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Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
MOHAMED ABDULLAH AL HOBAISHI TRADING CORPORATION |
|
|
|
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Registered Office : |
Taiz Street, Sana’a |
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|
|
|
Country : |
Yemen |
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|
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Year of Establishment : |
1994 |
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Com. Reg. No.: |
2121 |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Import and Distribution
of electrical equipment, apparatus and wiring supplies. |
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|
|
|
No. of Employees : |
12 |
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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|
|
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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) |
|
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 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 : MOHAMED
ABDULLAH AL HOBAISHI TRADING CORPORATION
Country of Origin : Yemen
Legal Form :
Sole Proprietorship
Registration Date :
1994
Commercial
Registration Number : 2121
Invested Capital :
YR 2,000,000
Total Workforce : 12
Activities :
Distributors of electrical equipment, apparatus and wiring supplies.
Financial Condition : Undetermined
Payments : Nothing
detrimental uncovered
Person Interviewed : Ismail Mohamed
Ali Abdullah Abdullah Al Hobaishi, Assistant General
Manager
MOHAMED ABDULLAH AL
HOBAISHI TRADING CORPORATION
Location : Taiz Street
Town : Sana’a
Country : Yemen
Telephone : (967-1) 266378 / 245059 / 213104 /
245176
Facsimile : (967-1) 213926
Mobile : (967-77) 7268294 / (967-73)
246738
Email : amnhd@y.net.ye
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Sana’a.
Branch Office
(s)
Location Description
·
Al
Metraq Street Office
premises
Hodeidah
Name Position
·
Ameen
Mohamed Ali Abdullah Abdulla Al Hobaishi Proprietor
·
Radwan
Mohamed Ali Abdullah Abdullah Al Hobaishi General
Manager
·
Ismail
Mohamed Ali Abdullah Abdullah Al Hobaishi Assistant
General Manager
Date of Establishment : 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 2121
Invested Capital : YR 2,000,000
Mr. Ameen Mohamed
Ali Abdullah Al Hobaishi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
electrical equipment, apparatus and wiring supplies.
Import
Countries: India and China
International
Suppliers:
·
Hong
Kong Yemi China
·
Raj
Export India
Subject has a
workforce of 12 employees.
Companies
registered in Yemen are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
National
Bank of Yemen
Al Quaa Area
Sana’a
Tel: (967-1) 296278
Fax: (967-1) 296277
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.61.46 |
|
|
1 |
Rs.98.21 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.