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Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
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Name : |
JASSAR FOR TRADING |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.01.1992 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs |
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No. of Employees : |
08 employees |
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Yemen |
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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 |
Yemen - ECONOMIC OVERVIEW
Yemen is a low income country that is highly dependent on declining oil resources for revenue. Petroleum accounts for roughly 25% of GDP and 70% of government revenue. Yemen has tried to counter the effects of its declining oil resources by diversifying its economy through an economic reform program initiated in 2006 that is designed to bolster non-oil sectors of the economy and foreign investment. In October 2009, Yemen exported its first liquefied natural gas as part of this diversification effort. In January 2010, the international community established the Friends of Yemen group that aims to support Yemen's efforts toward economic and political reform, and in August 2010 the IMF approved a three-year $370 million program to further this effort. Despite these ambitious endeavors, Yemen continues to face difficult long term challenges, including declining water resources and a high population growth rate.
|
Source : CIA |
Company Name : JASSAR FOR TRADING
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 16th January 1992
Invested Capital : YR 1,000,000
Total Workforce : 8
Activities : Distributors of general foodstuffs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
JASSAR FOR TRADING
Registered &
Physical Address
Street : Shamala Street
Area : Wadi Daher, Al Shamlan Area
Town : Sana’a
Country : Yemen
Telephone : (967-1) 383858
Facsimile : (967-1) 383882
Mobile : (967-77) 7107711
Email : moh.jassa4@yahoo.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Sana’a.
Name Position
·
Mohamed
Abdullah Jassar Proprietor
& General Manager
·
Anwar
Al Kobadi Sales
Manager
Date of Establishment : 16th
January 1992
Legal Form :
Sole Proprietorship
Invested Capital : YR 1,000,000
Mr Mohamed Abdullah
Jassar is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuffs, including rice, spices and pulses.
Import Countries: India
International
Suppliers:
·
B D
Overseas India
·
R B Ltd India
Operating Trend: Steady
Subject has a
workforce of 8 employees.
Financial
highlights provided by local sources are given below:
Currency: Yemeni
Riyal (YR)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales YR 71,280,000 YR 73,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Yemen
Zubairy Street
PO Box: 198309
Sana’a
Tel: (967-1) 284123
Fax: (967-1) 284128
No complaints
regarding subject’s payments have been reported.
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.54.95 |
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UK Pound |
1 |
Rs.88.42 |
|
Euro |
1 |
Rs.71.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.