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Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAHMAN
ENTERPRISES INC. |
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Registered Office : |
10600 Boomer Circle, Dallas, TX 75238 |
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Country : |
United States |
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Date of Incorporation : |
15.08.2003 |
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Legal Form : |
Corporation – Profit |
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|
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Line of Business : |
importer and wholesaler
of Food Products |
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|
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No of Employees : |
02 |
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 |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United States |
A1 |
A1 |
|
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 |
united StaTes ECONOMIC OVERVIEW
The
US has the largest and most technologically powerful economy in the world, with
a per capita GDP of $49,800. In this market-oriented economy, private
individuals and business firms make most of the decisions, and the federal and
state governments buy needed goods and services predominantly in the private
marketplace. US business firms enjoy greater flexibility than their
counterparts in Western Europe and Japan in decisions to expand capital plant,
to lay off surplus workers, and to develop new products. At the same time, they
face higher barriers to enter their rivals' home markets than foreign firms
face entering US markets. US firms are at or near the forefront in
technological advances, especially in computers and in medical, aerospace, and
military equipment; their advantage has narrowed since the end of World War II.
The onrush of technology largely explains the gradual development of a
"two-tier labor market" in which those at the bottom lack the
education and the professional/technical skills of those at the top and, more
and more, fail to get comparable pay raises, health insurance coverage, and
other benefits. Since 1975, practically all the gains in household income have
gone to the top 20% of households. Since 1996, dividends and capital gains have
grown faster than wages or any other category of after-tax income. Imported oil
accounts for nearly 55% of US consumption. Crude oil prices doubled between
2001 and 2006, the year home prices peaked; higher gasoline prices ate into
consumers' budgets and many individuals fell behind in their mortgage payments.
Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures
more than doubled in the same period. Besides dampening the housing market,
soaring oil prices caused a drop in the value of the dollar and a deterioration
in the US merchandise trade deficit, which peaked at $840 billion in 2008. The
sub-prime mortgage crisis, falling home prices, investment bank failures, tight
credit, and the global economic downturn pushed the United States into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, in October 2008 the US Congress established a $700
billion Troubled Asset Relief Program (TARP). The government used some of these
funds to purchase equity in US banks and industrial corporations, much of which
had been returned to the government by early 2011. In January 2009 the US
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012 the federal government reduced the growth of spending
and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required
major shifts in national resources from civilian to military purposes and
contributed to the growth of the budget deficit and public debt. Through 2011,
the direct costs of the wars totaled nearly $900 billion, according to US
government figures. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries. In March 2010, President
OBAMA signed into law the Patient Protection and Affordable Care Act, a health
insurance reform that was designed to extend coverage to an additional 32
million American citizens by 2016, through private health insurance for the
general population and Medicaid for the impoverished. Total spending on health
care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In
July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer
Protection Act, a law designed to promote financial stability by protecting
consumers from financial abuses, ending taxpayer bailouts of financial firms,
dealing with troubled banks that are "too big to fail," and improving
accountability and transparency in the financial system - in particular, by
requiring certain financial derivatives to be traded in markets that are
subject to government regulation and oversight. In December 2012, the Federal
Reserve Board (Fed) announced plans to purchase $85 billion per month of
mortgage-backed and Treasury securities in an effort to hold down long-term
interest rates, and to keep short term rates near zero until unemployment drops
below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that
it would begin scaling back long-term bond purchases to $75 billion per month
in January 2014 and reduce them further as conditions warranted; the Fed,
however, would keep short-term rates near zero so long as unemployment and
inflation had not crossed the previously stated thresholds. Long-term problems
include stagnation of wages for lower-income families, inadequate investment in
deteriorating infrastructure, rapidly rising medical and pension costs of an
aging population, energy shortages, and sizable current account and budget
deficits.
|
Source : CIA |
Company name: FAHMAN ENTERPRISES INC.
Mailing address: 209 Crystal Court,
Richardson, TX 75081 – USA
Headquarters: 10600 Boomer Circle,
Dallas, TX 75238 - USA
Telephone: +1
214-597-5133
Fax: +1 972-808-0004
Website: www.fhmnntrp1.bloombiz.com/
Corporate ID#: 0800235670
State: Texas
Judicial form: Corporation – Profit
Date incorporated: 08-15-2003
Stock: 1,000
shares common
Value: USD
1= par value
Name of manager: Muhammad
Najeeb KHAN
Business:
The Company is importer and wholesaler of food products.
Office of the Foreign Assets Control (OFAC):
· The company is not listed on the OFAC list.
The
Specially Designated Nationals (SDN) List is a publication of OFAC which lists
individuals and organizations with whom United States citizens and permanent
residents are prohibited from doing business.
Suppliers include:
ISMAIL INDUSTRIES LIMITED
17 BANGLORE TOWN MAIN SHAREA-E-FAISAL, KARACHI PAKISTAN
AMIR RICE TRADERS
MARI THAKRAN ROAD KMOKE GUJRAWALA DIST PAKISTAN
Texas Taxpayer ID: 32012081678
Staff: 2
Operations & branches:
At the headquarters, we
find a warehouse and office, owned by Muhammad Najeeb KHAN.
Account Number: 99081030290000000
Market value: USD 50,420=
Shareholders:
Muhammad Najeeb KHAN is a
major shareholder.
Management:
Muhammad Najeeb KHAN is the
President, Director and CEO.
As far as we know, he is not involved in other local corporations.
Subsidiaries
And Partnership:
None
In United States, privately
held corporations are not required to publish any financials.
We called and left a
message on the voicemail but nobody returned the call.
We sent a mail but no
answer received.
Outside sources (bank) gave
estimate sales for year 2013 in the range of USD 1,500,000=
The business is profitable.
Banks: Wells Fargo Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary (UCC):
File number: 10-0020614054
Date filed: 07-19-2010
Lapse date: 07-20-2015
Secured Party: Wells Fargo Bank
300 Tri-State International, Lincolnshire,
IL 60069
File number: 14-0005548249
Date filed: 02-20-2014
Lapse date: 02-20-2019
Secured Party: Toyota Motor Credit Corporation
PO Box 3457, Torrance, CA 90510
Trade references:
Date reported: March 2014
High credit: USD 3,000
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Office supply
Paying status: On terms
Date reported: March 2014
High credit: USD 5,000
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Payroll
Paying status: As agreed
Date reported: March 2014
High credit: USD 300
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on terms.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company is developing
its business.
The bank confirmed an
account on 5 figures low.
The Company is in good
standing.
This means that all local and
federal taxes were paid on due date.
Last report was filed on
02-25-2013.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
UK Pound |
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.