MIRA
INFORM REPORT
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Report Date : |
13.06.2006 |
IDENTIFICATION
DETAILS
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Name : |
HUSSEIN
AHMED AL HABABI CO |
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Registered Office : |
Al
Sitteen Street, West Area, PO Box – 12709, Sana’a |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
10740, Sana’a |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesalers and retailers of building materials, sanitary ware products, ceramics, cast metals and iron. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$
100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : HUSSEIN AHMED AL HABABI CO
Country of Origin : Yemen
Legal Form : Limited Liability Partnership
Registration Date : 1984
Commercial Registration Number : 10740, Sana’a
Issued Capital : YR 4,000,000
Paid up Capital : YR 4,000,000
Total Workforce : 15
Line of Business : Wholesalers and retailers of building materials, sanitary ware
products, ceramics, cast metals and iron.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
HUSSEIN
AHMED AL HABABI CO
ADDRESS
Registered & Physical Address
Street : Al Sitteen Street
Area : West Area
PO Box : 12709
Town : Sana’a
Country : Yemen
Telephone : (967-1) 215192 / 215194
Facsimile : (967-1) 215187
Email : alhababi@yemen.net.ye
Premises
Subject
operates from a small suite of offices and a showroom that are owned and
located in the Central Business Area of Sana’a.
KEY PRINCIPALS
·
Hussein
Ahmed Al Hababi Managing
Partner
·
Mohamed
Ahmed Al Hababi Partner
·
Ahmed
Hussein Ahmed Al Hababi General
Manager
LEGAL FORM & OWNERS
Date
of Establishment : 1984
Legal
Form : Limited Liability Partnership
Commercial
Reg. No. : 10740, Sana’a
Issued
Capital : YR 4,000,000
Paid
up Capital : YR 4,000,000
Name of Partner (s)
·
Hussein
Ahmed Al Hababi
·
Mohamed
Ahmed Al Hababi
Note to the Legal Form A
Limited Liability Partnership is defined in the Company Law as a company
incorporated with not less than two, and no
more than fifty partners, each responsible only for the liabilities of the
company to the extent of their share participation in the capital of the
company. Shares must not be issued in the form of negotiable shares or papers.
The legal concepts adopted by the Company Law refer to the members of this type
of company as “partners” and not as “shareholders”. This type of company is
quite similar to a private company limited by shares that exists in English
Law.
LINE OF BUSINESS
Operations
: Engaged in the wholesale and
retail of building materials, sanitary ware
products,
ceramics, cast metals and iron.
Import
Countries : Europe and GCC countries.
International
Suppliers :
·
Ras
Al Khaimah Ceramics Ras Al
Khaimah, UAE
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Fujairah
Ceramics Fujairah,
UAE
Operating
Trend : Steady
Subject
has a workforce of 15 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Yemeni Riyal (YR)
Year Ending
31/12/04 : Year
Ending 31/12/05 :
Total
Revenue YR 142,000,000 YR 148,500,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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International
Bank of Yemen (YSC)
PO Box : 2847
Sana’a
Tel : (967-1) 273273
Fax : (967-1) 274127
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000
Established
in 1984, subject is involved in the wholesale and retail of building materials,
sanitary ware products, ceramics, cast metals and iron.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: US$ 100,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |