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Report No. : |
325685 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NILE SOFT DRINKS
FACTORY |
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|
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Registered Office : |
El Senaat Street, Omdurman Industrial Area, P O Box: 6109, Khartoum |
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Country : |
Sudan |
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Year of Establishment : |
1986 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Production of Soft
Drinks and Mineral Water. |
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No. of Employees : |
120 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Sudan |
C2 |
C2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
SUDAN - ECONOMIC OVERVIEW
Sudan is an extremely poor country that has experienced protracted
social conflict, civil war, and, in July 2011, the loss of three-quarters of
its oil production due to the secession of South Sudan. The oil sector had
driven much of Sudan's GDP growth since 1999. For nearly a decade, the economy
boomed on the back of rising oil production, high oil prices, and significant
inflows of foreign direct investment. Since the economic shock of South Sudan's
secession, Sudan has struggled to stabilize its economy and make up for the
loss of foreign exchange earnings. The interruption of oil production in South
Sudan in 2012 for over a year and the consequent loss of oil transit fees
further exacerbated the fragile state of Sudan’s economy. Sudan is also subject
to comprehensive US sanctions. Sudan is attempting to develop non-oil sources
of revenues, such as gold mining, while carrying out an austerity program to
reduce expenditures. The world’s largest exporter of gum Arabic, Sudan produces
75-80% of the world’s total output. Agriculture continues to employ 80% of the
work force. Sudan introduced a new currency, still called the Sudanese pound,
following South Sudan's secession, but the value of the currency has fallen
since its introduction. Khartoum formally devalued the currency in June 2012,
when it passed austerity measures that included gradually repealing fuel
subsidies. Sudan also faces rising inflation, which reached 47% on an annual
basis in November 2012, but subsided to 37% in 2014. Ongoing conflicts in
Southern Kordofan, Darfur, and the Blue Nile states, lack of basic
infrastructure in large areas, and reliance by much of the population on
subsistence agriculture keep close to half of the population at or below the
poverty line.
|
Source
: CIA |
Company Name : NILE SOFT
DRINKS FACTORY
Also Known As
: NILE SOFT DRINKS BOTTLING FACTORY
Country of Origin : Sudan
Legal Form :
Limited Liability Company
Registration Date : 1986
Issued Capital : SD
20,000,000
Paid up Capital : SD
20,000,000
Total Workforce : 120
Activities : Production of soft drinks and mineral water
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
NILE SOFT DRINKS
FACTORY
NILE SOFT DRINKS
BOTTLING FACTORY
Street : El
Senaat Street
Area : Omdurman Industrial Area
PO Box : 6109
Town : Khartoum
Country : Sudan
Telephone : (249-187) 253053
/ 253056 / 253057 / 253058 / 553971 / (249-155) 244215
Facsimile : (249-187) 253054
/ 249-155 249090
Mobile : (249-912) 390213 / 320381
Email : stim@stim-sudan.com / taiasanchez@yahoo.com.ph
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Khartoum.
Name Position
·
Omar
Elias Bashir Managing
Director
·
Hisham Othman Hamed Director
·
Gaffar
Mahmoud General
Manager
Date of Establishment : 1986
Legal Form :
Limited Liability Company
Issued Capital : SD 20,000,000
Paid up Capital : SD 20,000,000
·
Omar
Elias Bashir
·
Hisham Othman Hamed
Activities: Engaged in the production of soft drinks
and mineral water.
Production
Capacity:
80,000 cases per day
Import
Countries: Middle East and
Asia
Brand Names: STIM APPLE, MAAZA
MANGO, ROYAL and ANHAR
Subject has a
workforce of approximately 120 employees.
Companies registered
in Sudan are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
·
Tadamon
Islamic Bank
PO Box: 846
Omdurman
Tel: (249-187) 577330
Fax: (249-187) 555733
No complaints
regarding subject’s payments have been reported.
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Please note that we
were unable to contact the subject directly during our investigation.
Nile Soft Drinks
Factory has been in business since 1986 and is engaged in the production of
soft drinks and mineral water under the brand names of “Stim Apple”, “Maaza Mango”, “Royal”, and “Anhar”.
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.94 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
|
Report Prepared
by : |
NIT |
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.