MIRA
INFORM REPORT
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Report Date : |
08.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AWADI TRADING & INVESTMENT CO LTD |
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Registered Office : |
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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.: |
4431, Hodeidah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importer and Distributor of General Foodstuff and Grocery Products. |
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$ 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AWADI TRADING &
INVESTMENT CO LTD
Country of Origin :
Yemen
Legal Form :
Limited Liability Company
Registration Date :
1970
Commercial Registration Number :
4431, Hodeidah
Issued Capital :
YR 1,500,000
Paid up Capital :
YR 1,500,000
Total Workforce :
8
Line of Business :
Import and distribution of general foodstuff and
grocery products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
AL AWADI TRADING & INVESTMENT CO LTD
ADDRESS
Registered & Physical Address
PO Box : 3798
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 224634
Facsimile : (967-3) 229429
Mobile : (967-73) 4999996
Premises
Subject operates from a small suite of offices, a warehouse and showroom
that are rented and located in the Suburban Business Area of Hodeidah.
KEY PRINCIPALS
· Abdulrahman
Abdulrahman Ali Al Awadi Managing
Director
· Fahd
Abdulrahman Ali Al Awadi Director
LEGAL FORM & OWNERS
Date of
Establishment : 1970
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 4431, Hodeidah
Issued Capital : YR 1,500,000
Paid up Capital : YR 1,500,000
Name of Shareholder (s)
· Abdulrahman
Abdulrahman Ali Al Awadi
· Fahd
Abdulrahman Ali Al Awadi
LINE OF BUSINESS
Operations: Engaged in the import and distribution of
general foodstuff and grocery products.
Import Countries: India, East Africa and Saudi Arabia.
Operating Trend: Steady
Subject has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Currency : Yemeni Riyal (YR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue YR
65,900,000 YR
73,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
· Yemen Commercial
Bank
PO Box: 4894
Hodeidah
Tel: (967-3) 217040-3
Fax: (967-3) 211883
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$ 80,000
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%)