MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MANAZEL CONSTRUCTION CO LLC |
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Registered Office : |
Al Ghoubra Roundabout, P O Box – 1598, Jibroo 114 |
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Country : |
Sultanate of |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
09.03.1985 |
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Com. Reg. No.: |
1195409 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the wholesale and retail of marble, tiles, granite and
stoneware 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MANAZEL
CONSTRUCTION CO LLC
Country of Origin :
Sultanate of
Legal Form :
Limited Liability Company - LLC
Registration Date :
9th March 1985
Commercial Registration No. :
1195409
Membership Number :
1979
Issued Capital :
RO 510,000
Paid up Capital :
RO 510,000
Total Workforce :
20
Line of Business :
Wholesalers and retailers of marble, tiles, granite and stoneware products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MANAZEL CONSTRUCTION CO LLC
ADDRESS
Registered & Physical Address
Location : Al Ghoubra
Roundabout
PO Box : 1598
Town : Jibroo 114
Country : Sultanate of
Telephone : (968) 24590483
/ 24593157 / 24593665
Facsimile : (968) 24590486
Email : manazel@omantel.net.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Central Business Area of Jibroo.
KEY PRINCIPALS
Mrs Miriam Bint Abdul Moniem Al Zawawi Managing
Director
Mrs Mona Nour Biryan Richi Director
Pawan Singh General
Manager
D. N. Tricathi Commercial
Manager
A. F. Nooham Sales
Manager
K. Prajosh Financial
Controller
LEGAL FORM &
OWNERS
Date of Establishment : 9th
March 1985
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 1195409
Membership No. : 1979
Issued Capital : RO 510,000
Paid up Capital : RO 510,000
Name of Shareholder
(s) Share Value Percentage
Mrs Miriam Bint Abdul Moniem Al Zawawi RO
255,000 50 %
Mrs Mona Nour Biryan Richi RO
255,000 50 %
Non Omani Participation The participation of non-Omani nationals in a
trade or business in
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.
AFFILIATED COMPANIES
Mona Nour Group of Companies
PO Box : 1598
Jibroo 114
Tel : (968) 590483
Fax : (968) 590486
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of marble,
tiles, granite and stoneware products.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 20 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
1,650,000 RO
1,810,000
Local sources consider subject’s financial condition to be Fair.
Legal Reserve Requirement A Limited Liability Company (LLC) is
required each year to set aside 10% of its net profits as a legal reserve until
the reserve reaches one-third of the company’s capital. This legal reserve is
not available for distribution.
BANKERS
Bank of
PO Box : 231
Jibroo 114
Tel : (968) 714549
Fax : (968) 714560
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1985, subject is owned and managed by Mrs Miriam Bint
Abdul Moniem Al Zawawi and Mrs Mona Nour Biryan Richi.
As far as payment obligations are concerned, nothing detrimental has
been heard regarding the manner in which they are conducted and 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%)