|
|
|
MIRA
INFORM REPORT
|
Report No. : |
510995 |
|
Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOSHELECTROAPPARAT FE LLC |
|
|
|
|
Registered Office : |
Fargona Yuli Street (formerly
Tallimarjon Street 1) Mirabad District 100105 Tashkent |
|
|
|
|
Country : |
Uzbekistan |
|
|
|
|
Financials (as on) : |
31.12.2016 (Summarized) |
|
|
|
|
Date of Incorporation : |
06.02.2003 |
|
|
|
|
Com. Reg. No.: |
204370355 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of a wide range of low- and high-voltage electrical equipment,
incl. complete substations, switchgears, mine electric equipment, electric appliances and
electrical installation products, ASKUE
systems, photoelectric
stations, solar systems, elevator equipment. |
|
|
|
|
No. of Employees : |
200 (23.05.2018) |
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 Limit : |
65000 USD |
|
|
|
|
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) |
|
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 |
EXECUTIVE SUMMARY
|
COMMERCIAL NAME |
Toshelectroapparat FE
LLC |
|
Mas'uliyati
Cheklangan Jamiyat Shaklidagi "Toshelectroapparat" Xorijiy Korxonasi |
|
|
BUILDING |
94 |
|
STREET |
Fargona
Yuli Street (formerly Tallimarjon Street 1) |
|
AREA |
Mirabad District |
|
P.O. BOX |
100105 |
|
TOWN |
Tashkent |
|
COUNTRY |
Uzbekistan |
|
TELEPHONE |
(998 71) 299 5584
(Accounting Department) |
|
(998 71) 291 2635 (Purchasing Department)/299 8872 (Head
office / Secretary)/ 299 3533 (Accounting
Main Office) / 299 8872)/(998 71) 291 2785 (Technical Department of Plant
"Uzelectroapparat-Electroshit") / (998 71) 291 2792 (Purchasing Manager) /
(998 93 |
|
|
FAX |
(998 71) 291 2635 |
|
(998 71) 299 8872 |
|
|
E-MAIL |
|
|
WEBSITE |
|
|
ACTIVITIES |
Manufacturers
of a wide range of low-
and high-voltage electrical equipment, |
|
|
incl. complete substations, switchgears, mine electric equipment, electric appliances and electrical installation products, ASKUE
systems, photoelectric
stations, solar systems, elevator equipment, etc. The company's service department provides current warranty and
post-warranty servicing of the
delivered equipment, as well
as services on installation supervision and adjustment of the produced electrical equipment for voltage
6 (10), 27.5, 35, 110, 220 kV. Also subject manufactures metal furniture
and metal structures. The company provides services for laser cutting and electroplating. |
|||
|
EXECUTIVE |
Babir Satarovich
Rakhimov |
Managing Director |
||
|
WORKFORCE |
200 |
23/05/2018 |
subject |
|
|
ESTABLISHED YEAR |
2003 |
|||
|
MAIN REGISTRATION NO. |
204370355 |
|||
|
LEGAL FORM |
Llimited Liability
Company |
|||
|
STATUS |
Active |
|||
|
REGISTERED CAPITAL |
USD |
3,000,000 |
||
|
CREDIT OPINION |
We consider it is acceptable to deal with subject
for SMALL amounts, however in view of the lack
of financial information we recommend international suppliers exercise a
degree of caution. |
|||
|
MAXIMUM CREDIT |
USD |
65000 |
||
IDENTIFICATION
|
COMMERCIAL NAME |
Toshelectroapparat FE
LLC |
|
NAME IN THE
LOCAL LANGUAGE |
Mas'uliyati
Cheklangan Jamiyat Shaklidagi "Toshelectroapparat" Xorijiy Korxonasi |
|
ALSO KNOWN AS |
Toshelectroapparat
Inostrannoe Predriyatie Obshchestvo s Ogranichennoy Otvetstvennostyu /
Toshelectroapparat IP OOO / Toshelectroapparat XK MChJ |
PRINCIPAL PLACE OF BUSINESS
|
BUILDING |
94 |
|
STREET |
Fargona
Yuli Street (formerly Tallimarjon Street 1) |
|
AREA |
Mirabad District |
|
P.O. BOX |
100105 |
|
TOWN |
Tashkent |
|
COUNTRY |
Uzbekistan |
|
COUNTRY CODE |
UZ |
|
TELEPHONE |
(998 71) 299 5584
(Accounting Department) |
|
(998 71) 291 2635 (Purchasing Department)/299 8872 (Head
office / Secretary)/ 299 3533 (Accounting
Main Office) / 299 8872)/(998 71) 291 2785 (Technical Department of Plant
"Uzelectroapparat-Electroshit") / (998 71) 291 2792 (Purchasing Manager) /
(998 93 |
|
|
FAX |
(998 71) 291 2635 |
|
(998 71) 299 8872 |
|
|
E-MAIL |
|
|
WEBSITE |
|
|
PREMISES DESCRIPTION |
Administrative Office |
|
TYPE OF OCCUPATION |
Owned |
|
REGISTERED OFFICE |
Fargona Yuli Street 94,
Mirabad District, Tashkent 100105, Uzbekistan. |
LEGAL DATA
|
ESTABLISHED YEAR |
2003 |
||
|
INCORPORATION DATE |
06/02/2003 |
||
|
MAIN REGISTRATION NO. |
204370355 |
||
|
C.R. NO. |
816 |
||
|
TAX NO. |
204370355 |
REGISTERED AT |
Ministry of Justice |
|
INN |
|||
|
STATISTICS NO. |
18726720 |
||
|
|
OKPO |
|
|
REGISTRATION PLACE |
Tashkent |
|
|
REGISTERED CAPITAL |
USD |
3,000,000 |
|
PAID-UP CAPITAL |
USD |
3,000,000 |
|
LEGAL FORM |
Llimited Liability
Company |
|
|
OWNERSHIP TYPE |
Private |
|
|
STATUS |
Active |
|
|
STATUS DATE |
24/05/2018 |
|
OWNERSHIPSTRUCTURE (SHAREHOLDERS/PARTNERS/MEMBERS/OWNER)
|
1. |
EQUITY (%) |
|
|
NAME |
Comagra Commerz &
Agrar-Handel AG |
50% |
|
RELATION TYPE |
Shareholder |
|
|
ADDRESS |
Stauffacherstrasse
16,CH - 8004 |
|
|
TOWN |
Zurich |
|
|
COUNTRY |
Switzerland |
|
|
COUNTRY CODE |
CH |
|
|
TELEPHONE |
(41 44) 350 1939 |
|
|
FAX |
(41 44) 350 1938 |
|
|
E-MAIL |
||
|
WEBSITE |
||
|
ACTIVITY |
Suppliers
and distributors of crop
protection products, fertilizer and seeds;Sourcing and marketing of agricultural
produce and livestock; Procurement of technical equipment for agriculture, general construction and industries; Service provider for plant |
|
|
2. |
EQUITY (%) |
|
|
NAME |
Tanotraden AG |
50% |
|
RELATION TYPE |
Shareholder |
|
HISTORY
|
BACKGROUND |
|
The subject company was
established in Uzbekistan in 6 February 2003. The enterprise operates on the
basis of state owned
enterprise of the Scientific and Production Association "Sredazielektroapparat", which was operating since 1941. |
WORKFORCE
KEY MANAGEMENT PERSONNEL
|
1. |
POSITION |
|
|
NAME |
Babir Satarovich
Rakhimov |
Managing Director |
|
GENDER |
Male |
|
|
2. |
POSITION |
|
|
NAME |
Nelli Bekenovna
Tokhtabaeva |
Chief Accountant |
|
GENDER |
Female |
|
|
3. |
POSITION |
|
|
NAME |
Tatiana Beliaeva |
Assistant Chief |
|
GENDER |
Female |
Accountant |
|
WORKFORCE |
PERIOD |
NOTES |
|
200 |
23/05/2018 |
subject |
|
200 |
31/05/2017 |
subject |
OPERATIONS
ACTIVITIES
|
ACTUAL ACTIVITIES |
Manufacturers of a
wide range of low- and high-voltage electrical equipment,
incl. complete substations, switchgears, mine electric equipment, electric appliances and
electrical installation products, ASKUE
systems, photoelectric
stations, solar systems, elevator equipment, etc. The company's service department provides current warranty and
post-warranty servicing of the
delivered equipment, as well
as services on installation supervision and adjustment of the produced electrical equipment for voltage
6 (10), 27.5, 35, 110, 220 kV. Also subject manufactures metal furniture
and metal structures. The company provides services for laser cutting and electroplating. |
|
REGISTERED ACTIVITIES |
Manufacture of electric
lighting equipment. |
|
IMPORT TERMS |
Russia and Kazakhstan. |
|
EXPORT COUNTRIES |
CIS Countries, Russia,
Tajikistan and Kyrgyzstan. |
|
NACE CODE (REV. 2) |
DESCRIPTION |
|
3299 |
Other manufacturing
n.e.c. |
FACILITIES
Owned premises comprising administrative offices, a manufacturing unit and storage facilities located at the heading address.
