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Report No. : |
346881.2 |
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Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
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Name : |
WAHBY MUSTAFA ENTERPRISES |
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Registered Office : |
Bahari Al Mahata Alsta, Alhaj Youssif Bus Station, Bahari, Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
2011 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of consumable products,
specializing in safety matches and toothbrushes. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Unknown |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Sudan |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 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 :
WAHBY MUSTAFA ENTERPRISES
Country of Origin :
Sudan
Legal Form :
Sole Proprietorship
Registration Date :
2011
Invested Capital :
SD 5,000
Total Workforce : 5
Activities :
Distributors of consumable products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
WAHBY MUSTAFA ENTERPRISES
Registered &
Physical Address
Street : Bahari Al
Mahata Alsta
Area : Alhaj Youssif
Bus Station, Bahari
Town : Khartoum
Country : Sudan
Mobile : (249-912)
937198 / 139160 / (249-903) 666999
Email : wahbymustafa2@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Khartoum.
Name Position
Wahby Mustafa Sidiq Proprietor
& General Manager
Date of Establishment : 2011
Legal Form : Sole
Proprietorship
Invested Capital : SD 5,000
Mr Wahby Mustafa Sidiq is the sole proprietor of the business.
Activities: Engaged in the import and distribution of consumable products,
specialising in safety matches and toothbrushes.
Import Countries: Europe and the Far East.
Subject has a workforce of 5 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.
Export Development Bank
Main Branch
Khartoum
No complaints regarding subject’s payments have been reported.
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.57 |
|
|
1 |
Rs.101.13 |
|
Euro |
1 |
Rs.71.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
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Report Prepared
by : |
TPT |
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 |
|
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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.