MIRA
INFORM REPORT
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Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AL ANSARI
ENGINEERING SERVICES LLC |
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Registered Office : |
Building No. 27, Complex 260, Industrial Area, |
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Country : |
Sultanate of |
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Date of Incorporation : |
1975 |
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Com. Reg. No.: |
1/61169/0 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged as general fabrication contractors. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL ANSARI ENGINEERING SERVICES LLC
Country of Origin :
Sultanate of
Legal Form : Limited Liability Company – LLC
Start Date : 1975
Commercial Registration Number : 1/61169/0
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 300
Line of Business : General fabrication contractors.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL ANSARI
ENGINEERING SERVICES LLC
ADDRESS
Registered & Physical Address
Location : Building No.
27, Complex 260, Industrial Area
PO Box : 1832
Town : Ruwi 112
Country : Sultanate of
Telephone : (968-24) 593290
Facsimile : (968-24)
593222
Email : ansed@omantel.net.om
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Ruwi.
KEY PRINCIPALS
·
Mohamed
Ali Juma Omani Managing Director
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Kiran
Ashar
Indian Director
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Pram
Kanad
- General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1975 as a sole
proprietorship however subject re-registered as a limited liability
company in 2000.
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 1/61169/0
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Name of Shareholder
(s)
·
Mohamed
Ali Juma
·
Kiran
Ashar
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.
LINE OF BUSINESS
Operations : Engaged as
general fabrication contractors.
Subject has a
workforce of approximately 300 employees.
FINANCIAL
HIGHLIGHTS
Companies
registered in
BANKERS
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Bank of
Greater Muttrah
PO Box : 6326, Ruwi
Tel : (968-24) 701769
Fax : (968-24) 796488
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in 1975,
subject is owned and managed by Mr Mohamed Ali Juma and Mr Kiran Ashar who are
both 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 company 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$ 250,000
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%)