MIRA
INFORM REPORT
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Report Date : |
16.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
DEIDA
CORPORATION |
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Registered Office : |
University
Street, P. O. Box 11325, Sana’a |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import
and distribution of medical equipment and pharmaceuticals. |
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$
100,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DEIDA CORPORATION
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 1996
Invested Capital : YR 500,000
Total Workforce : 12
Line of Business : Distributors of medical equipment and pharmaceuticals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DEIDA
CORPORATION
ADDRESS
Registered & Physical
Address
Location : University Street
PO Box : 11325
Town : Sana’a
Country : Yemen
Telephone : (967-1) 278208 / 494321
Facsimile : (967-1) 283805
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Sana’a.
KEY PRINCIPALS
·
Mohamed
Ali Yahya Deida Proprietor
& General Manager
·
Hassan
Ali Yahya Deida Assistant
General Manager
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Abdul
Samad Mohamed Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : YR 500,000
Mr
Mohamed Ali Yahya Deida 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 medical equipment and pharmaceuticals.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 12 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 42,700,000 YR
45,500,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Bank of Yemen
Zubairy Street
PO Box 198309
Sana’a
Tel: (967-1) 284123
Fax: (967-1) 284128
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Established
in 1996, subject is owned and managed by Mr Mohamed Ali Yahya Deida 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 company is deemed a fair trade
risk and the above credit figure is considered 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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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