MIRA
INFORM REPORT
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Report Date : |
28th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL DUIS TRADING CO |
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Registered Office : |
Al Tahrir Streetm, 55914 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 : |
1994 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesalers and retailers of textiles,
fabrics and sewing machines. |
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 |
AL DUIS TRADING CO |
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Country of Origin |
Yemen |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
1994 |
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Issued Capital |
YR 1,500,000 |
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Paid up Capital |
YR 1,500,000 |
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Total Workforce |
8 |
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Line of Business |
Wholesalers and retailers of textiles, fabrics and sewing machines. |
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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 DUIS TRADING CO
ADDRESS
Registered & Physical Address
Location : Al Tahrir Street
PO Box : 55914
Town : Taiz
Country : Yemen
Telephone : (967-4) 235372
Facsimile : (967-4) 235372 / 235332
Email : abubaker11@yahoo.com
Premises
Subject operates from a small suite of offices showroom that are rented and located in the Central Business Area of Taiz.
KEY PRINCIPALS
Abu Baker Abdullah Saif Al Duis Managing Partner
Abdul Hafiz Abdullah Saif Al Duis Partner
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form : Limited Liability Partnership
Issued Capital : YR 1,500,000
Paid up Capital : YR 1,500,000
Name of Partner (s)
Abu Baker Abdullah Saif Al Duis
Abdul Hafiz Abdullah Saif Al Duis
Note to the Legal Form
A Limited Liability Partnership is defined in the Company Law as a company incorporated with not less than two, and no more than fifty partners, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company. Shares must not be issued in the form of negotiable shares or papers. The legal concepts adopted by the Company Law refer to the members of this type of company as “partners” and not as “shareholders”. This type of company is quite similar to a private company limited by shares that exists in English Law.
LINE OF BUSINESS
Operations :
Engaged in the wholesale and retail of textiles, fabrics and sewing machines.
Import Countries : Europe and the Far East.
International Suppliers :
Zahani China
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 41,800,000 YR 44,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Arab Bank Plc
Jamal Abdul Nasser Street
PO Box : 5234
Taiz
Tel : (967-4) 231523
Fax : (967-4) 212347
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1994, subject is involved in the wholesale and retail of textiles, fabrics and sewing machines.
Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business 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 |