MIRA INFORM REPORT
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Report Date : |
11th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AMIN
ABDUL GALIL SAID NOMAN |
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Registered Office : |
Al Tahrir Al Ala 5019, Taiz Yemen |
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Date of Incorporation : |
13th
April 1980 |
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Com. Reg. No.: |
40641,
Taiz |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesalers and retailers
of electrical products and related accessories. |
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$ 50,000 |
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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 |
AMIN ABDUL GALIL SAID NOMAN |
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Country of Origin |
Yemen |
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Legal Form |
Sole Proprietorship |
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Registration Date |
13th April 1980 |
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Commercial Registration Number |
40641, Taiz |
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Membership |
1057 |
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Invested Capital |
YR 2,800,000 |
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Total Workforce |
5 |
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Line of Business |
Wholesalers and retailers of electrical products and related accessories. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AMIN ABDUL GALIL SAID NOMAN
ADDRESS
Registered & Physical Address
Location : Al Tahrir Al Ala
PO Box : 5019
Town : Taiz
Country : Yemen
Telephone : (967-4) 253396
Facsimile : (967-4) 253397
Mobile : (967-77) 016086
Premises
Subject operates from a small suite of offices and a warehouse that are owned and located in the Central Business Area of Taiz.
KEY PRINCIPALS
Amin Abdul Galil Said Noman Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 13th April 1980
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 40641, Taiz
Membership No. : 1057
Invested Capital : YR 2,800,000
Mr Amin Abdul Galil Said Noman 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
electrical products and related accessories.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 5 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 30,800,000 YR 34,600,000
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 1980, subject is involved in the wholesale
and retail of electrical products and related accessories.
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$ 50,000
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 |