MIRA
INFORM REPORT
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Report Date : |
25.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL SEER TRADING
AGENCIES |
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Registered Office : |
Al Azaiba, P O Box 1936, Ghala 130 |
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Country : |
Sultanate of Oman |
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Date of Incorporation : |
13th November 2006 |
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Com. Reg. No.: |
1725882 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of general foodstuff products, cleaning products, household
goods and perfumes. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL SEER TRADING AGENCIES
Country of Origin : Sultanate of Oman
Legal Form : Sole Proprietorship
Registration Date : 13th November 2006
Commercial Registration Number : 1725882
Invested Capital : RO 50,000
Total Workforce : 250
Line of Business : Wholesalers and retailers of general foodstuff products, cleaning
products, household goods and perfumes.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL SEER TRADING
AGENCIES
ADDRESS
Registered & Physical Address
Location : Al Azaiba
PO Box : 1936
Town : Ghala 130
Country : Sultanate of
Oman
Telephone : (968-24) 527407
Facsimile : (968-24)
527446
Mobile : (968-99)
371535
Email : allwyn.n@spinneys-dubai.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Ghala.
Branch Offices
Subject has branch offices
located in Muscat, Sohar, Nizwa, Seeb and Salalah.
KEY PRINCIPALS
·
Ali Al Bawardi Proprietor
& General Manager
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John Wargis Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 13th
November 2006
Legal Form :
Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 1725882
Invested Capital : RO 50,000
Mr Ali Al Bawardi
is the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of general
foodstuff products, cleaning products, household goods and perfumes.
Import Countries
: Europe and the Far East.
Subject has a
workforce of approximately 250 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Commercial Bank of Oman SAOG
Rami Plaza
PO Box : 4696
Muscat
Tel : (968-24) 793220
Fax : (968-24) 793229
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Oman did not reveal any sign of payment defaults or delays during
initial trading stages, and subject is believed to meet its payment obligations
in a timely manner, nevertheless, and in view of the company’s infancy and the
lack of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
Maximum suggested
credit figure: US$ 50,000
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%)