MIRA
INFORM REPORT
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Report Date : |
28th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL KBOUS FOR TRADING AND INDUSTRY |
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Registered Office : |
Al Zubairy Street, 816 & 2010,
Sana’a, Yemen |
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Country : |
Yemen |
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Financials (as on) : |
31-12-2005 |
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Date of Incorporation : |
1948 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of tea, coffee, tools and
electrical supplies. |
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$ 200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL KBOUS FOR TRADING AND INDUSTRY |
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Country of Origin |
Yemen |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1948 |
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Invested Capital |
YR 5,000,000 |
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Total Workforce |
30 |
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Line of Business |
Distributors of tea, coffee, tools and electrical supplies. |
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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 KBOUS FOR TRADING AND INDUSTRY
ADDRESS
Registered & Physical Address
Location : Al Zubairy Street
PO Box : 816 & 2010
Town : Sana’a
Country : Yemen
Telephone : (967-1) 270800
Facsimile : (967-1) 275014
Email : info@al-kbous.com
Premises
Subject operates from a small suite of offices and a workshop that are owned and located in the Central Business Area of Sana’a.
KEY PRINCIPALS
Mohamed Hassan Al Kbous Proprietor
Hassan Mohamed Hassan Al Kbous General Manager
Ibrahim Mohamed Hassan Al Kbous Assistant General Manager
Amin Mohamed Hassan Al Kbous Commercial Manager
LEGAL FORM & OWNERS
Date of Establishment : 1948
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested Capital : YR 5,000,000
Mr Mohamed Hassan Al Kbous 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 import and distribution of tea, coffee, tools and electrical
supplies.
Subject is also involved in the manufacture of packaging and plastic materials.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 30 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 96,000,000 YR 104,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of Yemen
PO Box : 5
Sana’a
Tel : (967-1) 253484
Fax : (967-1) 255004
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
Established in 1948, subject is owned and managed by Mr Mohamed Hassan Al Kbous 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 and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure: US$ 200,000
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 |