MIRA
INFORM REPORT
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Report Date : |
09.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AL MAHDATH
TRADING AND CONTRACTING EST |
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Registered Office : |
Building No. 911, Complex 130, Way No.
3013, |
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Country : |
Sultanate of |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
27th September 1983 |
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Com. Reg. No.: |
1169572 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuff 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 : AL MAHDATH TRADING AND CONTRACTING EST
Country of Origin :
Sultanate of
Legal Form : Sole Proprietorship
Registration Date : 27th September 1983
Commercial Registration Number : 1169572
Membership Number : 49711
Invested Capital : RO 35,000
Total Workforce : 8
Line of Business : Wholesalers and retailers of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL MAHDATH TRADING
AND CONTRACTING EST
ADDRESS
Registered & Physical Address
Building :
Building No. 911, Complex 130
Street :
Way No. 3013
PO Box :
1802 & 2507
Town :
Country :
Sultanate of
Telephone :
(968-99) 388729 / 385693
Facsimile :
(968-24) 836383
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Muscat.
KEY PRINCIPALS
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· Nawab Noureddine Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 27th September 1983
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 1169572
Membership No. : 49711
Invested Capital : RO 35,000
Mr Salem Rashid Salem Al
Rayami is the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of general
foodstuff products.
Import Countries : Europe and the
Operating Trend : Steady
Subject has a workforce of 8 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 650,000 RO
700,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Bank of
Muttrah Corniche
Branch
PO Box : 7231
Tel : (968-24)
714549 / 712367 / 734549 / 744559
Fax : (968-24)
714560
Acc No.
21993
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1983, subject is owned and managed by Mr Salem Rashid Salem Al Rayami who is well
respected in the local business community.
Local sources report that payment obligations are met in a generally timely
manner and the operating history is clear. As such the business is deemed a
fair trade risk and the above credit figure is considered to be 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%)