MIRA INFORM REPORT
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Report Date : |
4th May 2006 |
IDENTIFICATION DETAILS
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Name : |
NEPAM
COMMERCIAL ENTERPRISES |
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Registered Office : |
Souq
Omdurman Street
No. 30, 1004 Omdurman, Sudan |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distributors of bicycles
and related spare parts. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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$
30,000 |
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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 |
NEPAM COMMERCIAL ENTERPRISES |
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Country of Origin |
Sudan |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1995 |
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Invested Capital |
SD 4,000,000 |
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Total Workforce |
9 |
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Line of Business |
Distributors of bicycles and related spare parts. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
NEPAM COMMERCIAL
ENTERPRISES
ADDRESS
Registered &
Physical Address
Location : Souq Omdurman
Street : Street No. 30
PO Box : 1004
Town : Omdurman
Country : Sudan
Telephone : (249-187) 574627 / 559174
Facsimile : (249-187) 572356
Email : nepam_sd@hotmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Omdurman.
KEY PRINCIPALS
Paradeep Kumar Proprietor
& General Manager
Hassan Ba Baker Assistant
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1995
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested Capital
: SD 4,000,000
Mr Paradeep Kumar
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, distribution and
retail of bicycles and related spare parts.
Import Countries
: China, India and South
Korea.
Operating Trend
: Steady
Subject has a
workforce of 9 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Sudanese
Dinars
Year Ending
31/12/04: Year Ending 31/12/05:
Total Revenue SD 22,850,000 SD 27,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
Tadamon Islamic
Bank
PO Box : 846
Omdurman
Tel : (249-187)
577330
Fax : (249-187)
555733
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 1,000,000
Established in
1995, subject is owned and managed by Mr Paradeep Kumar who is well respected
in the local business community.
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.
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent given the magnitude of the transaction.
Maximum suggested
credit figure: US$ 30,000
RATING EXPLANATIONS
RATING
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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 |