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Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL TAKAMOL INTERNATIONAL CO LTD |
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Registered Office : |
Gamal Street Al Hasab Zone |
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Country : |
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Date of Incorporation : |
2008 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of raw materials, chemicals for
the paint industry, foodstuffs and beverages. |
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No. of Employees |
35 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Yemen |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
|
Source
: CIA |
Company Name : AL TAKAMOL INTERNATIONAL CO LTD
Also Known As : AL TAKAMOL FOR MANAGEMENT TRADING AND MARKETING CO LTD
Country of Origin : Yemen
Legal Form : Limited Liability Partnership
Registration Date : 2008
Issued Capital : YR 15,000,000
Paid up Capital : YR 15,000,000
Total Workforce : 35
Activities : Distributors of raw materials, chemicals for the paint industry, foodstuffs and beverages
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Adib Sharaf, Public Relations Manager
AL TAKAMOL INTERNATIONAL CO LTD
AL
TAKAMOL FOR MANAGEMENT TRADING AND MARKETING CO LTD
Street : Gamal Street
Area : Al Hasab
Zone
PO Box : 5726
Town : Taiz
Country : Yemen
Telephone : (967-4) 222890
/ 224990 / 242401 / 242386
Facsimile : (967-4) 224493
/ 242386
Mobile : (967-77)
7242609
Email : info@sheibanigroup.com / npcfc@y.net.ye
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Taiz.
Name Position
· Abu Baker Ahmed
Abdullah Sheibani Managing
Partner
· Omar Ahmed
Abdullah Sheibani Partner
· Adib Sharaf Public
Relations Manager
· Arif Abdulrahman Sales
Manager
Date of
Establishment : 2008
Legal Form : Limited Liability
Partnership
Issued Capital : YR 15,000,000
Paid up Capital : YR 15,000,000
· Abu Baker Ahmed
Abdullah Sheibani
· Omar Ahmed
Abdullah Sheibani
· Sheibani Group
Taiz
Activities: Engaged in the import and distribution of raw materials, chemicals for the
paint industry, foodstuffs and beverages.
Import Countries: Europe and the Far East
Subject has a workforce of 35 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.
· Tadamon
International Islamic Bank
Jamal Street
Taiz
Tel: (967-4) 252817
Fax: (967-4) 252811
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.76 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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|
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|
Report Prepared
by : |
NIS |
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.