MIRA
INFORM REPORT
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Report Date : |
18th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
EL HASEHESA TRADING SERVICES ENTERPRISES |
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Registered Office : |
Abdeen
Station, Arbaeen Avenue, Omdurman, Sudan |
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Country : |
Sudan |
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Date of Incorporation : |
1997 |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer
and Distributors of bearings, nuts, bolts and general
hardware. |
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
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Company Name |
EL HASEHESA TRADING SERVICES ENTERPRISES |
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Country of Origin |
Sudan |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1997 |
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Invested Capital |
SD 2,500,000 |
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Total Workforce |
8 |
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Line of Business |
Distributors of bearings, nuts, bolts and general hardware. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
EL
HASEHESA TRADING SERVICES ENTERPRISES
ADDRESS
Registered & Physical Address
Location : Abdeen Station
Street : Arbaeen Avenue
Town : Omdurman
Country : Sudan
Telephone : (249-187) 561800
Facsimile : (249-187) 561795
Mobile : (249-912) 307935
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Omdurman.
KEY PRINCIPALS
·
Mohamed
Said Sir El Khatim Proprietor
& General Manager
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Zahir
Awad Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1997
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : SD 2,500,000
Mr
Mohamed Said Sir El Khatim 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.
AFFILIATED COMPANIES
·
El
Hasehesa Factory
Omdurman
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of bearings, nuts, bolts and general hardware.
Import
Countries :
India
Operating
Trend : Steady
Subject
has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Sudanese Dinars (SD)
Year Ending
31/12/04 : Year
Ending 31/12/05 :
Total
Revenue SD 53,600,000 SD
59,200,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Farmers
Commercial Bank
PO Box : 899
Omdurman
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1997, subject is owned and managed by Mr Mohamed Said Sir El Khatim 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.
Maximum
suggested credit figure of: 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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