MIRA
INFORM REPORT
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Report Date : |
20th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL MAKTARY FOR BUILDING MATERIALS |
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Registered Office : |
Osifa Street Saopra, 6142 Taiz, Yemen |
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Country : |
Yemen |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
1972 |
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Com. Reg. No.: |
4416, Taiz |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of building
materials, ceramics, tiles and tools. |
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$ 75,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL MAKTARY FOR BUILDING MATERIALS |
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Country of Origin |
Yemen |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1972 |
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Commercial Registration Number |
4416, Taiz |
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Invested Capital |
YR 2,000,000 |
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Total Workforce |
10 |
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Line of Business |
Wholesalers and retailers of building materials, ceramics, tiles and tools. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL
MAKTARY FOR BUILDING MATERIALS
ADDRESS
Registered & Physical Address
Street : Osifa Street
Area : Saopra
PO Box : 6142
Town : Taiz
Country : Yemen
Telephone : (967-4) 253756
Facsimile : (967-4) 254429
Mobile : (967-77) 723777
Premises
Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Taiz.
KEY PRINCIPALS
Zaeem Mohamed Ali Al Maktary Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1972
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 4416, Taiz
Invested Capital : YR 2,000,000
Mr Zaeem Mohamed Ali Al Maktary is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations :
Engaged in the wholesale and retail of building materials, ceramics, tiles and
tools.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 10 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 36,200,000 YR 40,800,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Tadhamon International Islamic Bank
Jamal Street
Taiz
Tel : (967-4) 252817
Fax : (967-4) 252811
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
Established in 1972, subject is owned and managed by Mr Zaeem Mohamed Ali Al Maktary who is well respected in the local business community.
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.
Maximum suggested credit figure: US$ 75,000
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 |