RELATED COMPANIES
|
1. NAME |
JSC JV “Chirchik
Transformer Plant” (aka Chirchikskiy
Transformatorniy Zavod AO) |
|
|
ADDRESS |
Electric Mechanical
Engineering Square, 1 |
|
|
TOWN |
Chirchiq 111713 |
|
|
COUNTRY |
Uzbekistan |
|
|
COUNTRY CODE |
UZ |
|
|
TELEPHONE |
(998 70) 713 0420 / 713
0167 / 713 0324 |
|
|
FAX |
(998 70) 713 0162 /
(998 70) 713 1686 |
|
|
E-MAIL |
||
|
WEBSITE |
||
|
MANAGER |
Anvar Atabaevich
Mukhamedov |
Managing Director |
|
2. NAME |
Nukus Electroapparat LLC (Nukus Electroapparat OOO) |
GENERAL INFORMATION
Subject closely cooperates with the following company:
Ozelektroapparat-Electroshield AO
Fargona Yuli Street 94 (formerly Tallimarjon Street 1) Mirabad District
Tashkent 100105
Telephone : (998 71) 291 4411 / 291 7707 / 291 2904 (Legal
Department) / 283 2163 (Chief Accountant) / 299 5584 (Accounting Department)
Fax : (998 71) 291 4411
Managing Director: Vladimir Petrovich Royuk Est.: 18 July 1995
C.R. No. : 263/12 (issued on 18 July 1995) Tax No.: INN 201052167
Activity Code : OKONh 14171 Statistics Code : OKPO 00212883
Capital : SUM 4,343,855,000 (increased from SUM 868,771,000 in 2016) Shareholders:
Gruppa Kompaniy “Elektroshit” –TM “Samara” 94.94%
Russia
Individuals 5.06%
BANKERS
|
1. BANK NAME |
TRUSTBANK PJSEB |
|
ADDRESS |
Navoi Street 7,Tashkent
100011 |
|
WEBSITE |
trustbank.uz |
|
2. BANK NAME |
Orient Finans PJSCB |
|
ADDRESS |
Yakkachinor Street 7a,
Tashkent 100029 |
|
WEBSITE |
FINANCIAL INFORMATION
|
FINANCIAL YEAR ENDS |
31-Dec |
|
SUBJECT COMPANY FINANCIAL DATA |
|||||
|
NOTES |
Private
companies are not required to publish or disclose balance sheets. The subject interviewed
offered the following information (latest available): |
||||
|
CURRENCY |
UZS |
|
|
|
|
|
PERIOD ENDED |
31/12/2016 |
|
|
|
|
|
LENTH OF PERIOD |
12 |
|
|
|
|
|
RELIABILITY LEVEL |
estimated |
|
|
|
|
|
TURNOVER |
110000000000 |
|
|
|
|
PAYMENT INFORMATION
|
MODE OF PAYMENT |
No complaints banks. |
have |
been |
heard |
regarding |
payments |
from |
local |
suppliers |
or |
|
|
CREDIT OPINION |
We consider it is acceptable to deal with subject for SMALL amounts, however in view of the lack of financial information we recommend international
suppliers exercise a degree of caution. |
||||||||||
|
MAXIMUM CREDIT OPINION |
USD |
65000 |
|||||||||
|
TRADE RISK |
Normal |
||||||||||
SPECIAL REMARKS
|
INTERVIEWED PERSON |
Tatiana Beliaeva |
Assistant Chief
Accountant |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.63 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.20 |
|
UZS |
1 |
INR 0.0088 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
POJ |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.