MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL ABRAJ TRADING AND GENERAL CONTRACTING CO LTD |
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Registered Office : |
Ring
Road South, Al Safya Area, PO Box 16976, Sana’a |
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Country : |
Yemen |
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Year of Establishment : |
1990 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of water pumps, power generators and diesel engines, agricultural tractors, air compressors and sanitary ware 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL ABRAJ TRADING AND GENERAL CONTRACTING CO LTD
Country of Origin : Yemen
Legal Form : Limited Liability Partnership
Registration Date : 1990
Issued Capital : YR 2,000,000
Paid up Capital : YR 2,000,000
Total Workforce : 40
Activities : Import and distribution of water pumps, power generators and diesel
engines, agricultural tractors, air compressors and sanitary ware products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL ABRAJ TRADING AND
GENERAL CONTRACTING CO LTD
ADDRESS
Registered &
Physical Address
Street : Ring
Road South
Area : Al
Safya Area
PO Box : 16976
Town : Sana’a
Country : Yemen
Telephone : (967-1) 265341 / 500985 / 243715
Facsimile : (967-1) 500987
Email : info@alabrajcom.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Sana’a.
KEY PRINCIPALS
Name Position
·
Hassan
Abdo Jaid Managing
Partner
·
Abdo
Hassan Abdo Jaid Partner
·
Jaid
Hassan Abdo Jaid Partner
·
Ms
Saba Ali Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1990
Legal Form :
Limited Liability
Partnership
Issued Capital : YR 2,000,000
Paid up Capital : YR 2,000,000
Name of Partner (s)
·
Hassan
Abdo Jaid
·
Abdo
Hassan Abdo Jaid
·
Jaid
Hassan Abdo Jaid
AFFILIATED COMPANIES
·
Jaid &
Masood Co
Sana’a
Yemen
·
Al
Ahram Electrical Co
Sana’a
Yemen
OPERATIONS
Activities: Engaged in the import and distribution of
water pumps, power generators and diesel engines, agricultural tractors, air
compressors and sanitary ware products.
Import
Countries: United Kingdom,
Germany, Italy and India
Subject has a
workforce of 40 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
·
Yemen
Commercial Bank
Taiz Street
PO Box: 20106
Sana’a
Tel: (967-1) 618299 / 615876 / 616471-5
Fax: (967-1) 615875
Email: ycbstz@y.net.ye
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)