MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUDACHEM CO LTD |
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Registered Office : |
Al Shaikh
Abdullah Saad Abdullah Street, P O Box 3507, Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import and distribution of industrial chemicals and fertilizers. |
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 : SUDACHEM CO LTD
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 2003
Issued Capital : SD 500,000
Paid up Capital : SD 500,000
Total Workforce : 6
Line of Business : Distributors of industrial chemicals and fertilizers.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SUDACHEM CO LTD
ADDRESS
Registered & Physical Address
Location : Al Shaikh Abdullah Saad Abdullah
Street
PO Box : 3507
Town : Khartoum
Country : Sudan
Telephone : (249-183) 776388
Facsimile : (249-183) 782056
Email : rahim48@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Khartoum.
KEY PRINCIPALS
·
Dr Abdul Rahim
Abdulrahman Ibrahim Managing
Director
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Abdul Rahman
Ibrahim Director
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Hanan Ibrahim Administration
Manager
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Faisal Mohamed
Ali Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2003
Legal Form :
Limited Liability Company
Issued Capital : SD 500,000
Paid up Capital : SD 500,000
Name of Shareholder (s)
·
Dr Abdul Rahim
Abdulrahman Ibrahim
·
Abdul Rahman
Ibrahim
AFFILIATED COMPANIES
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Riham
International Co Ltd
PO Box : 3507
Khartoum
Tel : (249-183) 776388
Fax : (249-183) 782056
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
industrial chemicals and fertilizers.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of 6 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.
BANKERS
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Islamic
Co-operative Development Bank
PO Box : 62
Khartoum
Tel : (249-183) 780505
Fax : (249-183) 777715
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2003, subject is owned and managed by Dr Abdul Rahim Abdulrahman Ibrahim and
his brother, Mr Abdul Rahman Ibrahim who are both well respected in the local
business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed 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%)