MIRA
INFORM REPORT
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Report Date : |
25.09.2007 |
IDENTIFICATION DETAILS
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Name : |
ABU ALAM MILLS
FOR OIL & PLASTIC |
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Registered Office : |
Industrial Area, |
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Country : |
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Date of Incorporation : |
October 2006 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
manufacture of plastic containers and bottles. |
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 : ABU ALAM MILLS FOR OIL & PLASTIC
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : October 2006
Invested Capital : SD 5,000,000
Total Workforce : 25
Line of Business : Manufacturers of plastic containers and bottles.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ABU ALAM MILLS FOR
OIL & PLASTIC
ADDRESS
Registered & Physical Address
Location : Industrial Area
PO Box : 608
Town :
Country :
Telephone : (249-187) 453364 / 558996
Facsimile : (249-187) 558996
Premises
Subject operates
from a small suite of offices and a factory that are rented and located in the
Industrial Area of Khartoum.
KEY PRINCIPALS
·
Nagi
Adib Alam Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : October 2006
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Invested Capital
: SD 5,000,000
Mr Nagi Adib Alam 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 manufacture of plastic
containers and bottles.
Import Countries
: Europe and the
Subject has a
workforce of 25 employees.
FINANCIAL
HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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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$ 2,000,000:
Investigations
undertaken in Khartoum did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
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. |
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%)