|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SALEH MOHAMMED MOKBEL |
|
|
|
|
Registered Office : |
Merkato
Addis Industrial Area, Addis Ababa |
|
|
|
|
Country : |
Ethiopia |
|
|
|
|
Date of Incorporation : |
11.03.2009 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Operate as exporters of
pulses, oilseeds, spices and other related products and importers of hardware |
|
|
|
|
No. of Employees |
10 |
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 |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Ethiopia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
ETHIOPIA - ECONOMIC OVERVIEW
Ethiopia's economy is based
on agriculture but the government is pushing to diversify into manufacturing,
textiles, and energy generation.. Coffee is a major export crop. The agricultural
sector suffers from poor cultivation practices and frequent drought, but recent
joint efforts by the Government of Ethiopia and donors have strengthened
Ethiopia's agricultural resilience, contributing to a reduction in the number
of Ethiopians threatened with starvation. The banking, insurance,
telecommunications, and micro-credit industries are restricted to domestic
investors, but Ethiopia has attracted significant foreign investment in
textiles, leather, commercial agriculture and manufacturing. Under Ethiopia's
constitution, the state owns all land and provides long-term leases to the
tenants; land use certificates are now being issued in some areas so that
tenants have more recognizable rights to continued occupancy and hence make
more concerted efforts to improve their leaseholds. While GDP growth has
remained high, per capita income is among the lowest in the world. Ethiopia's
economy continues on its state-led Growth and Transformation Plan under the new
collective leadership that followed Prime Minister MELES’s death. The five-year
economic plan has achieved high single-digit growth rates through
government-led infrastructure expansion and commercial agriculture development.
Ethiopia in 2014 will continue construction of its Grand Renaissance Dam on the
Nile – a controversial five billion dollar effort to develop electricity for
domestic consumption and export
|
Source
: CIA |
|
Registered Name: |
SALEH MOHAMMED
MOKBEL |
|
Requested Name: |
SALEH MOHAMMED MOKBEL |
|
Other Names: |
None |
|
Physical Address: |
Merkato
Addis Industrial Area, Addis Ababa, |
|
Postal Address: |
P.
o. Box 9078 |
|
|
Addis
Ababa, |
|
Country: |
Ethiopia |
|
Phone: |
251-11-12758642/2754653 |
|
Fax: |
251-11-2753800 |
|
Email: |
None |
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Website: |
None |
|
Financial Index as of
December 2013 shows subject firm with a medium risk of credit. |
|
Legal Form: |
Sole Proprietorship |
|
|
Date Incorporated: |
11-March-2009 |
|
|
Reg. Number: |
ethiopia |
|
|
Nominal Capital |
ETB.
500,000 |
|
|
Subscribed Capital |
ETB.
500,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Saleh Mohammed Mokbel |
Director |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Registered to operate as exporters
of pulses, oilseeds, spices and other related products and importers of
hardware |
|
|
Imports: |
Asia, Middle East |
|
Exports: |
Europe |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|
|
|
|
Main Customers: |
Distributors, firms and organizations |
|
Employees: |
10 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Ethiopia |
|
Location: |
Rented premises, 1,500 square feet, |
|
Auditors: |
Information not
available. |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Ethiopian Birr (ETB.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 19.52
Ethiopian Birr |
|
|
Fiscal Year End: |
December 31, 2013 |
|
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
|
|
|
||
|
Financial Information not
Submitted |
|
|
|
|
|
|
|
|
|
|
|
Profit and Loss
(expressed in ETB.) |
||
|
|
|
2013 |
|
Sales |
|
5,000,000 |
|
_______________________________________________________________________ |
||
|
Bank Name: |
Bank
of Abyssinia |
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Branch: |
Ethiopia |
|
Comments: |
None |
|
|
|
|
TRADE REFERENCES |
|
|
Experiences: |
Good |
|
|
|
|
|
|
|
NOTARIAL BONDS |
None |
|
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.