News ID : 3876
Publish Date : 09 January 2020 - 09:00
By the approval of capital increasing from reevaluating assets, automakers get closer to exit bankruptcy and increasing the power of guarantee in order to take bank’s facilities.
Khodrocar - Yesterday, the amendment to the by-law of Article 149 of the Direct Taxes Act to enforce Article 14 of the Law on the Maximum Use of Iranian Goods to Provide a Reassessment, was approved by the Cabinet and the framework for this specific statutory provision was five years. The time of notification of the law is included. Accordingly, many companies will be able to use this legal capacity.

The situation is that the carmakers had received a reassessment permit from the stock exchange in July of this year, along with the annual meeting, and had to do so by the end of the year. Iran Khodro as a company Subjects in the by-law have chosen their representative to indicate that they have this issue on their agenda this year.

In this condition there would be a question that executing this law will help the automakers to improve their liquidity situation or not?

"There are generally several ways to raise capital, the first of which comes from cash flow, and the second is from the firm's accumulated profits, which are highly favored, with the capital market and shareholders always responding positively.” Mehdi Haji Vand, expert of capital market told khodrocar reporter.

"In this situation, the company equates itself financially with the currency and the rate of inflation, and this method of raising capital comes when inflation is experienced in the economy and companies seek to reconcile their assets with inflation rather than renewal. Assessment of the location of the asset.” He said.

"Under these circumstances, companies start offering financial statements and evaluate each product at a specific price, which increases the company's assets as the price increases. Thus, by adopting the by-law to increase capital from the recently passed asset revaluation, the capital increase will be recorded and in this case the paper value of the company and its assets will increase.” He said.

"The point is, however, that the company will continue to face liquidity problems, so the only positive effect is the psychological impact on the capital market and its shareholders.” He added.

"Since inflation is known as the rise of the dollar, so the asset increases the value of the company on paper, and the assets of the company are matched with inflation and the value of the company rises.” He continued.

"Just as the minimum required land value at the time of mortgages should be paid for the facility, the increase in the car companies' assets through the revaluation of the borrowing power of the facility will increase the financial position of the car maker.” He said.

Now that it has been adopted to maximize the power of the bylaws, it is necessary for automakers to provide enforcement measures as soon as possible in order to plan for increased production as well as other ways to improve conditions.

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