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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEPAM COMMERCIAL ENTERPRISES |
|
|
|
|
Registered Office : |
Souq Omdurman, Al
Shingiti Street, Omdurman |
|
|
|
|
Country : |
Sudan |
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|
|
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Date of Incorporation : |
1995 |
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|
|
|
Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Engaged in the import, distribution and retail of bicycles and related
spare parts. |
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|
|
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No of Employees : |
8 |
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 : |
No Complaints |
|
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) |
|
Sudan |
C1 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUDAN - ECONOMIC OVERVIEW
Sudan is an extremely poor
country that has experienced protracted social conflict, civil war, and, in
July 2011, the loss of three-quarters of its oil production due to the
secession of South Sudan. The oil sector had driven much of Sudan's GDP growth
since 1999. For nearly a decade, the economy boomed on the back of rising oil
production, high oil prices, and significant inflows of foreign direct
investment. Since the economic shock of South Sudan's secession, Sudan has
struggled to stabilize its economy and make up for the loss of foreign exchange
earnings. The interruption of oil production in South Sudan in 2012 for over a
year and the consequent loss of oil transit fees further exacerbated the
fragile state of Sudan’s economy. Sudan is also subject to comprehensive US
sanctions. Sudan is attempting to develop non-oil sources of revenues, such as
gold mining, while carrying out an austerity program to reduce expenditures.
The world’s largest exporter of gum Arabic, Sudan produces 75-80% of the
world’s total output. Agriculture continues to employ 80% of the work force.
Sudan introduced a new currency, still called the Sudanese pound, following
South Sudan's secession, but the value of the currency has fallen since its
introduction. Khartoum formally devalued the currency in June 2012, when it
passed austerity measures that included gradually repealing fuel subsidies.
Sudan also faces rising inflation, which reached 47% on an annual basis in
November 2012, but subsided to 25% in 2013. Ongoing conflicts in Southern
Kordofan, Darfur, and the Blue Nile states, lack of basic infrastructure in
large areas, and reliance by much of the population on subsistence agriculture
keep close to half of the population at or below the poverty line.
|
Source
: CIA |
Company Name :
NEPAM COMMERCIAL ENTERPRISES
Country of Origin :
Sudan
Legal Form :
Sole Proprietorship
Registration Date :
1995
Invested Capital :
SD 4,000,000
Total Workforce :
8
Activities :
Distributors of bicycles and related spare parts.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Paradeep Kumar, Proprietor & General Manager
NEPAM COMMERCIAL ENTERPRISES
Location : Souq Omdurman
Street : Al Shingiti Street
Town : Omdurman
Country : Sudan
Telephone : (249-187)
574627 / 559174
Facsimile : (249-187)
572356
Mobile : (249-912)
148631
Email : nepam.sd@gmail.com
Please note that subject’s previous address was, Souq Omdurman, Street
No. 30, Omdurman.
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Omdurman.
Name Position
· Paradeep
Kumar Proprietor
& General Manager
· Hassan Ba Baker Assistant
General Manager
Date of
Establishment : 1995
Legal Form : Sole
Proprietorship
Invested Capital : SD 4,000,000
Mr Paradeep Kumar is the sole proprietor of the business.
Activities: Engaged in the import, distribution and retail of bicycles and related
spare parts.
Import Countries: China, India and South Korea.
International Suppliers:
· Ghaunzhu Light Industries Product Co China
· Shanghai Light Industrial Products Co China
· Shanghai Phoenix China
· KMS Export Ltd India
Subject has a workforce of 8 employees.
Companies registered in Sudan are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Tadamon Islamic Bank
PO Box: 846
Omdurman
Tel:
(249-187) 577330
Fax:
(249-187) 555733
·
Qatar National Bank
Al Arda Street
Omdurman
Tel: (249-156) 772400
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.61.93 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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.