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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ELRASED FOR IMPORT & EXPORT CO LTD |
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Registered Office : |
Shop No. 512,
Local Market, Khartoum |
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Country : |
Sudan |
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Year of Establishments: |
2011 |
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Com. Reg. No.: |
10341, Khartoum |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Exporters of dried foodstuffs |
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No. of Employees : |
05 |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Sudan |
C1 |
C1 |
|
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. Agricultural production continues to employ 80% of the work force. 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. Khartoum formally devalued the currency in June when it passed austerity measures that included gradually repealing fuel subsidies. Sudan also faces rising inflation, which reached 47% on an annual basis in November. 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 : ELRASED FOR IMPORT & EXPORT CO LTD
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 2011
Commercial Registration Number : 10341, Khartoum
Issued Capital : SD 250,000
Paid up Capital : SD 250,000
Total Workforce : 5
Activities : Exporters of dried foodstuffs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Abdul Hameed Sayed Ahmed Al Mahi, General Manager
ELRASED FOR IMPORT
& EXPORT CO LTD
Registered &
Physical Address
Location : Shop No. 512, Local Market
Town : Khartoum
Country : Sudan
Mobile : (249-912) 452543 / 394481
Email : almahim@yahoo.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Khartoum.
Name Position
·
Abdul
Hameed Sayed Ahmed Al Mahi Managing
Director
·
Mohamed
Abdul Hameed Sayed Ahmed Al Mahi General
Manager
Date of Establishment : 2011
Legal Form :
Limited Liability Company
Commercial Reg. No. : 10341,
Khartoum
Issued Capital : SD 250,000
Paid up Capital : SD 250,000
Name of
Shareholder (s)
·
Abdul
Hameed Sayed Ahmed Al Mahi
Activities: Engaged in the export of dried foodstuffs,
including sesame seeds and humus.
Import
Countries: Europe and the
Far East.
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.
·
Bank of
Khartoum
8 Gamhouria Avenue
PO Box: 1008
Khartoum
Tel: (249-183) 772880
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.
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.70.68 |
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 |
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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 |
|
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.