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Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
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Name : |
AL RONI TRADING CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1989 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Subject is engaged in the import and distribution of sanitary ware
products, tiles and ceramics. |
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No. of Employees : |
15 |
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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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 70% of government revenue. Yemen has tried
to counter the effects of its declining oil resources 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
over $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 more than
15% in 2011, and about 2% in 2012. 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, and a high population growth rate.
|
Source
: CIA |
Company Name :
AL RONI TRADING CO
Country of Origin :
Yemen
Legal Form :
Limited Liability Partnership
Registration Date :
1989
Issued Capital :
YR 2,500,000
Paid up Capital :
YR 2,500,000
Total Workforce :
15
Activities :
Distributors of sanitary ware products, tiles and ceramics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Al Ghadeer, Sales Executive
AL RONI TRADING CO
Registered &
Physical Address
Location : Riyadh Street
(Hail Street)
PO Box : 12563
Town : Sana’a
Country : Yemen
Telephone : (967-1) 216831
/ 400317 / 208252
Facsimile : (967-1) 208259
/ 401549
Mobile : (967-71)
115343
Email : teronius@yahoo.com
/ alronitrd@y.net.ye
Premises
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
Taiz Street Office
premises
Sana’a
Tel: (967-1) 630671
Aden Office
premises
Tel: (967-2) 385459
Name Position
Tareq Alo Saleh Al Roni Managing
Partner
Messar Saleh Al Roni Partner
Senan Saleh Al Roni Partner
Fouaz Al Halabi Sales
Executive
Essam Al Abssi Financial
Controller
Mohamed Al Ghadeer Sales
Executive
Date of Establishment : 1989
Legal Form : Limited Liability
Partnership
Issued Capital : YR 2,500,000
Paid up Capital : YR 2,500,000
Name of Partners
Tareq Alo Saleh Al Roni
Messar Saleh Al Roni
Senan Saleh Al Roni
Activities: Engaged in the
import and distribution of sanitary ware products, tiles and ceramics.
Import Countries: Spain
and Egypt
International Suppliers:
Cerba Spain
Memas Spain
Crystal Spain
Gloria Egypt
Royal Ceramic Egypt
El Omara Ceramic Egypt
Venus Ceramic Egypt
Operating Trend: Steady
Subject has a workforce of 15 employees.
Financial highlights provided by local sources are given below:
Currency: Yemeni Riyal (YR)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales YR
96,000,000 YR
100,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
International Bank of Yemen (IBY)
Zubairy Street
PO Box: 4444
Sana’a
Tel: (967-1) 407154
Fax: (967-1) 407155
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
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 |
---- |
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.