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Report Date : |
08.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL AWADHI EST |
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Registered Office : |
Al Awadhi Estate, Al Odain
Street, PO Box 9, Taiz, |
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Country : |
Yemen |
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Date of Incorporation : |
01.01.1962 |
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Com. Reg. No.: |
306/6 & 2847/6 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs, spices and pulses |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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) |
|
Yemen |
B2 |
B2 |
|
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, 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 :
AL AWADHI EST
Country of Origin :
Yemen
Legal Form :
Sole Proprietorship
Registration Date :
1st January 1962
Commercial Registration Number :
306/6 & 2847/6
Invested Capital :
YR 100,000
Total Workforce :
10
Activities :
Distributors of general foodstuffs, spices and pulses
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
AL AWADHI EST
Registered &
Physical Address
Location : Al Awadhi
Estate
Street : Al Odain
Street
PO Box : 9
Town : Taiz
Country : Yemen
Telephone : (967-4) 400950
Facsimile : (967-4) 423552
Mobile : (967-77)
7920713
Email : mohamed5@yemen.net
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Taiz.
Name Position
Mohamed Mohamed Al Awadhi Proprietor
& General Manager
Najeeb Mohamed Mohamed Al Awadhi Assistant
General Manager
Date of Establishment : 1st
January 1962
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 306/6 &
2847/6
Invested Capital : YR 100,000
Mr Mohamed Mohamed Al Awadhi is the sole proprietor of the business.
Activities: Engaged in the
import and distribution of general foodstuffs, spices and pulses.
Import Countries: Europe
and the Far East.
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: 4122
Taiz
Tel: (967-4) 232821
Fax: (967-4) 231139
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.74 |
|
|
1 |
Rs.82.14 |
|
Euro |
1 |
Rs.71.12 |
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 |
|
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.