MIRA
INFORM REPORT
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Report Date : |
22.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MAMARI FOR TEXTILE AND READY MADE CLOTHES TRADING |
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Registered Office : |
Al Tahrir Street, Taiz |
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Country : |
Yemen |
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Financials (as on) : |
31/12/2007 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of ready made garments and cloth. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MAMARI FOR TEXTILE AND READY MADE CLOTHES TRADING
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 1997
Invested Capital : YR 2,000,00
Total Workforce : 5
Line of Business : Wholesale and retail of ready made garments and cloth.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL MAMARI FOR TEXTILE AND READY MADE CLOTHES TRADING
ADDRESS
Registered & Physical Address
Location : Al Tahrir
Street
Town : Taiz
Country : Yemen
Telephone : (967-4) 235133
Facsimile : (967-4) 235133
Mobile : (967-7)
11527034
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Taiz.
KEY PRINCIPALS
· Ali Mohamed Saeed
Al Mamari Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1997
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Invested Capital : YR 2,000,000
Mr Ali Mohamed Saeed Al Mamari 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
wholesale and retail of ready made garments and cloth.
Import Countries : Saudi
Arabia, Pakistan, and India.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Yemeni Riyal (YR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue YR
47,800,000 YR
51,250,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
· Yemen Commercial
Bank
PO Box: 4122
Taiz
Tel: (967-4)
232821-4
Fax: (967-4)
231139
Email: ycbtaizcity@y.net.ye
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk.
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%)