economy that is nearing crisis. Turkmenistan claims substantial foreign currency reserves, but non-transparent data limit international institutions’ ability to verify this information.

Source : CIA

SUMMARY
COMPANY NAME	IP Adylbek Madraimovich Yusupov
ADDRESS	Building	Street			Area			PO Box
	N/A	Ilyasov Lane 4			Gami Village, Ak Bugday District			745205 Ahal Velayat
TEL/FAX	Verified Phones: (+993 64) 722 312 / (+7 999) 796 2298 (Inam Tadjiev)
EMAIL/WEBSITE	Email: adyl-yusupov@rambler.ru / inam_tadjiev@mail.ru / Website: N/A
ACTIVITY	NACE 4719 - Other retail sale in non-specialised stores; NACE 4645 - Wholesale of perfume and cosmetics;
PRINCIPAL	Adylbek Madraimovich Yusupov					Workforce
	General Manager / Owner					6
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	28/09/1999		INN 401122505340	Individual Entrepreneur			Active
CAPITAL	CURRENCY			AMOUNT
	MANAT (TMT)			Not applicable
OPINION ON MAX CREDIT	CURRENCY			AMOUNT
	MANAT (TMT)			132,000

IDENTIFICATION
CO. NAME	IP Adylbek Madraimovich Yusupov
ENQUIRED NAME	PREDPRINIMATEL YUSUPOV ADYLBEK MADRAIMOVICH
ALSO KNOWN NAME (S)	Adylbek Madraimovich Yusupov Individualniy Predprinimatel / Adylbek Madraimovich Yusupov Individual Entrepreneur / Telekeci Adylbek Madraimovich Yusupov / Telekeci Yusupow A.M.
STREET	Ilyasov Lane 4
AREA	Gami Village, Ak Bugday District
POSTAL ADDRESS	745205 Ahal Velayat
CITY	Ahal Velayat
COUNTRY	Turkmenistan
TELEPHONE	(+993 64) 722 312 / (+7 999) 796 2298 (Inam Tadjiev) / (+993 60) 140 862
VERIFIED EMAIL	adyl-yusupov@rambler.ru / inam_tadjiev@mail.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	10:00-18:00	13:00-14:00
REGISTERED ADDRESS	Ilyasov Lane 4, Gami Village, Ak Bugday District, 745205 Ahal Velayat, Turkmenistan

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Adylbek Madraimovich Yusupov	General Manager / Owner
	Inam Tadjiev	Sales Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	6	03.2018

FINANCIAL SUMMARY
REVENUE	31/12/2016	31/12/2015
	MANAT 5,347,386	MANAT 5,347,386
NET PROFIT / (LOSS)	31/12/2016	31/12/2015
	MANAT 534,738	MANAT 1,758,750
STOCK/INVENTORIES	MANAT 1,004,363 as of 31/12/2016

LEGAL STATUS
INCORPORATION	28/09/1999
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	C.R. No.: 00000198	Ministry of Finance
OTHER REGISTRATION NO.	INN 401122505340 (Tax Code) / Parent No.: Series I, No. 0089658
CAPITAL	Not applicable
LEGAL FORM	Individual Entrepreneur
BUSINESS HISTORY	The subject was established in Turkmenistan on 28 September 1999 and re-registered on 14 August 2015.
STATUS	Active
OWNER	NAME	PERCENTAGE
	Adylbek Madraimovich Yusupov Nationality: Turkmenistani Passport No.: I-AU 646586 Date of Issue: 14/07/2015	100.00%

OPERATION
BANKERS	State Bank For Foreign Economic Affairs Of Turkmenistan Garashsyzlyk Street 32 Ashgabat 744000 Telephone: (+993 12) 406 040 Fax : (+993 12) 406 595
ACTIVITY CODE (NACE)	NACE 4719 - Other retail sale in non-specialised stores; NACE 4645 - Wholesale of perfume and cosmetics;
LINE OF BUSINESS	Trading as importers, wholesalers and retailers of cosmetics. Subject’s principal suppliers include: Eveline Cosmetics, Canexpol Cosmetics, Verona Cosmetics, Marcon-Avista Cosmetics Sp Zoo and GeNaTa European Goods Sp Zoo Sp.K.
IMPORT FROM	Poland
EXPORT TO	Subject does not engage in exporting activities.
FACILITIES	Owned premises comprising administrative offices and storage facilities located at the heading address as well as 3 retail outlets located elsewhere in Ashgabat, Turkmenistan.

PAYMENT RECORDS
CREDIT LIMIT RECOMMENDATION	CURRENCY	AMOUNT
	MANAT	132,000

SPECIAL REMARKS
COMMENTS	You enquired on: PREDPRINIMATEL YUSUPOV ADYLBEK MADRAIMOVICH. Please note that subject’s correct registered name is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.08
UK Pound	1	INR 89.85
Euro	1	INR 80.16
TMT	1	INR 18.59

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	KET

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.