MIRA
INFORM REPORT
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Report Date : |
30.06.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
MARWAN TRADING STORE |
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Registered Office : |
Main Street, PO
Box 3916, Hodeidah |
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Country : |
Yemen |
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Date of Incorporation : |
1968 |
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Com. Reg. No.: |
311/92, Hodeidah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import, Wholesale and Retail of Spices,
Herbs and Foodstuff |
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$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MARWAN TRADING STORE
Also Known As : ABDUL WAHAB ABDULLATIF RASHID
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 1968
Commercial Registration Number : 311/92, Hodeidah
Invested Capital : YR 50,000
Total Workforce : 6
Activities : Import, wholesale and retail of spices, herbs and foodstuff
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
MARWAN TRADING
STORE
ALSO KNOWN AS
ABDUL
WAHAB ABDULLATIF RASHID
ADDRESS
Registered & Physical Address
Location : Main Street
PO Box : 3916
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 245197
Facsimile : (967-3) 247721
Mobile : (967-50) 777762197
Email : marwanco@y.net.ye
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Hodeidah.
KEY PRINCIPALS
Name Position
·
Abdul
Wahab Abdullatif Rashid Proprietor
& General Manager
·
Abdullatif
Abdul Wahab Abdullatif Rashid Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1968
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 311/92, Hodeidah
Invested Capital
: YR 50,000
Mr Abdul Wahab Abdullatif Rashid is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the import, wholesale and retail
of spices, herbs and foodstuff.
Import
Countries: India and China
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Companies
registered in Yemen are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
International
Bank of Yemen
Al Meena Street
Hodeidah
Tel: (967-3) 204400
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.
Please note that
the correct name of the subject as confirmed by the owner, Mr Abdul Wahab Abdullatif Rashid, is “Marwan Trading Store”.
When questioned about the name you provided (Hattam Saleh Hussain Al Hakami) he
claimed they sometimes import goods under this name but the business is
registered as in our report.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.95 |
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UK Pound |
1 |
Rs.85.62 |
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Euro |
1 |
Rs.67.81 |
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%)