MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AL FURATT ARABIAN
ENTERPRISES |
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Registered Office : |
Al Khoud, |
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Country : |
Sultanate of |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
7th
August 2004 |
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Com. Reg. No.: |
1763164 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution
of sea food, eggs, vegetables and fruits. |
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 : AL FURATT ARABIAN ENTERPRISES
Country of Origin : Sultanate
of
Legal Form :
Sole Proprietorship
Registration Date : 7th
August 2004
Commercial
Registration Number : 1763164
Trade Licence
Number : 50438
Invested Capital : RO 20,000
Total Workforce : 10
Line of Business : Import and distribution of foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL FURATT ARABIAN
ENTERPRISES
ADDRESS
Registered & Physical Address
Location : Al Khoud
PO Box : 972
Town :
Country : Sultanate of
Telephone : (968) 24541446
Facsimile : (968) 24541446
Email : alfuratt@gmail.com
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
·
Hamd Salem
Al Mabrouki Proprietor
& General Manager
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Abdul Ganas
Mohamed Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 7th
August 2004
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 1763164
Membership No. : 50438
Invested Capital : RO 20,000
Mr Hamd Salem Al Mabrouki is the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged
in the import and distribution of sea food, eggs, vegetables and fruits.
Subject also exports fishmeal to
Import Countries
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Operating Trend
: Steady
Subject has a
workforce of 10 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 495,000 RO 635,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Oman
Arab Bank
Head Office
Muttrah Business District
PO Box : 2010, Ruwi 112
Tel: (968) 24700161 / 24706265
/ 24706267
Fax: (968) 24797736
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
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
business is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
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%)