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Report No. : |
321447 |
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Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
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Name : |
NASIR KHALIL OIL SEEDS AND EXPORTER |
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Registered Office : |
Adama/Nazareth,
P. o. Box 3388, Adama |
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Country : |
Ethiopia
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Date of Incorporation : |
10.06.2012 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as
exporters of pulses, oilseeds, spices and other related products |
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No. of Employee : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Ethiopia |
B2 |
B2 |
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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 |
ETHIOPIA - ECONOMIC OVERVIEW
Ethiopia's economy is based
on agriculture but the government is pushing to diversify into manufacturing,
textiles, and energy generation.. Coffee is a major export crop. The
agricultural sector suffers from poor cultivation practices and frequent
drought, but recent joint efforts by the Government of Ethiopia and donors have
strengthened Ethiopia's agricultural resilience, contributing to a reduction in
the number of Ethiopians threatened with starvation. The banking, insurance,
telecommunications, and micro-credit industries are restricted to domestic
investors, but Ethiopia has attracted significant foreign investment in
textiles, leather, commercial agriculture and manufacturing. Under Ethiopia's
constitution, the state owns all land and provides long-term leases to the
tenants; land use certificates are now being issued in some areas so that
tenants have more recognizable rights to continued occupancy and hence make
more concerted efforts to improve their leaseholds. While GDP growth has
remained high, per capita income is among the lowest in the world. Ethiopia's
economy continues on its state-led Growth and Transformation Plan under the new
collective leadership that followed Prime Minister MELES’s death. The five-year
economic plan has achieved high single-digit growth rates through
government-led infrastructure expansion and commercial agriculture development.
Ethiopia in 2014 will continue construction of its Grand Renaissance Dam on the
Nile – a controversial five billion dollar effort to develop electricity for
domestic consumption and export.
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Source
: CIA |
Company
name
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Registered Name: |
NASIR KHALIL OIL
SEEDS AND EXPORTER |
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Requested Name: |
NASIR KHALIL OIL SEEDS AND EXPORTER |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Adama/Nazareth |
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Postal Address: |
P.
o. Box 3388 |
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Adama, |
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Country: |
Ethiopia |
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Phone: |
251-223319395 |
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Fax: |
251-223319395 |
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Email: |
None |
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Website: |
None |
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CREDIT
OPINION
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Financial Index as of
December 2013 shows subject firm with a medium risk of credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
10-June-2012 |
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Reg. Number: |
Ethiopia |
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Nominal Capital |
ETB.
500,000 |
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Subscribed Capital |
ETB.
500,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Nasir Khalil |
Director |
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RELATED
COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as
exporters of pulses, oilseeds, spices and other related products |
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Imports: |
None |
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Exports: |
Asia, Middle East |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
Distributors, stores, outlets etc |
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Employees: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Ethiopia |
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Location: |
Rented premises, 2,000 square feet, |
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AUDITORS
AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Ethiopian Birr (ETB.) |
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Approx. Ex. Rate: |
1 US Dollar = 20.21
Ethiopian Birr |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in ETB.) |
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2013 |
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Sales |
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10,000,000 |
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BANK
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Bank Name: |
Commercial
Bank of Ethiopia |
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Branch: |
Ethiopia |
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Comments: |
None |
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COMMENTS
/ ADDITIONAL INFORMATION
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This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.88 |
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1 |
Rs.97.21 |
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Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.