MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
TRADE LINKS &
SERVICES COMPANY LLC |
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Registered Office : |
Al |
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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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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in the distribution
and retail of electrical materials and equipment, such as transformers,
cables, electrical accessories and electronic measuring equipment. |
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 : TRADE LINKS & SERVICES COMPANY LLC
Country of Origin :
Sultanate of
Legal Form : Limited Liability Company - LLC
Registration Date : 1979
Total Workforce : 21
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
Line of Business : Distribution and retail of electrical materials and equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TRADE LINKS & SERVICES
COMPANY LLC
ADDRESS
Registered & Physical Address
Building : Al
Street :
Area : Ghala
P.O.Box : 2901, Ruwi 112
Town :
Country : Sultanate of
Telephone : (968) 24590762 / 24590581 / 24590598
Facsimile : (968) 24590541 / 24590580
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Muscat.
Branch Office (s)
Location Description
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Ruwi Showroom
premises
Tel: (968) 707715
Fax:
(968) 705538
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PO Box:
2971 Showroom
premises
Salalah 211
Tel:
(968) 297018
Fax:
(968) 297018
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PO Box:
997 Showroom
premises
Nizwa 611
Tel: (968) 410352
Fax: (968) 410352
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PO Box:
319 Showroom
premises
Al Buraimi 512
Tel: (968) 653782
Fax: (968) 653783
KEY PRINCIPALS
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Ali
Mohamed Mirza Managing
Director
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Mohamed
Ali Mohamed Mirza Director
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M.M.
Jalisatgi General
Manager
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M.M.
Prabhu Assistant
General Manager
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P.Y.
Kotian Sales
Manager
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P.K.
Chakraborty Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1979
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited Liability Company - LLC)
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
Name of Shareholder
(s) Share Value Percentage
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Ali
Mohamed Mirza RO
294,000 98
%
·
Mohamed
Ali Mohamed Mirza RO 6,000 2
%
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
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Oman
Plastic Bags Company Ltd
PO Box: 5993
Tel: (968) 591765
Fax: (968) 601895
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Chainlink
Fencing Co LLC
PO Box: 42007
Tel: (968) 626024
Fax: (968) 626037
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Civil
Contracting Co LLC
Ghala
PO Box: 4321
Tel:
(968) 590762
Fax: (968) 590541
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National
Electrical Industries Co LLC
Maabela Industrial Area
PO Box: 1102
Seeb 111
Tel: (968) 590762
Fax: (968) 590541
LINE OF BUSINESS
Operations : Engaged in the distribution and retail of
electrical materials and equipment, such as transformers, cables, electrical
accessories and electronic measuring equipment.
Import Countries
: The
Operating Trend
: Steady
Subject has a
workforce of approximately 21 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 1,300,000 RO
1,420,000
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
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Bank of
Main Branch
PO Box : 4708
Tel: (968) 701528
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HSBC
Main Branch
PO Box: 701528
Tel: (968) 799920
Fax: (968) 704241
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
company 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. |
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%)