MIRA INFORM REPORT

 

 

Report Date :

16th May 2006

 

IDENTIFICATION DETAILS

 

Name :

AL HAMADI TRADING & CONTRACTING EST

 

 

Registered Office :

Al Hamadi Building

Darsait, Jibroo, 1266

Muscat 112, Sultanate of Oman

 

 

Date of Incorporation :

1994

 

 

Com. Reg. No.:

1005944

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Manufacture, processing and import of general foodstuffs, frozen foods, fish and dairy products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 200,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

SUMMARY

 

Company Name

AL HAMADI TRADING & CONTRACTING EST

Country of Origin

Sultanate of Oman

Legal Form

Sole Proprietorship

Registration Date

1994

Commercial Registration Number

1005944

Invested Capital

RO 50,000

Total Workforce

35

Line of Business

Manufacture, processing and import of general foodstuffs, frozen foods, fish and dairy products

Financial Condition

Undetermined

Payments

Nothing detrimental uncovered

 

 

 

 

 

COMPANY NAME

 

AL HAMADI TRADING & CONTRACTING EST

 

 

ADDRESS

 

Registered & Physical Address

 

Building      : Al Hamadi Building

Street                   :

Area            : Darsait, Jibroo

PO Box        : 1266

Town           : Muscat 112

Country      : Sultanate of Oman

Telephone   : (968) 24795565 / 24796152

Facsimile    : (968) 24702450

Email          : alhamadi@omantel.net.om

 

Premises

 

Subject operates from a medium sized suite of offices and a warehouse that are owned and located in the Suburban Business Area of Muscat.

 

 

KEY PRINCIPALS

 

Sheikh Abdullah Yousuf Ali Al Hamadi                Proprietor

 

Ibrahim Al Hamadi                                               General Manager

 

Ivan De Limo                                                        Assistant General Manager

 

Flynn De Limo                                                     Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1994

 

Legal Form                    : Mouassasa Khassa (Sole Proprietorship)

 

Commercial Reg. No.    : 1005944

 

Invested Capital            : RO 50,000

 

Sheikh Abdullah Yousuf Ali Al Hamadi is the sole proprietor of the business.

 

 

LINE OF BUSINESS

 

Operations : Engaged in the manufacture, processing and import of general foodstuffs, frozen foods, fish and dairy products.

 

Import Countries : India

 

Brand Names : ROYAL OMAN

 

Subject has a workforce of 35 employees.

 

 

FINANCIAL HIGHLIGHTS

 

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

 

 

BANKERS

 

Bank Muscat Al Ahli Al Omani

Mutrah Business District

PO Box : 134, Ruwi 112

Muscat

Tel : (968) 24703044

Fax : (968) 24793536

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000

 

Al Hamadi Trading & Contracting Est is engaged in the manufacture, processing and import of general foodstuffs, frozen foods, fish and dairy products.

 

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 and the above credit figure is within subject’s financial means.

 

Maximum suggested credit figure: US$ 200,000

 

 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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions