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Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
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Name : |
ABDUL JALIL RADMAN FOR TRADING & INDUSTRY CO LTD |
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Registered Office : |
Al Metraq Street, PO Box: 3576, Hodeidah |
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Country : |
Yemen |
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Date of Incorporation : |
18.12.1977 |
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Com. Reg. No.: |
110 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of general foodstuff products. |
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No. of Employees : |
160 |
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 |
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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 – 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 |
Company Name :
ABDUL JALIL RADMAN FOR TRADING & INDUSTRY CO LTD
Country of Origin :
Yemen
Legal Form :
Limited Liability Partnership
Start Date :
18th December 1977
Registration Date :
4th February 1982
Commercial Registration Number :
110, Hodeidah
Chamber Membership Number :
62
Issued Capital :
YR 200,000,000
Paid up Capital :
YR 200,000,000
Total Workforce :
160
Activities :
Distributors of general foodstuff products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Abdul Karim Al Shibani ,
Finance Manager
ABDUL JALIL RADMAN FOR TRADING & INDUSTRY CO LTD
Registered &
Physical Address
Location : Al Metraq Street
PO Box : 3576
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 213200
/ 213207 / 245113 / 412518 / 416939
Facsimile : (967-3) 211816
/ 211536 / 412544
Email : radmanco@y.net.ye
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Central Business Area of Hodeidah.
Name Position
Abdul Jalil Radman Ahmed Qassim Managing
Partner
Dr Mohamed Radman Ahmed Qassim Partner
Abdul Malik Radman Ahmed Qassim Partner
Abdul Rahim Radman Ahmed Qassim Partner
Khalid Abdulrahim Radman Commercial
Manager
Abdul Karim Al Shibani Finance
Manager
Date of Establishment : 18th
December 1977, however subject was registered on 4th February 1982
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 110, Hodeidah
Chamber Member No. : 62
Issued Capital : YR 200,000,000
Paid up Capital : YR 200,000,000
Name of Partners
Abdul Jalil Radman Ahmed Qassim
Dr Mohamed Radman Ahmed Qassim
Abdul Malik Radman Ahmed Qassim
Abdul Rahim Radman Ahmed Qassim
United Dairy & Food Industries Ltd
PO Box: 3800
Hodeidah
Tel: (967-3) 268222
Fax: (967-3) 268122
United Carton Co
Hodeidah
United Foam & Plastic Co
Taiz
Activities: Engaged in the import and distribution of general foodstuff products,
including tomato paste, rice, sugar, tea, milk and energy drinks.
Import Countries: Turkey, India and Kenya
Subject has a workforce of approximately 160 employees.
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.
Tadamon International Islamic Bank
Port Street
Hodeidah
Tel: (967-3) 208844
Fax: (967-3) 208877
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.59.29 |
|
|
1 |
Rs.91.18 |
|
Euro |
1 |
Rs.78.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<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.