MIRA INFORM REPORT

 

 

 

 

Report No. :

318757.2

Report Date :

12.05.2015

 

 

ADDITIONAL DETAILS:

 

M/S. Calim Contrast Construction Company,

Qaran Tower, Nr. Dahabshil Center,

Somalia Land, Somalia.

 

Mob. No.: 7791680

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

No Trace

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Somalia

C2

C2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SOMALIA - ECONOMIC OVERVIEW

 

Despite the lack of effective national governance, Somalia maintains an informal economy largely based on livestock, remittance/money transfer companies, and telecommunications. Agriculture is the most important sector with livestock normally accounting for about 40% of GDP and more than 50% of export earnings. Nomads and semi-pastoralists, who are dependent upon livestock for their livelihood, make up a large portion of the population. Livestock, hides, fish, charcoal, and bananas are Somalia's principal exports, while sugar, sorghum, corn, qat, and machined goods are the principal imports. Somalia's small industrial sector, based on the processing of agricultural products, has largely been looted and the machinery sold as scrap metal. Telecommunication firms provide wireless services in most major cities and offer the lowest international call rates on the continent. Mogadishu's main market offers a variety of goods from food to electronic gadgets. Hotels continue to operate and are supported with private-security militias. Somalia's government lacks the ability to collect domestic revenue, and arrears to the IMF have continued to grow. Somalia's capital city - Mogadishu - has witnessed the development of the city's first gas stations, supermarkets, and flights between Europe (Istanbul-Mogadishu) since the collapse of central authority in 1991. This economic growth has yet to expand outside of Mogadishu, and within the city, security concerns dominate business. In the absence of a formal banking sector, money transfer/remittance services have sprouted throughout the country, handling up to $1.6 billion in remittances annually, although international concerns over the money transfers into Somalia currently threatens these services.

 

Source : CIA

 

 

 

 

Company Name

 

 

Requested Name:

CALIM CONTRAST CONSTRUCTION COMPANY

Other Names:

None

 

CREDIT OPINION

 

 

We are having difficulty in getting factual information on Subject Company. 

 

A Search was conducted with the registry of companies we are having difficulty in getting subject’s file at the Registrar of companies’ office.  It should however be noted that at the moment the office of the Registrar of companies is not very efficient and hence records are not properly maintained and files are missing.  The Index at the Registrar of Companies is not up to date.

 

A Search was conducted with the Chamber of commerce, trade Ministry, Physical address provided i.e. Qaran Tower, Nr Dahshil Centre  and also with the Telephone directories,

.Subject is not listed in any telephone or trade directory and thus could not assist in tracing the company.

 

Subject ownership is not known.

 

In the view that we have exhaustively traced the company with no success.

 

We recommend no credit.

 

 

Important Note:

 

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a supplementary report would be sent without any additional cost.

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

 

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