MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
ABBARCI
ENIGINEERING COMPANY LIMITED |
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Registered Office : |
Industrial Zone,
Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
1973 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import and distribution of heavy duty vehicles, truck accessories and spare
parts. |
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 : |
EUR 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ABBARCI ENIGINEERING COMPANY LIMITED
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 1973
Issued Capital :
SD 2,000,000
Paid up Capital : SD 2,000,000
Total Workforce : 85
Line of Business : Distributors of heavy duty vehicles, truck accessories and spare parts
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ABBARCI
ENIGINEERING COMPANY LIMITED
ADDRESS
Registered & Physical Address
Location : Industrial Zone
Town : Khartoum
Country : Sudan
Telephone : (249-183)
571359 / 571360
Facsimile : (249-183)
471966
Mobile : (249-912)
312660
Email : abbarci@abbarci.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Khartoum.
KEY PRINCIPALS
·
Ali Mohamed Al
Hassan Abbarci Chairman
·
Abdel Salam
Abbarci Managing Director
·
Dr Moosa
Mohamed Ali General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1973
Legal Form :
Limited Liability Company
Issued Capital : SD 2,000,000
Paid up Capital : SD 2,000,000
Name of Shareholder (s)
·
Ali Mohamed Al
Hassan Abbarci
·
Abdel Salam
Abbarci
AFFILIATED COMPANIES
Subject is a member of the Abbarci group of companies that consists of
the following concerns:
·
Abbarci
Petroleum Company
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Abbarci
Agriculture Company
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Abbarci
Transport Company
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Abbarci
Industry
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Abbarci
Factory
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Abbarci
Tourism
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
heavy duty vehicles, truck accessories and spare parts.
Import Countries
: Europe and the Far East.
Agencies Held :
·
IVECO
·
KUMHO
Brand Names: FORD,
UNIC, FIAT and LANCIA.
Subject has a
workforce of 85 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Sudan are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
National Bank
of Sudan
PO Box : 1183
Khartoum
Tel
: (249-183) 789410
Fax
: (249-183) 779545
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of EUR 200,000:
Established in
1973, subject is involved in the import and distribution of heavy duty
vehicles, truck accessories and spare parts.
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 admissible.
Maximum suggested
credit figure: EUR 200,000
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. |
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)