MIRA INFORM REPORT

 

 

Report No. :

496672

Report Date :

13.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

M.S. WOHL TRADE LLC

 

 

Registered Office :

Nerkin Shengavit Street 9, Building 1, Apartment 2/1 Yerevan

 

 

Country :

Armenia

 

 

Date of Incorporation :

24.09.2010

 

 

Com. Reg. No.:

269.110.03871

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading as importers and distributors of detergents and household products.

 

 

No. of Employees :

12

 

 

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 Limits :

DRAM 3,000,000

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

Armenia

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

 

 

 

ARMENIA - ECONOMIC OVERVIEW

 

Under the old Soviet central planning system, Armenia developed a modern industrial sector, supplying machine tools, textiles, and other manufactured goods to sister republics, in exchange for raw materials and energy. Armenia has since switched to small-scale agriculture and away from the large agro industrial complexes of the Soviet era. Armenia has only two open trade borders - Iran and Georgia - because its borders with Azerbaijan and Turkey have been closed since 1991 and 1993, respectively, as a result of Armenia's ongoing conflict with Azerbaijan over the separatist Nagorno-Karabakh region.

Armenia joined the World Trade Organization in January 2003. The government has made some improvements in tax and customs administration in recent years, but anti-corruption measures have been largely ineffective. Armenia will need to pursue additional economic reforms and strengthen the rule of law in order to raise its economic growth and improve economic competitiveness and employment opportunities, especially given its economic isolation from Turkey and Azerbaijan.

Armenia's geographic isolation, a narrow export base, and pervasive monopolies in important business sectors have made it particularly vulnerable to volatility in the global commodity markets and the economic challenges in Russia. Armenia is particularly dependent on Russian commercial and governmental support, as most key Armenian infrastructure is Russian-owned and/or managed, especially in the energy sector. Remittances from expatriates working in Russia are equivalent to about 12-14% of GDP. Armenia joined the Russia-led Eurasian Economic Union in January 2015, but has remained interested in pursuing closer ties with the EU as well, signing Comprehensive and Enhanced Partnership Agreement with the EU in November 2017. Armenia’s rising government debt is leading Yerevan to tighten its fiscal policies – the amount is approaching the debt to GDP ratio threshold set by national legislation.

 

Source : CIA

 

 

COMPANY NAME

 

M.S. WOHL TRADE LLC

 

 

ADDRESS

 

Street               : Sevan Street 116

 

Town                : Yerevan 0126

Country             : Armenia

 

Mobile              : (374 91) 806 991 (Sowren MiHISTqayelyan) / (374 91) 806 995 / (49 17) 9488 8781

                        (Artur Miqayelyan)          

E-Mail               : info@emes24.com

 

Extended Name  : M.S. Wohl Trade Limited Liability Company

 

Also known as  : M.S.Vo’l T'reyd LLC

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                    Position

 

1. Sowren Miqayelyan                Managing Director

 

2. Artur Miqayelyan                    Manager

  (brother of the above)

 

Total Employees:  12

 

 

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 Armenian importers.

 

Opinion on maximum credit : DRAM 3,000,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKER

 

NAME     : CONVERSE BANK CJSC

 

Branch   : Vazgen Sargsyan Street 26/1

Town     : Yerevan 0010

 

Telephone: (374 10) 511 211

Fax      : (374 10) 511 211      

 

 

FINANCIAL INFORMATION

 

Private companies in Armenia are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales Turnover              : EURO 200,000 - 2016 - approx

                                    : EURO 250,000 – 2017 - approx

 

Net Profit                      : Not given but stated to be 10-15% of the sales turnover

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 24 September 2010

 

History : The subject company was established in Yerevan on 24 September 2010.

 

C.R. No. : 269.110.03871

 

Tax No.: 02248954

 

Authorised Capital : DRAM 50,000

 

Paid-Up Capital : DRAM 50,000

 

Limited Liability Company with the following sole shareholder :

 

Sowren Miqayelyan          100%

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and distributors of detergents and household products.

 

NACE Code: 4690

 

Imports from Poland and Germany.

 

Subject does not export, all sales are domestic.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented premises comprising administrative offices and storage facilities located at the heading address.

 

 

REGISTERED OFFICE

 

Nerkin Shengavit Street 9, Building 1, Apartment 2/1

Yerevan

 

 

SPECIAL NOTES

 

The address which you provided: NERKIN SHENGAVIT STREET, 9 BUILDING 1, AP 2/1 EREWAN applies to subject's registered office address. Please note that subject's administrative office address is as per heading.

 

Interviewed: Artur Miqayelyan (Manager).

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.02

UK Pound

1

INR 90.12

Euro

1

INR 80.09

AMD

1

INR 0.14

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

NIT

 

 

 

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.