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Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
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Name : |
RASHAD ABDO ALI QAID TRADING |
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Registered Office : |
PO Box 616 Aden Yemen
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Country : |
Yemen |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.04.1998 |
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Com. Reg. No.: |
10130, Aden |
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Legal Form : |
Sole Proprietorship |
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LINE OF BUSINESS : |
DISTRIBUTORS OF READYMADE GARMENTS, TEXTILES, SHOES, EATHER
PRODUCTS AND SCHOOL FURNITURE KING SULAIMAN
STREET |
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No. of Employees : |
15 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Yemen |
B2 |
B2 |
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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 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : RASHAD ABDO ALI QAID TRADING
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 16th April 1998
Commercial Registration Number : 10130, Aden
Invested Capital : YR 100,000
Total Workforce : 15
Activities : Distributors of readymade garments, textiles, shoes, leather products and school furniture
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rashad Abdo Ali Qaid, Proprietor & General Manager
RASHAD ABDO ALI QAID TRADING
Location : King Sulaiman
Street
PO Box : 616
Town : Aden
Country : Yemen
Telephone : (967-2) 254612 /
269268
Facsimile : (967-2) 265119
Mobile : (967-77)
7123005
Email : rashad.qaid@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Aden.
Name Position
· Rashad Abdo Ali
Qaid Proprietor
& General Manager
· Sami Rashad Abdi
Ali Qaid Sales
Manager
· Akram Saeed Financial
Controller
Date of
Establishment : 16th
April 1998
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 10130, Aden
Invested Capital : YR 100,000
Mr Rashad Abdo Ali Qaid is the sole proprietor of the business.
· Al Alam Al Arabi
for Trading
Aden
Activities: Engaged in the import and distribution of readymade garments, textiles,
shoes, leather products and
school furniture.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 15 employees.
Financial highlights provided by local sources are given below:
Currency: Yemeni Riyal (YR)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales YR
76,300,000 YR
80,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
· Central Bank of
Yemen
Al Aidarous Street
PO Box: 452
Aden
Tel: (967-2)
251129 / 251814
Fax: (967-2)
252120 / 255741
No complaints regarding subject’s payments have been reported.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
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|
1 |
Rs.84.60 |
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Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.