MIRA
INFORM REPORT
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Report Date : |
04.10.2007 |
IDENTIFICATION DETAILS
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Name : |
ARAAK FOOD
INDUSTRIES LTD |
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Registered Office : |
Plot 10/2, Block
6, Industrial Area, |
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Country : |
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Date of Incorporation : |
1992 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged as
bottlers of carbonated soft drinks. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ARAAK FOOD INDUSTRIES LTD
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 1992
Issued Capital : SD 20,000,000
Paid up Capital : SD 20,000,000
Total Workforce : 500
Line of Business : Bottlers of carbonated soft drinks.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ARAAK FOOD
INDUSTRIES LTD
ADDRESS
Registered & Physical Address
Location : Plot 10/2, Block 6
Area : Industrial Area,
PO Box : 732
Town :
Country :
Telephone : (249-185) 314151
Facsimile : (249-185) 325341 / 314153
Email : hashim.malik@araak.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Khartoum.
KEY PRINCIPALS
·
Hassan
Ibrahim Malik Managing
Director
·
Hashim
Hassan Ibrahim Malik Director
·
Hatim Hassan
Ibrahim Malik Director
LEGAL FORM &
OWNERS
Date of Establishment : 1992
Legal Form :
Limited Liability Company
Issued Capital : SD 20,000,000
Paid up Capital : SD 20,000,000
Name of Shareholder
(s)
·
Araak
Group
AFFILIATED
COMPANIES
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Medani
Food
PO Box : 416
Medani
Tel
: (249-511) 841014
Fax
: (249-511) 841018
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Industrial Area
Tel : (249-185) 318443
Fax
: (249-185) 318437
·
Wheata
Industrial
Area
Tel : (249-185) 320580
Fax
: (249-185) 320582
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Araak
Engineering
PO Box : 732
Tel : (249-183) 773987
Fax : (249-183) 776890
·
Araak
Development & Investment
PO
Box : 732
Tel : (249-183) 773987
Fax : (249-183) 776890
LINE OF BUSINESS
Operations : Engaged as bottlers of carbonated soft
drinks.
Import Countries
:
Brand Names : PEPSI
Subject has a workforce
of approximately 500 employees.
FINANCIAL
HIGHLIGHTS
Companies
registered in
BANKERS
·
Al Baraka
Bank
PO Box : 3583
Tel : (249-183) 783962 /
780688
Fax : (249-183) 778948
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 800,000:
Established in 1992,
subject is involved in the bottling of carbonated soft drinks and is the sole
bottler of Pepsi in
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$ 1,000,000
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%)