MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
YEHIA SUHAIL BROS EST FOR TRADING & IMPORT |
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Registered Office : |
Tahrir Street, PO Box 4604,
Hodeidah |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1970 |
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Com. Reg. No.: |
3031,
Hodeidah |
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Legal Form : |
General
Partnership |
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Line of Business : |
Import and
Distribution of General Foodstuff |
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$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : YEHIA SUHAIL BROS EST
FOR TRADING & IMPORT
Country of Origin : Yemen
Legal Form :
General Partnership
Registration Date : 1970
Commercial
Registration Number : 3031, Hodeidah
Partners Capital : YR
1,500,000
Total Workforce : 15
Activities :
Import and distribution of general foodstuff
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 500,000
COMPANY NAME
YEHIA SUHAIL BROS EST FOR TRADING & IMPORT
ADDRESS
Registered & Physical Address
Location : Tahrir Street
PO Box : 4604
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 246322
/ 210452
Facsimile : (967-3) 204113
Email : ysb@y.net.ye
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Central Business Area of Hodeidah.
KEY PRINCIPALS
Name Position
· Yehia
Ali Suhail Managing
Partner
· Abdullah
Ali Suhail Partner
· Ahmed
Ali Suhail Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1970
Legal Form : General Partnership
Commercial Reg.
No. : 3031, Hodeidah
Partners Capital : YR 1,500,000
Name of Partner (s)
· Yehia
Ali Suhail
· Abdullah
Ali Suhail
· Ahmed
Ali Suhail
OPERATIONS
Activities: Engaged in the import and distribution of general
foodstuff, including rice, tea, sugar, tea, tuna, and milk powder.
Import Countries: India, Pakistan and Dubai, UAE.
International Suppliers:
· Cargill Dubai, UAE
Operating Trend: Steady
Subject has a workforce of 15 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales US$
53,000,000 US$ 58,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Tadhamon International Islamic Bank
Al Meena
Street
Hodeidah
Tel:
(967-3) 208844
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk.
The financial information in the report was given by Mr Ahmed Ali Suhail, Partner.
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%)