MIRA INFORM REPORT

Report Date :

24.07.2012

IDENTIFICATION DETAILS

Name :	AL MUHANISH STORES FOR TRADING

Registered Office :	Al Muhanish Building, Main Street, PO Box 87151, Dhamar

Country :	Yemen

Date of Incorporation :	01.02.1979

Com. Reg. No.:	9612009, Dhamar

Legal Form :	Sole Proprietorship

Line of Business :	Wholesalers and retailers of general foodstuff products

No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

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

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, 2011

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Yemen

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

SUMMARY

Company Name : AL MUHANISH STORES FOR TRADING

Country of Origin : Yemen

Legal Form : Sole Proprietorship

Registration Date : 1^st February 1979

Commercial Registration Number : 9612009, Dhamar

Invested Capital : YR 1,500,000

Total Workforce : 20

Activities : Wholesalers and retailers of general foodstuff products.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : Zakaria Yahya Muthana Al Muhanish, Sales Manager

COMPANY NAME

AL MUHANISH STORES FOR TRADING

ADDRESS

Registered & Physical Address

Building : Al Muhanish Building

Street : Main Street

PO Box : 87151

Town : Dhamar

Country : Yemen

Telephone : (967-6) 506666

Facsimile : (967-6) 507777

Email : almuhanish2@yahoo.com

Premises

Subject operates from a small suite of offices and a showroom that are owned and located in the Central Business Area of Dhamar.

Branch Office (s)

Location Description

Aden Rented showroom premises

KEY PRINCIPALS

Name Position

Mohamed Muthana Al Muhanish Proprietor & General Manager

Yahya Muthana Al Muhanish Assistant General Manager

Zakaria Yahya Muthana Al Muhanish Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 1^st February 1979

Legal Form : Sole Proprietorship

Commercial Reg. No. : 9612009, Dhamar

Invested Capital : YR 1,500,000

Mr Mohamed Muthana Al Muhanish is the sole proprietor of the business.

OPERATIONS

Activities: Engaged in the wholesale and retail of general foodstuff products, including rice, sugar, wheat, pulses,

cooking oil and canned foods. Subject also deals in fertilizers.

Import Countries: Europe and the Far East.

Subject has a workforce of 6 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

Crater Area

PO Box: 5

Aden

Tel: (967-2) 253753

Fax: (967-2) 252325

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.55.76
UK Pound	1	Rs.86.80
Euro	1	Rs.67.43

INFORMATION DETAILS

Report Prepared by :

SDA

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.