MIRA INFORM REPORT
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Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
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Name : |
AL DUIS TRADING CO |
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Registered Office : |
Al Tahrir Street,
P O Box 55914, Taiz |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1994 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesalers and retailers of textiles and fabrics for men’s clothing and sewing machines |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Yemen |
b2 |
b2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : AL DUIS TRADING CO
Country of Origin : Yemen
Legal Form : Limited Liability Partnership
Registration Date : 1994
Issued Capital : YR 1,500,000
Paid up Capital : YR 1,500,000
Total Workforce : 12
Activities : Wholesalers and retailers of textiles and fabrics for men’s clothing and
sewing machines.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Riyad Mohamed, Sales Manager
COMPANY NAME
AL DUIS TRADING CO
Company
ADDRESS
Registered &
Physical Address
Location : Al Tahrir Street
PO Box : 55914
Town : Taiz
Country : Yemen
Telephone : (967-4) 235372
Facsimile : (967-4) 235372 / 235332 / 278689
Mobile : (967-77) 7443225
Email : abubaker11@yahoo.com
Premises
Subject operates
from a small suite of offices and showroom that are rented and located in the
Central Business Area of Taiz.
KEY PRINCIPALS
Name Position
·
Abu
Baker Abdullah Saif Al Duis Managing
Partner
·
Abdul
Hafiz Abdullah Saif Al Duis Partner
·
Akram
Abdullah Saif Al Duis General
Manager
·
Riyad
Mohamed Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Limited Liability
Partnership
Issued Capital : YR 1,500,000
Paid up Capital : YR 1,500,000
Name of Partner
(s)
·
Abu
Baker Abdullah Saif Al Duis
·
Abdul
Hafiz Abdullah Saif Al Duis
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles and fabrics for men’s clothing and sewing machines.
Import
Countries: Europe and the
Far East.
International
Suppliers:
·
Zahani China
Operating Trend: Steady
Subject has a
workforce of 12 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 58,600,000 YR 59,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Arab Bank
Plc
Jamal Abdul Nasser Street
PO Box: 5234
Taiz
Tel: (967-4) 231523
Fax: (967-4) 212347
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.89 |
|
UK Pound |
1 |
Rs.75.31 |
|
Euro |
1 |
Rs.65.64 |
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 |
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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 |
|
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 |
|
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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.