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Report No. : |
314178 |
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Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
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Name : |
TERAB ELECTRIC WORKS |
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Registered Office : |
Al Huria Street, Khartoum |
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Country : |
Sudan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
7374 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of electrical products, wire,
lights and switches. |
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No. of Employees : |
7 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Sudan |
C2 |
C2 |
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Risk Category |
ECGC
Classification |
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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 |
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 25% in 2013. 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 :
TERAB ELECTRIC WORKS
Country of Origin :
Sudan
Legal Form :
Sole Proprietorship
Registration Date :
1980
Commercial Registration Number :
7374, Khartoum
Invested Capital :
SDG 200,000
Total Workforce :
7
Activities :
Wholesalers and retailers of electrical products, wire, lights and switches.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Abdul Illah Idriss, Sales Executive
TERAB ELECTRIC WORKS
Registered &
Physical Address
Location : Al Huria
Street
Town : Khartoum
Country : Sudan
Telephone : (249-183)
775213 / 785131
Facsimile : (249-183)
785131
Mobile : (249-912)
301505 / 993570
Premises
Subject operates from a small suite of offices that are owned and
located in the Central Business Area of Khartoum.
Name Position
Omar Ahmed Babikr Terab Proprietor
& General Manager
Al Sir Omar Ahmed Babikr Terab Assistant
General Manager
Abdul Illah Idriss Sales
Executive
Date of Establishment : 1980
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 7374, Khartoum
Invested Capital : SDG 200,000
Mr Omar Ahmed Babikr Terab is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of electrical products, wire,
lights and switches.
Import Countries: Europe, Saudi Arabia, Pakistan, China and the
United States of America.
International Suppliers:
Al Madinah Lighting Factory Saudi Arabia
Al Khaleej Fans Pakistan
Brand Names: ULCO, GE and BRILLIANT
Operating Trend: Steady
Subject has a workforce of 7 employees.
Financial highlights provided by local sources are given below:
Currency: Sudanese Pounds (SDG)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales SDG
19,400,000 SDG
20,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Export Development Bank
Eljamhoria Street
PO Box: 3575
Khartoum
No complaints regarding subject’s payments have been reported.
Established in 1980, subject is involved in the wholesale and retail of electrical
products, wire, lights and switches.
According to local sources subject is making steady progress in the
local business market and nothing detrimental has been reported regarding 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.62.34 |
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|
1 |
Rs.92.65 |
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Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.