MIRA
INFORM REPORT
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Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
HUSSAM OMER MOHAMED AL ZUBAIDI |
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Registered Office : |
Building No. 144, Block No. 92, Al Shorta Station Street, Aden |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesaler and Retailer of General Foodstuff Products and
Spices. |
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 : HUSSAM OMER MOHAMED AL ZUBAIDI
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 1994
Invested Capital : YR 2,000,000
Total Workforce : 5
Activities : Wholesale and retail of general foodstuff products and spices.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
HUSSAM OMER MOHAMED AL ZUBAIDI
ADDRESS
Registered & Physical Address
Location : Building No. 144, Block No. 92
Area : Al Shorta Station Street
Town : Aden
Country : Yemen
Telephone : (967-2) 309274
Facsimile : (967-2) 309274
Mobile : (967-777)
123490 / 388615
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Aden.
KEY PRINCIPALS
Name Position
· Hussam Omer
Mohamed Al Zubaidi Proprietor
& General Manager
· Hani
Omer Mohamed Al Zubaidi Assistant
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1994
Legal Form : Sole
Proprietorship
Invested Capital : YR 2,000,000
Mr Hussam Omer Mohamed Al Zubaidi is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale and retail of general foodstuff products and
spices.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 5 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Yemeni Riyal (YR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales YR
54,100,000 YR
57,850,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
National Bank of Yemen
PO Box : 5
Aden
Tel : (967-2)
252481
Fax : (967-2)
252974
· Islamic Bank of Yemen
for Finance and Investment
Mareb
Insurance Co Building
Zubairy
Street
PO Box:
18452
Sana’a
Tel:
(967-1) 206117 / 205680 / 205683 / 205684
Fax:
(967-1) 206116
Email: ibr-iflbk-yesan@y.net.ye
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction August
2006
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US Dollars
GENERAL COMMENTS
Established in 1994, subject is owned and managed by Mr Hussam Omer
Mohamed Al Zubaidi who is 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 business is
deemed a fair trade risk.
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%)