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Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
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Name : |
GOLD STYLE DEVELOPMENT & INDUSTRY CO LTD |
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Registered Office : |
Building No. 244 Square No. 63, Arkaweet Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
23.01.2007 |
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Com. Reg. No.: |
303348, Khartoum |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of electrical equipment, machinery, animal feed, primary chemicals, seeds and cotton |
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No. of Employees : |
5 |
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) |
|
Sudan |
C1 |
C1 |
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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 |
SUDAN - ECONOMIC OVERVIEW
sudan is an extremely poor country that has had to deal with
social conflict, civil war, and the July 2011 secession of South Sudan - the
region of the country that had been responsible for about three-fourths of the
former Sudan's total oil production. The oil sector had driven much of Sudan's
GDP growth since it began exporting oil in 1999. For nearly a decade, the
economy boomed on the back of increases in oil production, high oil prices, and
significant inflows of foreign direct investment. Following South Sudan's
secession, Sudan has struggled to maintain economic stability, because oil
earnings now provide a far lower share of the country's need for hard currency
and for budget revenues. Sudan is attempting to generate new sources of
revenues, such as from gold mining, while carrying out an austerity program to
reduce expenditures. Services and utilities have played an increasingly
important role in the economy. Agricultural production continues to employ 80%
of the work force and contributes a third of GDP. Sudan introduced a new
currency, still called the Sudanese pound, following South Sudan's secession,
but the value of the currency has fallen since its introduction and shortages
of foreign exchange continue. Sudan also faces rising inflation, which has led
to a number of small scale protests in Khartoum in recent months. Ongoing
conflicts in Southern Kordofan, Darfur, and the Blue Nile states, lack of basic
infrastructure in large areas, and reliance by much of the population on
subsistence agriculture ensure that much of the population will remain at or
below the poverty line for years to come.
Source
: CIA
Company Name : GOLD STYLE DEVELOPMENT & INDUSTRY CO LTD
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 23rd January 2007
Commercial Registration Number : 303348, Khartoum
Chamber Membership Number : 14862
Issued Capital : SD 200,000
Paid up Capital : SD 200,000
Total Workforce : 5
Activities : Distributors of electrical equipment, machinery, animal feed, primary
chemicals, seeds and cotton
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Akram Mohiddine Awad Al Khateeb, Commercial Manager
GOLD STYLE DEVELOPMENT & INDUSTRY CO LTD
Building : Building No.
244
Area : Square No.
63, Arkaweet
Town : Khartoum
Country : Sudan
Telephone : (249-155)
888999
Facsimile : (249-155)
133528
Mobile : (249-922) 601162
Email : akram_alkhateeb@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Khartoum.
Name Position
· Jafar Fadal Managing
Director
· Mohiddine Awad Al
Khateeb General
Manager
· Akram Mohiddine
Awad Al Khateeb Commercial
Manager
Date of
Establishment : 23rd
January 2007
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 303348, Khartoum
Chamber Member No. : 14862
Issued Capital : SD 200,000
Paid up Capital : SD 200,000
· Jafar Fadal
· Members of Mr
Jafar Fadal’s family
Activities: Engaged in the import and distribution of electrical equipment,
machinery, animal feed, primary chemicals,
seeds and cotton.
Subject has a workforce of 5 employees.
Companies registered in Sudan are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
Sudanese French Bank
PO Box: 2775
Palace Road
Khartoum
Tel: (249-183)
771730
Fax: (249-183)
771740
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
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|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.