Khodrocar - At the same time as the two carmakers convened and the high amount of losses accumulated on the one hand and the necessity of privatization and state-owned shares of the two carmakers on the other, the reassessment of the two carmakers was emphasized with a view to excluding Article 141 of the Commercial Code.
Part makers also emphasize the need to transfer stocks to real value and up-to-date carmakers, saying they need to reassess carmakers more than anything else, as privatization has not been bright in the country and privatized companies in recent years They have faced a financial and labor crisis. However, two months after the assembly of automakers, no action has yet been taken, and if, according to the documentation, a six-month timeframe is set for it, two months have passed without any specific action.
"Automakers in practice are calling for a reassessment of Article 141, but the key question is whether their assets are sufficient to cover the current accumulated losses." Homayon Daraei, expert of stock market told khodrocar reporter.
"It is unclear to what extent a company such as Iran Khodro, which has accumulated more than 90 billion IRRs in accumulated losses, can raise surplus capital to reduce the accumulated loss share in the company." he added.
"The losses of car makers are increasing every month and companies are always losing, and if the company goes out of Article 141 some two to three trillion IRRs is added to the company losses so the revaluation will not affect the other if the assets Apart from land, revaluation increases depreciation costs, makes companies more likely to be in trouble, and if only land values are updated, there is no need to increase depreciation costs, but if you want to raise capital from other assets such as cars. Tools, the amortization debate comes up." he said.
"So the first point is about the effectiveness of raising capital from a reassessment, but as the rules and regulations change, it becomes more difficult to get things done and the team of experts have to be selected with a few inquiries and in the process of reassessment rather than one or more. The past two years have become more complicated and time consuming, and if the assets are in trouble, the process will be even longer." he said.
"The news has been very fledgling in this regard, and it is not yet clear whether the expert team of forensic experts has been selected, although the issue of valuation should be based on guidelines and forecasts." he added.
Meanwhile, Nader Ghazipour, a member of the Parliament's Committee on Industries and Mines, said that if the carmaker's assets were valued at dollar with the price of 12,000 Toman, it was worth more than their debt. Prior to the transfer, Iran Khodro and Saipa reassessed the assets of these companies and updated prices, and then transferred government shares in automobiles through the stock exchange in several stages.
Members of the parliament believe that the loss of car makers will be a gain by reassessing their assets. Accordingly, regulators have come to the revaluation of the assets of the two major Iranian auto makers before the privatization decision is implemented, but the capital market expert's remarks suggest that even doing so will not help reduce the losses of auto makers.