MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
DUBAI STEEL MANUFACTURING FACTORY |
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Registered Office : |
Plot No. 2774
& 2775, Area 35/C, South Industrial Area, Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of Steel Bars And 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$ 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 : DUBAI STEEL MANUFACTURING FACTORY
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 2005
Issued Capital : SD 1,500,000
Paid up Capital : SD 1,500,000
Total Workforce : 150
Activities : Manufacture of steel bars and products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAMe
DUBAI STEEL
MANUFACTURING FACTORY
ADDRESS
Registered & Physical Address
Location : Plot No. 2774 & 2775, Area
35/C, South Industrial Area
Town : Khartoum
Country : Sudan
Telephone : (249-155) 120222 / 121318
Facsimile : (249-155) 131319
Mobile : (249-911) 166986 / (249-912)
394515
Email : dsteel_sudan@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Khartoum.
KEY PRINCIPALS
Name Nationality Position
·
Farah
Abdul Majeed Farah Sudanese Managing
Director
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Mohamed
Abdulrahman Sudanese Director
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Hassan
Zakat Lebanese Director
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Anwaru
Zaman Bangladeshi Director
·
Abdul
Raouf Saleh Lazim - General
Manager
·
Mohamed
Anis Al Rahman - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
(Production started in late 2006)
Legal Form :
Limited Liability Company
Issued Capital : SD 1,500,000
Paid up Capital : SD 1,500,000
Name of Shareholder (s)
·
Farah
Abdul Majeed Farah
·
Mohamed
Abdulrahman
·
Hassan
Zakat
·
Anwaru
Zaman
OPERATIONS
Activities: Engaged in the manufacture of steel bars
and products.
Import
Countries: Japan, China and
India
Subject has a
workforce of approximately 150 employees.
FINANCIAL DATA
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
·
Bank of
Khartoum
PO Box 1008
Khartoum
Tel: (249-15) 6660000
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.
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%)