MIRA
INFORM REPORT
|
Report Date : |
16th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
LEGEND INTERNATIONAL CO LTD |
|
|
|
|
Registered Office : |
Abueila Building, 2nd Floor, Office No. 4 Parliament Street, 3221 Khartoum, Sudan |
|
|
|
|
Country : |
Sudan |
|
|
|
|
Financials (as on) : |
31/12/2005 |
|
|
|
|
Date of Incorporation : |
1989 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of grain and metal products |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
LEGEND INTERNATIONAL CO LTD |
|
Country of Origin |
Sudan |
|
Legal Form |
Limited Liability Company |
|
Registration Date |
1989 |
|
Issued Capital |
SD 2,000,000 |
|
Paid up Capital |
SD 2,000,000 |
|
Total Workforce |
5 |
|
Line of Business |
Distributors of grain and metal products. |
|
Financial Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
LEGEND INTERNATIONAL CO LTD
ADDRESS
Registered & Physical Address
Building : Abueila Building, 2nd Floor, Office No. 4
Street : Parliament Street
PO Box : 3221
Town : Khartoum
Country : Sudan
Telephone : (249-183) 784734
Facsimile : (249-183) 782217
Premises
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Khartoum.
KEY PRINCIPALS
Mano Dadia Managing Director
Naresh Dadia Director
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form : Limited Liability Company
Issued Capital : SD 2,000,000
Paid up Capital : SD 2,000,000
Name of Shareholder (s)
Mano Dadia
Naresh Dadia
LINE OF BUSINESS
Operations :
Engaged in the import and distribution of grain and metal products, including
razor blades.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Sudanese Dinars (SD)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue SD 62,800,000 SD 65,650,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Saudi Sudanese Bank
PO Box : 1773
Al Baladia Street
Khartoum
Tel : (249-183) 776700
Fax : (249-183) 781836
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
Established in 1989, subject is owned and managed by Mr Mano Dadia and Mr Naresh Dadia who are well respected in the local business community.
During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk and the above credit figure is deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 100,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |