MIRA
INFORM REPORT
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Report Date : |
28.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTRIAL DEVELOPMENT BANK |
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Registered Office : |
Street No 15, Emarat, New Extension, Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Provision of Investment and Commercial Banking Services |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : INDUSTRIAL DEVELOPMENT BANK
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 2007
Issued Capital : US$ 350,000,000
Paid up Capital : US$ 350,000,000
Total Workforce : 100
Line of Business : Provision of investment and commercial banking services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
INDUSTRIAL DEVELOPMENT BANK
ADDRESS
Registered & Physical Address
Location : Street No 15, Emarat, New Extension
Town : Khartoum
Country : Sudan
Telephone : (249-183) 472151
Facsimile : (249-183) 472151
Mobile :
(249-912) 972753 / 112090
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Khartoum.
KEY PRINCIPALS
· Ahmed Mohamed Ali
Hassan General
Manager
· Mukhtar
Hassan Public
Relations Manager
· Emam
Mohamed Farah Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2007
Legal Form : Limited Liability
Company
Issued Capital : US$ 350,000,000
Paid up Capital : US$ 350,000,000
Name of Shareholder (s) Percentage
· Ministry of
Finance and National Economy 75%
· Bank of Sudan 25%
LINE OF BUSINESS
Operations: Engaged in the provision of investment and commercial banking services.
Subject has a workforce of approximately 100 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Sudan are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
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 company is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 200,000
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%)