|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FURREH INTERNATIONAL TRADING ESTABLISHMENT |
|
|
|
|
Registered Office : |
5 Gachamaleh |
|
|
|
|
Country : |
Djibouti |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Legal Form : |
Not Available |
|
|
|
|
Line of Business : |
The subject is engaged in the trade in Tobacco and all kinds of
consumer products. |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
Djibouti |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
DJIBOUTI - ECONOMIC OVERVIEW
Djibouti's economy is based on service activities connected
with the country's strategic location and status as a free trade zone in the
Horn of Africa. Three-fourths of Djibouti's inhabitants live in the capital city;
the remainder are mostly nomadic herders. Scant rainfall limits crop production
to small quantities of fruits and vegetables, and most food must be imported.
Djibouti provides services as both a transit port for the region and an
international transshipment and refueling center. Imports, exports, and
re-exports - primarily of coffee from landlocked neighbor Ethiopia - represent
70% of port activity at Djibouti's container terminal. Djibouti has few natural
resources and little industry. The nation is, therefore, heavily dependent on
foreign assistance to help support its balance of payments and to finance
development projects. An unemployment rate of nearly 60% continues to be a
major problem. While inflation is not a concern, due to the fixed tie of the
Djiboutian franc to the US dollar, the artificially high value of the
Djiboutian franc adversely affects Djibouti's balance of payments. Djibouti
holds foreign reserves amounting to less than six months of import coverage.
Per capita consumption dropped an estimated 35% between 1999 and 2006 because
of recession, civil war, and a high population growth rate (including
immigrants and refugees). Djibouti has experienced relatively minimal impact
from the global economic downturn, but its reliance on diesel-generated
electricity and imported food leave average consumers vulnerable to global
price shocks. Djibouti in 2012 began construction of a third port to secure its
position as a critical transshipment hub in the Horn of Africa and the
principal conduit for Ethiopia's trade. Djibouti also received funding in late
2012 for a desalination plant to begin address the severe freshwater shortage
affecting Djibouti City, and particularly its poorest residents.
|
Source
: CIA |
FURREH
INTERNATIONAL TRADING ESTABLISHMENT
ADDRESSES:
Main Address: 5
Gachamaleh
Zip code/City: Djibouti,
Djibouti
Telephone: + 253
341 070
E-mail: furrehdj@gmail.com
Established: 2001
Line of Business: Consumer
goods wholesale
Industry Division: Wholesale
trade
Industry-code (NACE): 4639
Non-specialised wholesale of food, beverages and tobacco
Banks: Not
disclosed.
Employees: 40
CNPJ: -
Board of
Directors:
General Director Ahmed
Osman Ismail
Public
information:
-
Import and Export:
Import, Export
Payment history:
No complaints on record.
Owners/-s:
Name(s) of the sharreholder(s) are not available.
Financial
information:
There are no accounts available.
Exchange rate:
US$ 1,00
= DJF 176,376 -
Official rate on 24.05.2013
Main Activities:
The business is engaged in the trade in Tobacco and all kinds of
consumer products.
Subject matter is
a official dsitributorof :
Alfakher Tobacco Trading, Ajman UAE
Operations &
branches:
At the address, 5 Gachamaleh, Djibouti, we find the companies head
office.
At the address, 26th June Street, Hargeisa, North-West, Somalia, we find
a branche office.
Staff:
40
The company has operations in various countries in the African horn
region, such as Yemen, Oman and Somalia.
The address in Somalia is:
26th June Street
Hargeisa
North-West
Somalia
We could not establish whether this is a branch of subject matter, a
subsidairy or merely a related company.
When contacting the company, they declined to provide any information by
phone. As per their request we have sent an email requesting further details.
So far we did not receive a response. Should we receive more information in the
coming few days, then we will send you an update.
The Company is not registered at the chamber of commerce in Djibouti.
When granting credit to companies in Djibouti we do recommend you to
seek good guarantees.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.56 |
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.