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Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ABDUL RAHMAN SUHAIL FOR GENERAL TRADING EST (ARASCO) |
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Registered Office : |
Al Meena Street Hodeidah |
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Country : |
Yemen |
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Date of Incorporation : |
11.02.2004 |
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Com. Reg. No.: |
40575 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs and
grocery products |
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No. of Employees : |
10 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Yemen |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
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. 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 RAHMAN SUHAIL FOR GENERAL TRADING EST (ARASCO)
Country of Origin :
Yemen
Legal Form :
Sole Proprietorship
Registration Date :
11th February 2004
Commercial Registration Number :
40575, Hodeidah
Chamber Membership Number :
6456
Invested Capital :
YR 5,000,000
Total Workforce :
10
Activities :
Distributors of general foodstuffs and grocery
products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
ABDUL RAHMAN SUHAIL FOR GENERAL TRADING EST (ARASCO)
Registered &
Physical Address
Location : Al Meena
Street
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 214963
Facsimile : (967-3) 214965
Mobile : (967-77) 7264963
Email : arasco@y.net.ye
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Hodeidah.
Name Position
Abdul Rahman Ahmed Suhail Ali Proprietor
& General Manager
Dr Mohamed Ahmed Suhail Ali Assistant
General Manager
Date of Establishment : 11th
February 2004
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 40575, Hodeidah
Chamber Member No. : 6456
Invested Capital : YR 5,000,000
Mr Abdul Rahman Ahmed Suhail Ali is the sole
proprietor of the business.
Activities: Engaged in the
import and distribution of general foodstuffs and
grocery products.
Import Countries: India,
Sri Lanka and East Africa
Subject has a workforce of 10 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.
Yemen Commercial Bank
PO Box: 4894
Hodeidah
Tel: (967-3) 217040-3
Fax: (967-3) 211883
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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 |
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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 |
|
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 |
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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.