MIRA INFORM REPORT

 

 

Report Date :

07.10.2011

 

IDENTIFICATION DETAILS

 

Name :

ASHARQ MASAOOD INTERNATIONAL (AMI)

 

 

Registered Office :

No. 13, 12 St of Algiers Street PO Box 2187 Sana’a

 

 

Country :

Yemen

 

 

Date of Incorporation :

10.02.1992

 

 

Com. Reg. No.:

632, Sana’a

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Distributors of gas and oilfield equipment, electrical supplies, telecommunications equipment, machinery and spare parts.

 

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$ 150,000

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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                         : ASHARQ MASAOOD INTERNATIONAL (AMI)

Country of Origin                                    : Yemen

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 10th February 1992

Commercial Registration Number            : 632, Sana’a

Chamber Membership Number                : 73

Invested Capital                                     : YR 3,000,000

Total Workforce                                     : 25

Activities                                               : Distributors of gas and oilfield equipment, electrical supplies,

                                                            telecommunications equipment, machinery and spare parts.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

 

 

COMPANY NAME

 

 ASHARQ MASAOOD INTERNATIONAL (AMI)

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : No. 13, 12 St of Algiers Street

 

PO Box             : 2187

 

Town                 : Sana’a

Country             : Yemen

 

Telephone         : (967-1) 448111 / 448112 / 448113

Facsimile          : (967-1) 448200

Email                : ami98sal@amiyemen.com / ahothman-ami@y.net.ye

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Suburban Business Area of Sana’a.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ahmed Abdul Ghawi Othman Al Joufi                                                  Proprietor & General Manager

 

·       Magdi Raja Marouf                                                                            Assistant General Manager

 

·       Sami Diralim                                                                                     Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 10th February 1992

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 632, Sana’a

 

Chamber Member No. : 73

 

Invested Capital           : YR 3,000,000

 

Mr Ahmed Abdul Ghawi Othman Al Joufi is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of gas and oilfield equipment, electrical supplies,

     telecommunications equipment, machinery and spare parts.

 

                 Subject also provides project, tendering and logistics services.

 

Import Countries: Europe and the United States of America.

 

International Suppliers:

 

·       Flare Industries Inc                United States of America

·       Creximco                              United States of America

·       Uvex Arbeitsschutz GmbH     Germany

 

Subject has a workforce of 25 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

 

·       National Bank of Yemen

     Zubairy Street

     PO Box: 198309

     Sana’a

     Tel: (967-1) 284123

       Fax: (967-1) 284128

 

 

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.49.19

UK Pound

1

Rs.75.92

Euro

1

Rs.65.44

 

 

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.