3decades

MIRA INFORM REPORT

Report No. :	491306
Report Date :	13.02.2018

IDENTIFICATION DETAILS

Name :	UNDP SOUTH SUDAN

Registered Office :	Ministries Road, PO Box 410, Juba

Country :	Sudan

Date of Incorporation :	1988

Legal Form :	Non-Government Entity

Line of Business :	Subject goal is to help creating more resilient communities and reinvigorated local economies; strengthening peace and governance; and empowering women and girls. Subject aims to do this by supporting the Government to manage public finances in an environment of respect for the rule of law, with an accountable government to deliver inclusive economic growth.

No. of Employees :	250

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

Status :	Satisfactory

Payment Behaviour :	No Complaints

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

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Sudan

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SUDAN - ECONOMIC OVERVIEW

Sudan 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. 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.

Sudan was subject to comprehensive US sanctions, which were lifted in October 2017. Sudan is attempting to develop non-oil sources of revenues, such as gold mining and agriculture, 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 high inflation, which reached 47% on an annual basis in November 2012 but fell to about 35% per year in 2017.

Source : CIA

SUMMARY

Company Name : UNDP SOUTH SUDAN

Also Known As : UNITED NATIONS DEVELOPMENT PROGRAMME SOUTH SUDAN

Country of Origin : South Sudan

Legal Form : Non-Government Entity

Registration Date : 1988

Total Workforce : 250

Activities : Creating more resilient communities and reinvigorated local economies

Financial Condition : Undetermined

Payments : No Complaints

COMPANY NAME

UNDP SOUTH SUDAN

ALSO KNOWN AS

UNITED NATIONS DEVELOPMENT PROGRAMME SOUTH SUDAN

ADDRESS

Registered & Physical Address

Location : Ministries Road

PO Box : 410

Town : Juba

Country : South Sudan

Telephone : (211-910) 401011

Email : info.ss@undp.org

Premises

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Juba.

KEY PRINCIPALS

Name Position

Kamil Kamaluddeen Country Director

LEGAL FORM & OWNERS

Date of Establishment : 1988

Legal Form : Non-Government Entity

OPERATIONS

Activities: UNDP’s goal is to help creating more resilient communities and reinvigorated local economies; strengthening peace and governance; and empowering women and girls. UNDP South Sudan aims to do this by supporting the Government to manage public finances in an environment of respect for the rule of law, with an accountable government to deliver inclusive economic growth.

Subject has a workforce of approximately 250 employees.

FINANCIAL DATA

Companies registered in South Sudan are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

Ivory Bank Plc

Juba 211

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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	INR 64.28
UK Pound	1	INR 89.02
Euro	1	INR 78.93
SDD	1	INR 3.56

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA

Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.