MIRA
INFORM REPORT
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Report Date : |
6th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL INTERNATIONAL TRADING HOUSE LLC |
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Registered Office : |
Al Khuwair, 1668 Ruwi 112, Sultanate of Oman |
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Country : |
Sultanate of Oman |
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Date of Incorporation : |
24.08.2005 |
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Com. Reg. No.: |
1800710 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the import and distribution of
general merchandise, including ready made garments, foodstuffs, electrical
appliances and building materials |
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/normal. |
Small |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New
Concern |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
ROYAL INTERNATIONAL TRADING HOUSE LLC |
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Country of Origin |
Sultanate of Oman |
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Legal Form |
Limited Liability Company - LLC |
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Registration Date |
24th August 2005 |
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Commercial Registration Number |
1800710 |
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Issued Capital |
RO 150,000 |
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Paid up Capital |
RO 150,000 |
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Total Workforce |
10 |
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Line of Business |
Distributors of general merchandise. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
ROYAL INTERNATIONAL TRADING HOUSE LLC
ADDRESS
Registered & Physical Address
Location : Al Khuwair
PO Box : 1668
Town : Ruwi 112
Country : Sultanate of Oman
Telephone : (968-24) 481880
Facsimile : (968-24) 481880
Mobile : (968-92) 500811
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Ruwi.
KEY PRINCIPALS
Mohamed Abdullah Mohamed Al Busaidi Managing Director
Ashraf Ahmed Mohamed Director
Asia Amer Kayoumi General Manager
Mohamed Hanif Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th August 2005
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 1800710
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
Mohamed Abdullah Mohamed Al Busaidi
Ashraf Ahmed Mohamed
Non Omani Participation
The participation of non-Omani nationals in a trade or business in Oman is governed by the Foreign Business Investment Law, which sets capital requirements and requires 35 % Omani participation in capital and profits.
Note to the Legal Form
The Limited Liability Company (LLC), or private company, is the form of business entity usually chosen by foreign investors. It may be formed by a minimum of 2 and a maximum of 30 natural or legal persons, whose liability is limited to their shares in the company’s capital. The minimum capital of a Limited Liability Company with foreign ownership should be RO 150,000, although this may be reduced to a minimum of RO 30,000 with the approval of the Minister of Commerce and Industry. For a company wholly owned by Omani nationals, the minimum capital is RO 10,000.
Contributions to capital may be made in cash of kind. Capital may not be increased by public subscription. The full amount of the share value must be paid in on subscription. Shares may not be assigned to a non-member, unless the other existing members are granted a pre-emptive right to purchase the shares.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of general merchandise, including ready made
garments, foodstuffs, electrical appliances and building materials.
Import Countries : Europe and the Far East.
Subject has a workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information is not currently available.
BANKERS
Standard Chartered Bank
Next Sheraton Hotel
PO Box : 2353
Ruwi 112
Tel : (968-24) 703999 / 703796 / 703574
Fax : (968-24) 796864
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Investigations undertaken in Ruwi 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/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 |
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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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