MIRA
INFORM REPORT
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Report Date : |
26.09.2007 |
IDENTIFICATION DETAILS
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Name : |
ALSAFA SPONGE
& PLASTIC FACTORY |
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Registered Office : |
Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the manufacture of plastic shopping bags and plastic
footwear. |
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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ALSAFA SPONGE & PLASTIC FACTORY
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1991
Invested Capital : SD 2,500,000
Total Workforce : 45
Line of Business : Manufacturers of plastic shopping bags and plastic footwear.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ALSAFA SPONGE &
PLASTIC FACTORY
ADDRESS
Registered & Physical Address
Location : Industrial
Area
PO Box : 379
Town :
Country :
Telephone : (249-187) 560367
Facsimile : (249-187) 570850
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Omdurman.
KEY PRINCIPALS
·
Hamed
Al Berier Proprietor
& General Manager
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Shrez
Hamed Al Berier Assistant
General Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 1991
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Invested Capital : SD 2,500,000
Mr Hamed Al Berier
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 shopping
bags and plastic footwear.
Import Countries : Europe and the
Operating Trend : Steady
Subject has a workforce of 45 employees.
FINANCIAL
HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Sudanese Dinars (SD)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Tadamon Islamic Bank
PO Box :
846
Tel :
(249-187) 577330
Fax :
(249-187) 555733
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 1,000,000:
Established in 1991, subject is involved in the manufacture of plastic
shopping bags and plastic footwear.
The above credit figure is higher than transactions previously seen and
a measure of caution would be prudent.
Maximum suggested credit figure: US$ 350,000
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%)