MIRA INFORM REPORT
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Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
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Name : |
AHMED ABUBAKER MOHAMED ISMAIL |
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Registered Office : |
Al Soor Al Kadim
Street, Al Souq Area, P O Box 3736,
Hodeidah |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.07.1978 |
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Com. Reg. No.: |
1068, Hodeidah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail of general foodstuff products and beverages |
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No. of Employees
: |
5 persons |
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 |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Yemen |
b2 |
b2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : AHMED ABUBAKER MOHAMED ISMAIL
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 29th July 1978
Commercial Registration Number : 1068, Hodeidah
Invested Capital : YR 2,000,000
Total Workforce : 5
Activities : Wholesale and retail of general foodstuff products and beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
AHMED ABUBAKER MOHAMED ISMAIL
company ADDRESS
Registered &
Physical Address
Street : Al Soor Al Kadim Street
Area : Al Souq Area
PO Box : 3736
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 222144
Facsimile : (967-3) 245570
Mobile : (967-77) 7146942 / 7146940 /
35344590 / (967-71) 752233
Email : abuco@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
·
Ahmed
Abubaker Mohamed Ismail Proprietor
& General Manager
·
Marwan
Mohamed Ismail Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
July 1978
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1068,
Hodeidah
Invested Capital
: YR 2,000,000
Mr Ahmed Abubaker
Mohamed Ismail is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff products and beverages.
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 31/12/09: Year
Ending 31/12/10:
Total Sales YR 247,000,000 YR 253,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Islamic
Bank of Yemen for Finance and Investment
Main Branch
Hodeidah
·
Saba
Islamic Bank
Sana’a Street
PO Box: 3459
Hodeidah
Acc No. 30904
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1978, subject is owned and managed by Mr Ahmed Abubaker Mohamed Ismail who is
well respected in the local business community.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
UK Pound |
1 |
Rs.82.73 |
|
Euro |
1 |
Rs.68.88 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.