MIRA
INFORM REPORT
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Report Date : |
20th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ARABIAN TRADING & ENGINEERING SERVICES |
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Registered Office : |
Crater Area, 106 & 16, Aden, Yemen |
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Country : |
Yemen |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
3616, Aden |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
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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 : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
ARABIAN TRADING & ENGINEERING SERVICES |
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Country of Origin |
Yemen |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1998 |
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Commercial Registration Number |
3616, Aden |
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Invested Capital |
YR 5,000,000 |
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Total Workforce |
20 |
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Line of Business |
Subject operates several divisions (see below for details). |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ARABIAN TRADING & ENGINEERING SERVICES
ADDRESS
Registered & Physical Address
Location : Crater Area
PO Box : 106 & 16
Town : Aden
Country : Yemen
Telephone : (967-2) 258427 / 258455
Facsimile : (967-2) 258456
Mobile : (967-77) 260606
Email : acr@yemen.net.ye
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Aden.
KEY PRINCIPALS
Mostafa Anwar Ibrahim Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 3616, Aden
Invested Capital : YR 5,000,000
Mr Mostafa Anwar Ibrahim 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 : Subject’s activities are performed through the following divisions:
Marine
Equipment Division
Engaged in the import and distribution of marine equipment, spare parts and related accessories.
General
Trading Division
Engaged in the import and distribution of general foodstuff products.
Import Countries : Europe and GCC countries.
International Suppliers :
Zinar Marine Electronic Dubai, UAE
Al Bawardi Marine Dubai, UAE
Operating Trend : Steady
Subject has a workforce of 20 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 47,000,000 YR 54,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of Yemen
PO Box : 5
Aden
Tel : (967-2) 252481
Fax : (967-2) 252974
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
Established in 1998, subject is owned and managed by Mr Mostafa Anwar Ibrahim who is 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 business is considered to be 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 |