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Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
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Name : |
AL MEHDAR AND ASSOCIATES TRADING CO LTD (BMC) |
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Registered Office : |
Bal Gais, Hadramout, 50391 Mukallah |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
2561/151 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import
and distribution of general foodstuff products and grocery items,
specialising in rice and sugar |
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No. of Employees : |
15 |
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) |
|
Yemen |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
YEMEN - ECONOMIC OVERVIEW
Malaysia, a middle-income
country, has transformed itself since the 1970s from a producer of raw
materials into an emerging multi-sector economy. Under current Prime Minister
NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move
farther up the value-added production chain by attracting investments in
Islamic finance, high technology industries, biotechnology, and services.
NAJIB's Economic Transformation Program (ETP) is a series of projects and
policy measures intended to accelerate the country's economic growth. The
government has also taken steps to liberalize some services sub-sectors. The
NAJIB administration also is continuing efforts to boost domestic demand and
reduce the economy's dependence on exports. Nevertheless, exports -
particularly of electronics, oil and gas, palm oil and rubber - remain a
significant driver of the economy. As an oil and gas exporter, Malaysia has
profited from higher world energy prices, although the rising cost of domestic
gasoline and diesel fuel, combined with sustained budget deficits, has forced
Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions
in energy and sugar subsidies and the announcement of the 2015 implementation
of a 6% goods and services tax. The government is also trying to lessen its
dependence on state oil producer Petronas. The oil and gas sector supplies
about 32% of government revenue in 2013. Bank Negara Malaysia (central bank)
maintains healthy foreign exchange reserves, and a well-developed regulatory
regime has limited Malaysia's exposure to riskier financial instruments and the
global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall
in commodity prices or a general slowdown in global economic activity because
exports are a major component of GDP. In order to attract increased investment,
NAJIB earlier raised possible revisions to the special economic and social
preferences accorded to ethnic Malays under the New Economic Policy of 1970,
but retreated in 2013 after he encountered significant opposition from Malay
nationalists and other vested interests. In September 2013 NAJIB launched the
new Bumiputra Economic Empowerment Program (BEEP), policies that favor and
advance the economic condition of ethnic Malays
|
Source
: CIA |
Company Name : AL MEHDAR AND ASSOCIATES TRADING
CO LTD (BMC)
Country of Origin : Yemen
Legal Form :
Limited Liability Partnership
Registration Date : 1992
Commercial
Registration Number : 2561/151
Issued Capital : YR
1,000,000
Paid up Capital : YR
1,000,000
Total Workforce : 15
Activities :
Distributors of general foodstuff products and grocery items.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Salim Al Suwaid, Sales Manager
AL MEHDAR AND
ASSOCIATES TRADING CO LTD (BMC)
Location : Bal Gais, Hadramout
PO Box : 50391
Town : Mukallah
Country : Yemen
Telephone : (967-5) 352723 / 305420 / 354596 /
234596 / 307227
Facsimile : (967-5) 354768 / 354341
Mobile : (967-77) 7382901
Email : bmc_almehdar@yahoo.com
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Mukallah.
Branch Office
(s)
Location Description
·
Aden Showroom
premises
Tel: (967-2) 249527
·
Sana’a Showroom
premises
Tel: (967-1) 253383
·
Sion Showroom
premises
Tel: (967-5) 405700
·
Taiz Showroom
premises
Name Position
·
Mohsin
Ali Al Mehdar Managing
Partner
·
Hussain
Mohamed Al Mehdar Partner
·
Mehdar
Abdullah Al Mehdar General
Manager
·
Mohamed
Hesham Al Mehdar Finance
Manager
·
Yasser
Ghassan Accountant
Date of Establishment : 1992
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 2561/151
Issued Capital : YR 1,000,000
Paid up Capital : YR 1,000,000
·
Mohsin
Ali Al Mehdar
·
Hussain
Mohamed Al Mehdar
·
Manarat
Al Wadi General Trading Co Ltd
·
Balhamdh
& Mehdat Yemeni Power Co (BMY)
·
Al
Mehdar Exchange Co
·
Hamdramout
Ready Mix Concrete
·
Al
Burak Express for Transport Co Ltd
·
4B
Company for Oil Services and Minerals Ltd
·
Al
Rwishan & Al Mehdar Co for Marketing
Activities: Engaged in the import and distribution of general
foodstuff products and grocery items, specialising in rice and sugar.
Import
Countries: Europe and the
Far East.
International
Suppliers:
· Mandra India
Brand Names: MEZZA AL MEHDAR, AL
MAZRA AL KHADRA, AL DOW and NASHAT NASA
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: Yemeni
Riyal (YR)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales YR 49,300,000 YR 50,135,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Central
Bank of Yemen
Assalam Zone
PO Box: 8087
Mukallah
Tel: (967-5) 301124
Fax: (967-5) 303291
No complaints
regarding subject’s payments have been reported.
Established in
1992, subject is involved in the import and distribution of general foodstuff
products and grocery items.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
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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 |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.