MIRA
INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL RAFDAIN UNITED TRADING EST |
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Registered Office : |
Al Seeb Area, P O Box 390, Muscat 121 |
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Country : |
Sultanate of Oman |
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Date of Incorporation : |
30.11.2005 |
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Com. Reg. No.: |
1/81111/8 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of General Foodstuff Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL RAFDAIN UNITED TRADING EST
Country of Origin : Sultanate of Oman
Legal Form : Sole Proprietorship
Registration Date : 30th November 2005
Commercial Registration Number : 1/81111/8
Membership Number : 55489
Invested Capital : RO 21,000
Total Workforce : 5
Line of Business : Distributors of general foodstuff products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL RAFDAIN UNITED TRADING EST
ADDRESS
Registered & Physical Address
Location :
Al Seeb Area
PO Box :
390
Town :
Muscat 121
Country :
Sultanate of Oman
Telephone :
(968-24) 427081
Facsimile :
(968-24) 427082
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Muscat.
KEY PRINCIPALS
· Majid Hamoud Hamd
Al Ansar Proprietor
& General Manager
· Jawar Hamoud Hamd
Al Ansar Assistant
General Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 30th
November 2005
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 1/81111/8
Membership No. : 55489
Invested Capital : RO 21,000
Mr Majid Hamoud Hamd Al Ansar is the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged in the
import and distribution of general foodstuff products.
Import Countries : Europe and GCC
countries.
Subject has a workforce of 5 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
·
Oman International Bank SAOG
Al
Khuwair
PO Box :
1727
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$ 150,000:
Established in 2005, subject is owned and managed by Mr Majid Hamoud
Hamd Al Ansar who is well respected in the local business community.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 100,000
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)