MIRA
INFORM REPORT
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Report Date : |
27th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL RAWDAM SALAM FOR TRADING |
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Registered Office : |
Shoub
Street, 2479 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 : |
1971 |
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Com. Reg. No.: |
20397, Sana’a |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuff products, spices, seeds and supermarket items. |
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 : |
EUR
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 |
AL RAWDAM SALAM FOR TRADING |
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Country of Origin |
Yemen |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1971 |
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Commercial Registration Number |
20397, Sana’a |
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Invested Capital |
YR 1,500,000 |
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Total Workforce |
8 |
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Line of Business |
Distributors of general foodstuff products, spices, seeds and supermarket items. |
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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
RAWDAM SALAM FOR TRADING
ADDRESS
Registered
& Physical Address
Location : Shoub Street
PO Box : 2479
Town : Sana’a
Country : Yemen
Telephone : (967-1) 282365 / 282412
Facsimile : (967-1) 232416
Mobile : (967-711) 277976
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Sana’a.
KEY PRINCIPALS
Mohamed
Mohamed Salah Proprietor
& General Manager
Abdul
Khaliq Mohamed Mohamed Salah Assistant
General Manager
LEGAL FORM & OWNERS
Date
of Establishment : 1971
Legal
Form : Mouassasa Khassa (Sole
Proprietorship)
Commercial
Reg. No. : 20397, Sana’a
Invested
Capital : YR 1,500,000
Mr
Mohamed Mohamed Salah 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 general foodstuff products, spices, seeds and
supermarket items.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 8 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 49,300,000 YR
54,200,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
United
Bank Ltd
PO Box :
1295
Sana’a
Tel :
(967-1) 272424 / 272425
Fax :
(967-1) 274168
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of EUR 50,000
Established
in 1971, subject is owned and managed by Mr Mohamed Mohamed Salah 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 business is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: EUR 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 |