MIRA INFORM REPORT

Report Date :

15.11.2011

IDENTIFICATION DETAILS

Name :	DADIAH GENERAL TRADING
Registered Office :	Dadiah Street, P O Box 87203, Thamar City
Country :	Yemen
Date of Incorporation :	01.01.1978
Legal Form :	Sole Proprietorship
Line of Business :	Subject operates through divisions Foodstuff Division and Pharmaceutical Division

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 250,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
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 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Yemen	b2	b2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : DADIAH GENERAL TRADING

Country of Origin : Yemen

Legal Form : Sole Proprietorship

Start Date : 1970

Registration Date : 1^st January 1978

Chamber Membership Number : 2

Invested Capital : YR 10,000,000

Total Workforce : 250

Activities : Subject operates several divisions (see below for details)

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 250,000

COMPANY NAME

DADIAH GENERAL TRADING

Company ADDRESS

Registered & Physical Address

Location : Dadiah Street

PO Box : 87203

Town : Thamar City

Country : Yemen

Telephone : (967-6) 505050/ 502211/ 501111

Facsimile : (967-6) 502666

Email : import@dadiah.com.ye

Premises

Subject operates from a large suite of offices and a warehouse that are rented and located in the Suburban Business Area of Thamar City.

KEY PRINCIPALS

Name Position

· Mohamed Abdo Dadiah Proprietor & General Manager

· Mohamed Mohamed Abdo Dadiah Assistant General Manager

· Ibrahim Mohamed Abdo Dadiah Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 1970, however subject was registered on 1^st January 1978

Legal Form : Sole Proprietorship

Chamber Member No. : 2

Invested Capital : YR 10,000,000

Mr Mohamed Abdo Dadiah is the sole proprietor of the business.

OPERATIONS

Activities: Subject’s operations are performed through the following divisions:

· Foodstuff Division

Engaged in the import and distribution of general foodstuffs, including pulses and spices.

· Pharmaceutical Division

Engaged in the import and distribution of pharmaceuticals.

Import Countries: Europe and the Far East.

Subject has a workforce of approximately 250 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

PO Box: 4230

Aden

Tel: (967-2) 255183 / 253384

Fax: (967-2) 255428

· Tadamon International Islamic Bank

Al Mualla District

Aden

Tel: (967-2) 240536

Fax: (967-2) 240520

· Yemen Bank For Reconstruction & Development

Al Saeeda Branch

PO Box: 239

Aden

Tel: (967-2) 256859 / 254046

Fax: (967-2) 252141

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 business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.85
UK Pound	1	Rs.80.36
Euro	1	Rs.68.83

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.