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Report Date : |
14.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
YEMEN UNITED
BEVERAGE CO (YUBCO) |
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|
|
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Registered Office : |
Sana Street, Al
Qatai Area, P O Box 3674, Hodeidah |
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Country : |
Yemen |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
1968 |
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Com. Reg. No.: |
7464, Hodeidah |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the production
of juices, beverages, carbonated drinks and mineral water. |
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|
No of Employees : |
500 (Approximately) |
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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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Yemen |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 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 : YEMEN UNITED BEVERAGE CO (YUBCO)
Country of Origin : Yemen
Legal Form : Limited Liability Partnership
Start Date : 1968
Registration Date : 8th August 1978
Commercial Registration Number : 7464, Hodeidah
Trade Licence Number : 875
Chamber Membership Number : 723
Issued Capital : YR 1,000,000,000
Paid up Capital : YR 1,000,000,000
Total Workforce : 500
Activities : Producers of juices, beverages, carbonated drinks and mineral water
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Qassim Abdul Raouf Mostafa, Finance Manager
YEMEN UNITED BEVERAGE CO (YUBCO)
Registered &
Physical Address
Street : Sana Street
Area : Al Qatai Area
PO Box : 3674
Town : Hodeidah
Country : Yemen
Telephone : (967-3) 315305 / 315276 / 315307 /
315153 / 315154
Facsimile : (967-3) 315304 / 315112 / 315274
Email : info@yubco-ye.com / yubco@yubco-ye.com
Premises
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Hodeidah.
Name Position
·
Taher
Derhim Ali Taleb Al Abbsi Managing
Partner
·
Ali
Derhim Ali Taleb Al Abbsi Partner
·
Abdo
Derhim Ali Taleb Al Abbsi Partner
·
Abdul
Majid Derhim Ali Taleb Al Abbsi Partner
·
Abdul Jabar Derhim Ali Taleb Al Abbsi Partner
·
Mohamed Derhim Ali Taleb Al Abbsi Partner
·
Khalid
Ali Dirhem Marketing
Manager
·
Bassam
Mataher Public
Relations Manager
·
Qassim
Abdul Raouf Mostafa Finance
Manager
Date of Establishment : 1968, however
subject was registered on 8th August 1978
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 7464,
Hodeidah
Trade
Licence No. : 875
Chamber Member No. : 723
Issued Capital : YR 1,000,000,000
Paid up Capital : YR 1,000,000,000
Name of Partners
·
Taher
Derhim Ali Taleb Al Abbsi
·
Ali
Derhim Ali Taleb Al Abbsi
·
Abdo
Derhim Ali Taleb Al Abbsi
·
Abdul Majid
Derhim Ali Taleb Al Abbsi
·
Abdul Jabar Derhim Ali Taleb Al Abbsi
·
Mohamed Derhim Ali Taleb Al Abbsi
·
Derhim
Industrial Co Ltd (DICO)
PO Box: 3667
Hodeidah
Tel: (967-3) 311072
Fax: (967-3) 311500
Activities: Engaged in the production of juices,
beverages, carbonated drinks and mineral water.
Import
Countries: Saudi Arabia,
Europe and the Far East
International Suppliers:
·
Gulf
Packaging Saudi
Arabia
·
Gulf
Solution Saudi
Arabia
Brand Names: AL BARAKAH, BRAKANI, SIHAM, CANADA DRY and
ADCO
Operating Trend: Steady
Subject has a
workforce of approximately 500 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 Revenue YR 13,820,000,000 YR 15,000,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Qassim Abdul Raouf Mostafa, Finance Manager
·
National
Bank of Yemen
Sana’a Street
PO Box: 4851
Hodeidah
Tel: (967-3) 210162
Fax: (967-3) 232824
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.