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Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
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Name : |
BETALINK TECHNOLOGY |
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Registered Office : |
Al Quds Street Al Safia Area |
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Country : |
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Date of Incorporation : |
2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of IT products and software. Subject’s products include, computer components, networking solutions, printing and photocopying products, security solutions and PC accessories |
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No. of Employees |
22 |
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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Maximum Credit Limits : |
US$ 100,000 |
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Yemen |
C1 |
C1 |
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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 |
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 63% of government revenue. Yemen has tried to counter the effects of its declining oil resources and continuing attacks on its oil pipelines 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 nearly $7 billion in assistance to Yemen. The Yemeni Government also endorsed a Mutual Accountability Framework to facilitate the efficient implementation of donor aid. The unrest that began in early 2011 caused GDP to plunge almost 11% in 2011. Availability of basic services, including electricity, water, and fuel, has improved since the transition, but progress toward achieving more sustainable economic stability has been slow and uneven. Yemen continues to face difficult long-term challenges, including declining water resources, high unemployment, severe food scarcity, and a high population growth rate
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Source
: CIA |
Company Name : BETALINK TECHNOLOGY
Country of Origin : Yemen
Legal Form : Limited Liability Company
Registration Date : 2004
Issued Capital : YR 20,000,000
Paid up Capital : YR 20,000,000
Total Workforce : 22
Activities : Distributors of IT products and software
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
BETALINK TECHNOLOGY
Street : Al Quds
Street
Area : Al Safia
Area
PO Box : 16299
Town : Sana’a
Country : Yemen
Telephone : (967-1) 514211
/ 514212
Facsimile : (967-1) 514213
Mobile : (967-711)
115160
Email : support@betalinktech.com
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Sana’a.
Branch Office (s)
Location Description
· Mogadishu Street Showroom
premises
Sana’a
Tel: (967-1)
532445
Fax: (967-1)
532446
Name Position
· Khalil Yahya
Bowtag Managing
Director
· Jamal Mohamed Al
Ansi Director
· Yahya Mohamed Sales
Manager
Date of
Establishment : 2004
Legal Form : Limited Liability
Company
Issued Capital : YR 20,000,000
Paid up Capital : YR 20,000,000
· Khalil Yahya
Bowtag
· Jamal Mohamed Al
Ansi
Activities: Engaged in the import and distribution of IT products and software.
Subject’s products include, computer
components, networking solutions, printing and photocopying products, security solutions and PC
accessories. Subject also provides IT services including, supply and implementation of network products
and services, system integration and solutions, structured cabling, consulting services, firewall installation,
preventative
maintenance and back up and disaster recovery.
Import Countries: Europe, United Arab Emirates and the United States
of America.
International Suppliers:
· Microsoft Dubai
· Kaspersky Dubai
Subject has a workforce of 22 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.
· National Bank of
Yemen
Zubairy
Street
PO
Box: 198309
Sana’a
Tel:
(967-1) 284123
Fax:
(967-1) 284128
No complaints regarding subject’s payments have been reported.
Recommended credit limit: US$
100,000
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.