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Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL BEKAR FOR TRADING AND MARKETING (HASSAN
MOHAMED AL BEKAR) |
|
|
|
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Registered Office : |
Al Safia Area
Southern, Sana’a |
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|
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|
Country : |
Yemen |
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|
|
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Year of Establishments: |
1999 |
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|
|
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Com. Reg. No.: |
1798/2 |
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|
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
importer and distributor of general foodstuffs,
including dried foods, rice, spices and pulses. |
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|
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No. of Employees : |
07 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
No Complaints |
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|
|
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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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Concern Name : AL BEKAR FOR TRADING AND MARKETING (HASSAN MOHAMED
AL BEKAR)
Country of Origin : Yemen
Legal Form : Sole Proprietorship
Registration Date : 1999
Commercial Registration Number : 1798/2
Invested Capital : YR 1,000,000
Total Workforce : 7
Activities : Distributors of general foodstuffs
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL BEKAR FOR
TRADING AND MARKETING (HASSAN MOHAMED AL BEKAR)
Registered &
Physical Address
Location : Al Safia Area Southern
Town : Sana’a
Country : Yemen
Telephone : (967-1) 243052
Facsimile : (967-1) 502693
Mobile : (967-77) 7243892
Email : albekar2010@windowslive.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Sana’a.
Name Position
·
Hassan
Mohamed Al Bekar Proprietor
& General Manager
·
Abdul
Malik Sales
Manager
Date of Establishment : 1999
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1798/2
Invested Capital : YR 1,000,000
Mr Hassan Mohamed
Al Bekar is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuffs, including dried foods, rice, spices and pulses.
Import
Countries: India
International
Suppliers:
·
Ram Dev
Rice Mill India
·
Mahavir
Rice Mill India
Subject has a
workforce of 7 employees.
Companies
registered in Yemen are not legally required to make their accounts public and
no financial information was released by the concern or submitted by outside
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 business is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.