MIRA INFORM REPORT

 

 

Report Date :

30.06.2012

 

IDENTIFICATION DETAILS

 

Name :

DERHIM INDUSTRIAL COMPANY LTD (DICO)

 

 

Registered Office :

Sana Street Al Marawah Area PO Box3667 Hodeidah

 

 

Country :

Yemen

 

 

Date of Incorporation :

24.04.1980

 

 

Com. Reg. No.:

529/51, Hodeidah

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Producers of juices, carbonated drinks and mineral water

 

 

No. of Employees :

1,500

 

 

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

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : DERHIM INDUSTRIAL COMPANY LTD (DICO)

Country of Origin                                    : Yemen

Legal Form                                            : Limited Liability Partnership

Registration Date                                   : 24th April 1980

Commercial Registration Number            : 529/51, Hodeidah

Chamber Membership Number                : 910

Issued Capital                                        : YR 1,200,000,000

Paid up Capital                                      : YR 1,200,000,000

Total Workforce                                     : 1,500

Activities                                               : Producers of juices, carbonated drinks and mineral water

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Bassam Mataher, Public Relations Manager

 

 

 

 

COMPANY NAME

 

DERHIM INDUSTRIAL COMPANY LTD (DICO)

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Sana Street

Area                 : Al Marawah Area

 

PO Box             : 3667

 

Town                 : Hodeidah

Country             : Yemen

 

Telephone         : (967-3) 311072 / 311073 / 311187

Facsimile          : (967-3) 311500

Email                : info@dico-ye.com

 

Premises

 

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Hodeidah.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Taher Derhim Ali Taleb Al Abbsi                                                         Managing Partner

 

·       Ali Derhim Ali Taleb Al Abbsi                                                              Partner

 

·       Abdo Derhim Ali Taleb Al Abbsi                                                          Partner

 

·       Abdul Majid Derhim Ali Taleb Al Abbsi                                                            Partner

 

·       Abdul Taher Derhim Ali Taleb Al Abbsi                                               Administration Manager

 

·       Abdul Wali Al Hamadi                                                                        Marketing Manager

 

·       Bassam Mataher                                                                               Public Relations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 24th April 1980

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 529/51, Hodeidah

 

Chamber Member No. : 910

 

Issued Capital              : YR 1,200,000,000

 

Paid up Capital            : YR 1,200,000,000

 

Name of Partners                                                          

 

·       Taher Derhim Ali Taleb Al Abbsi                                                        

 

·       Ali Derhim Ali Taleb Al Abbsi                                                             

 

·       Abdo Derhim Ali Taleb Al Abbsi                                                         

 

·       Abdul Majid Derhim Ali Taleb Al Abbsi

 

 

AFFILIATED COMPANIES

 

·       Yemen United Beverage Co (YUBCO)

PO Box: 3674

Hodeidah

Tel: (967-3) 315305

Fax: (967-3) 315304

 

 

OPERATIONS

 

Activities: Engaged in the production of juices, carbonated drinks and mineral water.

 

Import Countries: Europe and the Far East.

 

Brand Names: DICO, DILSI TIGER AND RANI

 

Subject has a workforce of approximately 1,500 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

     Sana’a Street

     PO Box: 4851

     Hodeidah

     Tel: (967-3) 210162

     Fax: (967-3) 232824

 

 

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 company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.31

UK Pound

1

Rs.88.06

Euro

1

Rs.70.91

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.