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Report No. : |
346878 |
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Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NEEPAM COMMERCIAL ENTERPRISES |
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Registered Office : |
Souq Omdurman 1004 |
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Country : |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of bicycle, motorcycle and rickshaw spare parts as well as general foodstuffs. |
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No. of Employees : |
7 |
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 : |
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 |
D |
D |
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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 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.
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Source
: CIA |
Company Name : NEEPAM COMMERCIAL ENTERPRISES
Country of Origin : Sudan
Legal Form : Sole Proprietorship
Registration Date : 1998
Invested Capital : SD 500,000
Total Workforce : 7
Activities : Distributors of bicycle, motorcycle and rickshaw spare parts as well as
general foodstuffs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Pardip Mithani, Proprietor & General Manager
NEEPAM COMMERCIAL
ENTERPRISES
Location : Souq Omdurman
PO Box : 1004
Town : Omdurman
Country : Sudan
Telephone : (249-187) 572356
Facsimile : (249-187) 572356
Email : nepam.sd@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Omdurman.
Name Nationality Position
·
Pardip Mithani Sudanese Proprietor
& General Manager
·
Nehit
Mithani - Assistant
General Manager
Date of Establishment : 1998
Legal Form :
Sole Proprietorship
Invested Capital
: SR 500,000
Mr
Pardip Mithani is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
bicycle, motorcycle and rickshaw spare parts as well as general foodstuffs.
Import
Countries: China and India
International
Suppliers:
·
Shanghai
Light Industries China
·
KMS
Export India
·
Mithani
Chem India
Subject has a
workforce of 7 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.
·
Tadamon
Islamic Bank
PO Box: 846
Omdurman
Tel: (249-187) 577330
Fax: (249-187) 555733
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.64.95 |
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|
1 |
Rs.99.73 |
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Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.