|
Report Date : |
15.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
AL FATIH TRADING SHOPS |
|
|
|
|
Registered Office : |
Al Rebat Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
line of business
: |
Wholesalers and retailers of general foodstuff products. |
|
|
|
|
No. of Employees : |
14 |
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) |
|
|
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 :
AL FATIH TRADING SHOPS
You Requested :
ASAM AHMED KAHTAN
Country of Origin :
Yemen
Legal Form :
Sole Proprietorship
Registration Date :
2002
Invested Capital :
YR 1,500,000
Total Workforce :
14
Activities :
Wholesalers and retailers of general foodstuff products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Zakria Sadiq Mohamed Al Shahry, Assistant
General Manager
AL FATIH TRADING SHOPS
ASAM AHMED KAHTAN
Registered &
Physical Address
Location : Al Rebat Area
Town : Aden
Country : Yemen
Telephone : (967-2) 303640
Facsimile : (967-2) 510347
Mobile : (967-73)
4006943
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Aden.
Branch Office (s)
Subject has branch offices located in Sana’a and Hodeidah.
Name Position
Sadiq Mohamed Al Shahry Proprietor
& General Manager
Zakria Sadiq Mohamed Al Shahry Assistant
General Manager
Asam Ahmed Kahtan Sales
Manager
Date of Establishment : 2002
Legal Form : Sole
Proprietorship
Invested Capital : YR 1,500,000
Mr Sadiq Mohamed Al Shahry is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of general foodstuff products,
including rice and dried foods.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 14 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
78,000,000 YR
83,000,000
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
Crater Area
PO Box: 5
Aden
Tel: (967-2) 253753
Fax: (967-2) 252325
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.54.72 |
|
|
1 |
Rs.88.60 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.