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Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MUSTAFA ABDUL KADER AHMED HAMSAN ESTABLISHMENT |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12.02.2013 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of textiles and ladies
garments. |
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No of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Yemen |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 :
MUSTAFA ABDUL KADER AHMED HAMSAN ESTABLISHMENT
Country of Origin :
Yemen
Legal Form :
Sole Proprietorship
Registration Date :
12th February 2013
Invested Capital :
YR 10,000,000
Total Workforce :
5
Activities :
Distributors of textiles and ladies garments
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Mustafa Abdul Kader Hamsan, Proprietor & General Manager
MUSTAFA ABDUL KADER AHMED HAMSAN ESTABLISHMENT
Registered &
Physical Address
Street : Sheikh
Abdullah Kuriat Street
Area : Crater
Town : Aden
Country : Yemen
Telephone : (967-2) 253957
Facsimile : (967-2) 255922
Mobile : (967-73)
3248910
Email : abomrad@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Aden.
Name Position
Mustafa Abdul Kader Hamsan Proprietor
& General Manager
Date of Establishment : 12th
February 2013
Legal Form : Sole
Proprietorship
Invested Capital : YR 10,000,000
Mr Mustafa Abdul Kader Hamsan is the sole proprietor of the business.
Abdul Kader Ahmed Hamsan
Sheikh Abdullah Street
Crater Area
Aden
Tel: (967-2) 253957
Fax: (967-2) 255922
Activities: Engaged in the import and distribution of textiles and ladies garments.
Import Countries: Europe and the Far East
Subject has a workforce of 5 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
Saba Islamic Bank
Aden
Tel: (967-2) 244267 / 244266
Unknown
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.43 |
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Euro |
1 |
Rs.79.40 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
|
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.