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Report No. : |
350968 |
|
Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ALI AHMED MOHAMMAD THABIT AL DALOUS |
|
|
|
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Registered Office : |
Al Seelah Street, Al Sheikh Othman District, Aden |
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|
|
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Country : |
Yemen |
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|
|
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Year of Establishment : |
1997 |
|
|
|
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Legal Form : |
Sole
Proprietorship |
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|
|
|
Line of Business : |
Subject is engaged in the import and distribution of general
foodstuffs, including rice, pulses and beverages. |
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|
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No. of Employee : |
6 |
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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|
|
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Payment Behaviour : |
No complaints |
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|
|
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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) |
|
Yemen |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
YEMEN - ECONOMIC OVERVIEW
Yemen is a low-income country that is highly dependent on declining oil resources for revenue. Oil and gas revenues account for roughly 25% of GDP and 65% of government revenue. Yemen has tried to counter the effects of its declining oil resources and continuing attacks on its oil pipelines by diversifying its economy through a 2006 reform program that was designed to bolster non-oil sectors of the economy and foreign investment. In October 2009, Yemen exported its first liquefied natural gas as part of this diversification effort. In January 2010, the international community established the Friends of Yemen group that aimed to support Yemen's efforts toward economic and political reform. In 2012, the Friends of Yemen pledged nearly $7 billion in assistance to Yemen. The Yemeni Government also endorsed a Mutual Accountability Framework to facilitate the efficient implementation of donor aid. The unrest that began in early 2011 caused GDP to plunge almost 11% in that year. Progress toward achieving stability has been slow and uneven. Yemen continues to face difficult long-term challenges, including declining water resources, high unemployment, severe food scarcity, and a high population growth rate. The Yemeni Government regularly faces annual budget shortfalls. In July 2014, the government eliminated some fuel subsidies that accounted for approximately 25% of government spending in 2013; and in August 2014, the IMF approved a three-year, $570 million Extended Credit Facility for Yemen. Deteriorating security restricts economic growth and the provision of government services.
|
Source
: CIA |
Company Name :
ALI AHMED MOHAMMAD THABIT AL DALOUS
Country of Origin :
Yemen
Legal Form :
Sole Proprietorship
Registration Date :
1997
Invested Capital : YR 20,000,000
Total Workforce :
6
Activities :
Distributors of general foodstuffs
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
Person Interviewed :
Muaad Ali, Commercial Manager
ALI AHMED MOHAMMAD
THABIT AL DALOUS
Street : Al Seelah
Street
Area : Al Sheikh
Othman District
Town : Aden
Country : Yemen
Telephone : (967-2) 386580
/ 384342
Facsimile : (967-2) 395869
Mobile : (967-77)
2739670
Email : muaad605@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Aden.
Name Position
· Ali Ahmed Mohammad
Thabit Al Dalous Proprietor
& General Manager
· Muaad Ali Commercial
Manager
Date of
Establishment : 1997
Legal Form : Sole
Proprietorship
Invested Capital : YR 20,000,000
Mr Ali Ahmed Mohammad Thabit Al Dalous is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of general foodstuffs, including
rice, pulses and beverages.
Import Countries: Pakistan and Saudi Arabia
International Suppliers:
· Oraab Exim Co Pakistan
· Arabian Modern
Industries Saudi Arabia
Subject has a workforce of 6 employees.
Companies registered in Yemen are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Arab Bank Limited
Omer Al Mukhter Street
Maala
PO Box: 5130
Aden
Tel: (967-2) 387361
Fax: (967-2) 387531
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.55 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
|
YER |
1 |
Rs. 0.31 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
|
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.