MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
OILFIELDS SUPPLY
CENTRE |
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Registered Office : |
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Country : |
Sultanate of |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1979 |
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Com. Reg. No.: |
1/090101/8 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of oilfield equipment and supplies. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : OILFIELDS SUPPLY CENTRE
Country of Origin : Sultanate of
Legal Form : Sole Proprietorship
Registration Date : 1979
Commercial Registration Number : 1/090101/8
Invested Capital : RO 150,000
Total Workforce : 50
Line of Business : Distributors of oilfield equipment and supplies.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
OILFIELDS SUPPLY
CENTRE
ADDRESS
Registered & Physical Address
Street : Al Mina
Street
Area : Darsait
PO Box : 2855, Ruwi 112
Town :
Country : Sultanate of
Oman
Telephone : (968-24) 705077 / 790762 / 815086 / 700761
Facsimile : (968-24) 708169 / 790762
Email : ofscmct@omante.net.om
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are owned and located in
the Central Business Area of Muscat.
KEY PRINCIPALS
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A B Bhatia Proprietor
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C
K Gandhi General
Manager
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R
Viswanath Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1979
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 1/090101/8
Invested Capital : RO 150,000
Mr A B Bhatia is
the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
oilfield equipment and supplies, including valves, instruments, pipes and pipe fittings, tools and
safety products.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Riyal
Omani (RO)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue RO
1,275,000 RO
1,450,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of
Muttrah Business District
PO Box : 1696, Ruwi 112
Muscat
Tel : (968-24) 793225 / 793226 / 793228
Fax : (968-24) 793229
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1979, subject is involved in the import and distribution of oilfield equipment
and supplies, including valves,
instruments, pipes and pipe fittings, tools and safety 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
company is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 150,000
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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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%)