MIRA INFORM REPORT
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Report Date : |
4th May, 2006 |
IDENTIFICATION DETAILS
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Name : |
IBN
DEHAIL TRADING & SERVICE |
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Registered Office : |
Basar Street, Salalah, P.O.
Box No. 30, Thumrait 222, Sultanate of Oman |
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Date of Incorporation : |
20th
May 2000 |
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Com. Reg. No.: |
2154706 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distributors of spare parts
and accessories for heavy industrial equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
IBN DEHAIL TRADING & SERVICE |
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Country of Origin |
Sultanate of Oman |
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Legal Form |
Sole Proprietorship |
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Registration Date |
20th May 2000 |
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Commercial Registration Number |
2154706 |
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Membership Number |
14963 |
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Invested Capital |
RO 15,000 |
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Total Workforce |
6 |
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Line of Business |
Distributors of spare parts and accessories for heavy industrial equipment. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
IBN DEHAIL TRADING & SERVICE
ADDRESS
Registered & Physical Address
Street : Basar Street
Area : Salalah
PO Box : 30
Town : Thumrait 222
Country : Sultanate of Oman
Telephone : (968-92) 257135 / 577419
Facsimile : (968-92) 577419
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Thumrait.
Note
Subject is currently in the process of re-locating its head office to Muscat.
KEY PRINCIPALS
Salem Saeed Ali Jedad Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 20th May 2000
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 2154706
Membership No. : 14963
Invested Capital : RO 15,000
Mr Salem Saeed Ali Jedad is the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged in the import and distribution
of spare parts and accessories for heavy industrial equipment.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Riyal Omani (RO)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue RO 400,000 RO 465,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Oman International Bank SAOG
Al Khuwair
PO Box : 1727, Seeb 111
Muscat
Tel : (968-24) 682500
Fax : (968-24) 682800
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 15,000,000:
Established in 2000, subject is owned and managed by Mr Salem Saeed Ali Jedad who is well respected in the local business community.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.
Maximum suggested credit figure: US$ 100,000
RATING EXPLANATIONS
RATING
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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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |