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Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
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Name : |
SIMAL GROUP LTD |
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Registered Office : |
Street 10 H 100, Wazir Akbar Khan, POB 6000 |
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Country : |
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Date of Incorporation : |
24.06.1987 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
The subject is involved in local trucking with storage. |
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No of Employees : |
Not Available |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Afghanistan |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AFGHANISTAN - ECONOMIC OVERVIEW
Afghanistan's economy is
recovering from decades of conflict. The economy has improved significantly since
the fall of the Taliban regime in 2001 largely because of the infusion of
international assistance, the recovery of the agricultural sector, and service
sector growth. Despite the progress of the past few years, Afghanistan is
extremely poor, landlocked, and highly dependent on foreign aid. Much of the
population continues to suffer from shortages of housing, clean water,
electricity, medical care, and jobs. Criminality, insecurity, weak governance,
lack of infrastructure, and the Afghan Government's difficulty in extending
rule of law to all parts of the country pose challenges to future economic
growth. Afghanistan's living standards are among the lowest in the world. The
international community remains committed to Afghanistan's development, pledging
over $67 billion at nine donors' conferences between 2003-10. In July 2012, the
donors at the Tokyo conference pledged an additional $16 billion in civilian
aid through 2015. Despite this help, the Government of Afghanistan will need to
overcome a number of challenges, including low revenue collection, anemic job
creation, high levels of corruption, weak government capacity, and poor public
infrastructure. Afghanistan's growth rate slowed markedly in 2013.
|
Source
: CIA |
In absence of financials, no credit limit could be recommended.
Name of Company: SIMAL GROUP LTD
Company acronym: -
Headquarter Address: Street 10 H
100, Wazir Akbar Khan
POB 6000 Kabul 24000, Afghanistan
Tel: +93 796244466 / 797276569 / 3796661742
E-mail: Kabul@simalgroup.com
Legal Form: Limited
Liability Company
Legal Address: Street 10 H 100, Wazir Akbar Khan
POB 6000 Kabul 24000, Afghanistan
License No: D-48571
Registration Date: 24/06/1987
Capital: 25,200,000.00
AFN
Registration: Kabul
Nasery family
The subject is involved in local trucking with storage.
-
Mr. Mujtaba Nassery –Managing Director
Mr. Khushnood Nabizada – Manager
Mr. Yousaf Pirzada- Manager
Import from: -
Import term: -
Simal Group Construction ( SGC)
Afghanistan
|
|
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|
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Simal International Transport Services Company
Afghanistan
Afghan United General Insurance Corporation
Afghanistan
In the interview with Mr. Yousaf Pirzada- Manager , he confirmed it.
The company being investigated is considered by local reporters to be a
Medium
Trade Risk and to be fair.
All of the owners / shareholders have an active participation in the running
of the business.
Old business
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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.