|
Report Date : |
31.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
DADIAH GENERAL TRADING |
|
|
|
|
Registered Office : |
Dadiah Street, P O Box
87203, Thamar City |
|
|
|
|
Country : |
Yemen |
|
|
|
|
Year of Establishments: |
1970 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject’s
operations are performed through the following divisions: · Foodstuff Division Pharmaceutical Division |
|
|
|
|
No. of Employees : |
275 |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Yemen |
C1 |
C1 |
|
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. In 2012, the Friends of Yemen pledged
over $7 billion in assistance to Yemen. The Yemeni Government also endorsed a
Mutual Accountability Framework to facilitate the efficient implementation of
donor aid. The unrest that began in early 2011 caused GDP to plunge more than
15% in 2011, and about 2% in 2012. Availability of basic services, including
electricity, water, and fuel, has improved since the transition, but progress
toward achieving more sustainable economic stability has been slow and uneven.
Yemen continues to face difficult long-term challenges, including declining
water resources, high unemployment, and a high population growth rate.
|
Source : CIA |
Concern Name : DADIAH GENERAL TRADING
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Start Date : 1970
Registration Date : 1st January 1978
Chamber Membership Number : 2
Invested Capital : YR 10,000,000
Total Workforce : 275
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
DADIAH GENERAL
TRADING
Registered &
Physical Address
Location : Dadiah Street
PO Box : 87203
Town : Thamar City
Country : Yemen
Telephone : (967-6) 505050 / 502211 / 501111
Facsimile : (967-6) 502666
Mobile : (967-77) 77777050
Email : import@dadiah.com.ye / dadiah@yahoo.com
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Thamar City.
Branch Office (s)
Location Description
·
Sana’a Sales
Office
Tel: (967-1) 294630
·
Aden Sales
Office
Tel: (967-2) 242499 / 247104
Name Position
·
Mohamed Abdo Dadiah Proprietor
& General Manager
·
Mohamed Mohamed Abdo Dadiah Assistant
General Manager
·
Ibrahim Mohamed Abdo Dadiah Aden
Branch Manager
·
Yousef Mohamed Abdo Dadiah Thamar
City Branch Manager
Date of Establishment : 1970, however
subject was registered on 1st January 1978
Legal Form :
Sole Proprietorship
Chamber Member No. : 2
Invested Capital : YR 10,000,000
Mr Mohamed Abdo
Dadiah is the sole proprietor
of the business.
·
Dadiah Petroleum
Thamar City
Yemen
·
Dadiah Pharma
Thamar City
Yemen
Activities: Subject’s operations are performed through
the following divisions:
·
Foodstuff
Division
Engaged in the import and
distribution of general foodstuffs, including pulses and spices.
·
Pharmaceutical
Division
Engaged in the import and distribution of pharmaceuticals.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 275 employees.
Companies
registered in Yemen are not legally required to make their accounts public and
no financial information was released by the concern or submitted by outside sources.
·
Yemen
Commercial Bank
PO Box: 4230
Aden
Tel: (967-2) 255183 / 253384
Fax: (967-2) 255428
·
Tadamon
International Islamic Bank
Al Mualla District
Aden
Tel: (967-2) 240536
Fax: (967-2) 240520
·
Yemen Bank For Reconstruction & Development
Al Saeeda Branch
PO Box: 239
Aden
Tel: (967-2)
256859 / 254046
Fax: (967-2)
252141
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.66.57 |
|
UK Pound |
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.