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Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
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Name : |
ZAYED FOR TRADING & IMPORT |
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Registered Office : |
Al Nojoom Street, PO Box : 21079, Sana’a |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of general
foodstuffs, including rice, beans, pulses, oil and flour. |
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No. of Employees : |
19 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 :
ZAYED FOR TRADING & IMPORT
Country of Origin :
Yemen
Legal Form :
Sole Proprietorship
Registration Date :
1991
Invested Capital :
YR 1,000,000
Total Workforce :
19
Activities :
Distributors of general foodstuffs.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Zayed Ali Hussain Zayed, Assistant General Manager
ZAYED FOR TRADING
& IMPORT
Registered &
Physical Address
Location : Al Nojoom
Street
PO Box : 21079
Town : Sana’a
Country : Yemen
Telephone : (967-1) 543134
Facsimile : (967-1) 546101
Mobile : (967-77)
7133840
Email : zahz@yemen.net.ye
Please note that the subject’s head office is located at the above
address it had no idea about Zaqeem Street.
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
Bab Al Salam Street Office
premises
Sana’a
Tel: (967-1) 280552
Mina Street Office
premises
Hodeidah
Tel: (967-3) 203322
Name Position
Ali Hussain Zayed Proprietor
& General Manager
Zayed Ali Hussain Zayed Assistant
General Manager
Ibrahim Al Hamzi Finance
Manager
Date of Establishment : 1991
Legal Form : Sole
Proprietorship
Invested Capital : YR 1,000,000
Mr Ali Hussain Zayed is the sole proprietor of the business.
Activities: Engaged in the import and distribution
of general foodstuffs, including rice, beans, pulses, oil and flour.
Import Countries: Europe
and the Far East.
International
Suppliers:
D D International India
Mahavir Rice India
Brand Names: ZAYED, ALMASARAT, TAJ AL OMARA, AL
OMRA and ALRAFYA
Operating Trend: Steady
Subject has a workforce of 19 employees.
Financial highlights provided by local sources are given below:
Currency: Yemeni Riyal (YR)
Year Ending 31/12/11: Year Ending 31/12/12:
Total Sales YR
72,825,000 YR
73,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Bank of Yemen
Al Quaa Area
Sana’a
Tel: (967-1) 296278
Fax: (967-1) 296277
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.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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.