MIRA INFORM REPORT
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Report Date : |
16th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AL WASMAH TRADING CENTER |
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Registered Office : |
Main Street 490 & 2177, Seeb 121 Sultanate
of Oman |
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Date of Incorporation : |
1st
September 1996 |
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Com. Reg. No.: |
1/54067/0 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Engaged
as general decoration contractors |
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 |
AL WASMAH TRADING CENTER |
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Country of Origin |
Sultanate of Oman |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1st September 1996 |
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Commercial Registration Number |
1/54067/0 |
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Membership Number |
5110 |
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Invested Capital |
RO 50,000 |
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Total Workforce |
17 |
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Line of Business |
General decoration contractors. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL WASMAH TRADING CENTER
ADDRESS
Registered & Physical Address
Location : Main Street
PO Box : 490 & 2177
Town : Seeb 121
Country : Sultanate of Oman
Telephone : (968) 24425967
Facsimile : (968) 24425967
Mobile : (968) 99384310 / 99339762
Email : hafid7@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Seeb.
KEY PRINCIPALS
Hafiz Saif Al Marouky Proprietor & General Manager
M S Anglea Technical Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st September 1996
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 1/54067/0
Membership No. : 5110
Invested Capital : RO 50,000
Mr Hafiz Saif Al Marouky is the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged as general decoration
contractors.
Operating Trend : Steady
Subject has a workforce of 17 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 560,000 RO 625,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Bank of Muscat
Al Rakha Street
PO Box : 109
Muscat
Tel : (968-24) 736565
Fax : (968-24) 736187
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 1996, subject is owned and managed by Mr Hafiz Saif Al Marouky 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 |