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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
ZABLON TRADING PLC |
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Registered Office : |
House No 1935 Kebele 05, Nazareth Industrial
Zone Tractor Factory Road Nazareth |
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Country : |
Ethiopia |
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Date of Incorporation : |
15.02.2004 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as
exporters of niger seeds, pulses, oilseeds, spices and other related food
products and import of automotives, trucks |
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No. of Employees : |
50 employees. |
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 |
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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) |
|
Ethiopia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
ETHIOPIA - ECONOMIC OVERVIEW
Ethiopia's economy is based on agriculture, which accounts for
46% of GDP and 85% of total employment. Coffee has been a major export crop.
The agricultural sector suffers from poor cultivation practices and frequent
drought, but recent joint efforts by the Government of Ethiopia and donors have
strengthened Ethiopia's agricultural resilience, contributing to a reduction in
the number of Ethiopians threatened with starvation. The banking, insurance,
and micro-credit industries are restricted to domestic investors, but Ethiopia
has attracted significant foreign investment in textiles, leather, commercial
agriculture and manufacturing. Under Ethiopia's constitution, the state owns
all land and provides long-term leases to the tenants; land use certificates
are now being issued in some areas so that tenants have more recognizable
rights to continued occupancy and hence make more concerted efforts to improve
their leaseholds. While GDP growth has remained high, per capita income is
among the lowest in the world. Ethiopia''s economy continues on its state-led
Growth and Transformation Plan under its new leadership after Prime Minister
MELE's death. The five-year economic plan has achieved high single-digit growth
rates through government-led infrastructure expansion and commercial
agriculture development. Ethiopia in 2013 plans to continue construction of its
Grand Renaissance Dam on the Nile-the controversial multi-billion dollar effort
to develop electricity for domestic consumption and export.
|
Source
: CIA |
|
Registered Name: |
ZABLON TRADING
PLC |
|
Requested Name: |
ZABION TRADING PLC |
|
Other Names: |
None |
|
Physical Address: |
House No 1935 Kebele 05, Nazareth Industrial
Zone Tractor Factory Road Nazareth |
|
Postal Address: |
P.
o. Box 3284 |
|
|
Nazareth |
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Country: |
Ethiopia |
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Phone: |
251-221124040/86696528/-11-4167797 |
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Cell: |
251-911205793/911253781 |
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Fax: |
251-221100229/86696528/-11-4669965 |
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Email: |
info@zablontrading.com/phison@ethionet.et |
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Website: |
www.zablontrading.com |
|
Legal Form: |
Limited Corporation |
|
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Date Incorporated: |
15-Feb-2004 |
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Reg. Number: |
Ethiopia |
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Nominal Capital |
ETB.
50,000 |
|
|
Subscribed Capital |
ETB.
50,000 |
|
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Biniam Bedewi |
CEO |
|
|
Ms. Selamawit Mekonen |
Manager |
|
|
Mr. Ermias Tefera |
Manager |
|
|
Mr. Bethelehem Tamiru |
Secretary |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
Debrezait Road, Garad Mall, 7th Floor Roam No. 603, Addis Ababa |
Branches of the firm |
|
Registered to operate as
exporters of niger seeds, pulses, oilseeds, spices and other related food products
and import of automotives, trucks |
|
|
Imports: |
Asia |
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Exports: |
Europe, USA |
|
Trademarks: |
None |
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Terms of sale: |
Cash (60%) and 30 days (40%), invoices. |
|
|
|
|
Main Customers: |
firms and organizations |
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Employees: |
50 employees. |
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Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Ethiopia |
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Location: |
Leased premises, 1,500 square feet, |
|
Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Ethiopian Birr (ETB.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 18.91
Ethiopian Birr |
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Fiscal Year End: |
December 31, 2012 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2012 was of 13%. |
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||
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Financial Information not
Submitted |
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Profit and Loss
(expressed in ETB.) |
||
|
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2012 |
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Sales |
|
58,500,000 |
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Bank Name: |
Dashen Bank |
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Branch: |
Ethiopia |
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Comments: |
None |
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Experiences: |
Good |
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|
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NOTARIAL BONDS |
None |
|
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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.