MIRA
INFORM REPORT
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Report Date : |
28th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ALGHOBRI FOR TRADING AND IMPORT |
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Registered Office : |
Al Tahreer Plaza, Bet Al Fagih 4506 Hodeidah Yemen |
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Country : |
Yemen |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
2601, Hodeidah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers of general foodstuff products, electrical household appliances and electronic products. |
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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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
ALGHOBRI FOR TRADING AND IMPORT |
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Country of Origin |
Yemen |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1990 |
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Commercial Registration Number |
2601, Hodeidah |
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Invested Capital |
YR 2,000,000 |
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Total Workforce |
8 |
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Line of Business |
Wholesalers and retailers of general foodstuff products, electrical household appliances and electronic products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ALGHOBRI FOR TRADING AND IMPORT
ADDRESS
Registered & Physical Address
Location : Al Tahreer Plaza, Bet Al Fagih
PO Box : 4506
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 246621 / 212574
Facsimile : (967-3) 248871
Email : alghobri@y.net.ye
Premises
Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Hodeidah.
Branch Office (s)
Location Description
Al Mansourah Area Rented showroom premises
Aden
Tel : (967-2) 350843
KEY PRINCIPALS
Ali Ahmed Alghobri Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1990
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 2601, Hodeidah
Invested Capital : YR 2,000,000
Mr Ali Ahmed Alghobri 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 general foodstuff products, electrical
household appliances and electronic products.
Import Countries : Europe and the Far East.
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 47,200,000 YR 52,100,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Saba Islamic Bank
Saif Bin Thi Yazan Street
PO Box : 11054
Sana’a
Tel : (967-1) 276337
Fax : (967-1) 286505
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
Established in 1990, subject is owned and managed by Mr Ali Ahmed Alghobri 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 and the above credit figure is deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 100,000
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 |