MIRA INFORM REPORT

Report No. :	508643
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	TASH-PET OOO
Registered Office :	Bunyodkor Street 59A, Chilanzar District, 100161 Tashkent,
Country :	Uzbekistan
Date of Incorporation :	18.09.2008
Com. Reg. No.:	004172-08
Legal Form :	Limited Liability Company
Line of Business :	Manufacture of other plastic products
No. of Employees :	52

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 :	UZS 2,180,000,000
Status :	Good
Payment Behaviour :	Regular
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)
Uzbekistan	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

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.

Source : CIA

COMPANY SUMMERY

COMPANY NAME	Tash-Pet OOO
ADDRESS	Building	Street			Area			PO Box
	N/A	Bunyodkor Street 59A			Chilanzar District, near to Chilanzarskiy Veshevoy Rynok			100161 Tashkent
TEL/FAX	Verified Phones: (+998 71) 279 3464 / (+998 71) 148 7000 / Fax: (+998 71) 279 4346
EMAIL/WEBSITE	Email: tashpet@mail.ru / Website: www.tashpet.uz
ACTIVITY	NACE 2229 - Manufacture of other plastic products;
PRINCIPAL	Shukhrat Khamidullaevich Akhmedov					Workforce
	Managing Director					52
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	18/09/2008		INN 300939824	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	UZS (SUM)			60,685,910
OPINION ON MAX CREDIT	CURRENCY			AMOUNT
	UZS (SUM)			2,180,000,000

BUSINESS INFORMATION REPORT

IDENTIFICATION
CO. NAME	Tash-Pet OOO
ENQUIRED NAME	TASH PET LLC
ALSO KNOWN NAME (S)	Tash-Pet Obshchestvo s Ogranichennoy Otvetstvennostyu / Tash-Pet LLC / Tash-Pet MChJ / Tash-Pet Ltd
STREET	Bunyodkor Street 59A
AREA	Chilanzar District, near to Chilanzarskiy Veshevoy Rynok
POSTAL ADDRESS	100161 Tashkent
CITY	Tashkent
COUNTRY	Uzbekistan
TELEPHONE	(+998 71) 279 3464 / (+998 71) 148 7000 / Mobiles (+998 90) 909 6111 (Zafar Akhmadzhonov) / (+998 90) 350 1929 / (+998 98) 307 9127
FAX	(+998 71) 279 4346
VERIFIED EMAIL	tashpet@mail.ru
WEBSITE	www.tashpet.uz
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Bunyodkor Street 59A, Chilanzar District, 100161 Tashkent, Uzbekistan
FORMER PHONE NO	Telephone: (998 71) 281 5227 / (+998 71) 215 7000 Fax : (998 71) 281 5088

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Shukhrat Khamidullaevich Akhmedov	Managing Director
	Zafar Akhmadzhonov Bela Zakharovna Lim	Financial Director Chief Accountant
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	52	05.2018
	35	01.2016

FINANCIAL SUMMARY
REVENUE	31/12/2017	31/12/2016
	SUM 109,000,000,000	SUM 71,000,000,000
NET PROFIT / (LOSS)	31/12/2017	31/12/2016
	SUM 12,000,000,000	SUM 16,000,000,000
NOTES	Historical Profit & Loss Account Sales Turnover: SUM 23,000,000,000 - 2011 SUM 34,200,000,000 - 2012 SUM 56,000,000,000 - 2013 SUM 60,200,000,000 - 2014 Net Profit: SUM 10,300,000,000 – 2013 SUM 13,500,000,000 – 2014
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	18/09/2008
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	004172-08	Ministry of Justice of the Republic of Uzbekistan
OTHER REGISTRATION NO.	INN 300939824 (Tax Code) / OKPO 22523141 (Statistics Code) / OKONKh 13141 (Activity Code)
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	60,685,910	SUM
PAID-UP CAPITAL	AMOUNT	CURRENCY
	60,685,910	SUM
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The subject company was established in Uzbekistan on 18 September 2008 and commenced production in 2009.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	Nazimzhon Nigmatzhanovich Usmanov Nationality: Uzbekistani	100.00%

OPERATION
BANKERS	1. Aziya Alyans Bank CHOAKB Shaykhantaur Street 87A Tashkent Telephone: (+998 71) 228 6877 / 241 7799 Fax : (+998 71) 241 8866 2. National Bank Of Uzbekistan Amir Temur Street 101 Tashkent 100000 Telephone: (+998 71) 137 6345 Fax : (+998 71) 137 6345 Subject previously had an account with: 1. Bank Ipak Yuli Farkhadskaya 12A Tashkent 100135 Telephone: (+998 71) 220 0009 / 220 3899 Fax : (+998 71) 220 3886 2. Asaka Bank Avtotransportniy, ulitsa Mukimi, prospekt 1, dom 9 Tashkent 100031 Telephone: (+998 71) 220 3901 Fax : (+998 71) 220 3927
ACTIVITY CODE (NACE)	NACE 2229 - Manufacture of other plastic products;
LINE OF BUSINESS	Manufacturers of PET preforms and caps. Annual production capacity: 1 billions of PET preforms. Subject’s partners include : KP Chemical Corp, Husky Injection Molding Systems and Plastic Systems S.p.A.
IMPORT FROM	South Korea, Germany, Turkey, Italy, China and Switzerland
EXPORT TO	Subject does not engage in exporting activities.
FACILITIES	Owned premises comprising administrative offices, a manufacturing unit and storage facilities located on 6 hectares plot of land at the heading address.

PAYMENT RECORDS
CREDIT OPINION	We consider it is acceptable to deal with subject for MEDIUM amounts.
CREDIT LIMIT RECOMMENDATION	CURRENCY	AMOUNT
	SUM	2,180,000,000
FINANCIAL STRENGTH	Normal
EMPLOYEE RANGE	ER4

SPECIAL REMARKS
INTERVIEWED	Zafar Akhmadzhonov (Financial Director).
COMMENTS	You enquired on: TASH PET LLC. Please note that this name applies to subject’s also known as name. Subject’s registered name is as per heading. The registration number given by you: 101553014 is incorrect. Please note that subject’s correct commercial registration number is 004172-08. The tax number which you provided: 01095 is incorrect. Please note that subject’s correct tax number is INN 300939824.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.99
UZS	1	INR 0.0084

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

INFORMATION DETAILS

Analysis Done by :	NIY
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.