MIRA
INFORM REPORT
|
Report Date : |
04.09.2007 |
IDENTIFICATION
DETAILS
|
Name : |
AL NABTAH TRADING
& CONTRACTING CO LLC |
|
|
|
|
Registered Office : |
New
Salalah Area, |
|
|
|
|
Country : |
Sultanate of |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Com. Reg. No.: |
2/14113/2 |
|
|
|
|
Legal Form : |
Limited Liability Company – LLC |
|
|
|
|
Line of Business : |
Engaged in the import
and distribution of marble, granite and painting materials. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 70,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL NABTAH TRADING & CONTRACTING CO LLC
Country of Origin :
Sultanate of
Legal Form : Limited Liability Company - LLC
Registration Date : 2005
Commercial Registration Number : 2/14113/2
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 6
Line of Business : Distributors of marble, granite and painting materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
AL NABTAH TRADING
& CONTRACTING CO LLC
ADDRESS
Registered & Physical Address
Location : New Salalah Area
PO Box : 2062
Town : Salalah 211
Country : Sultanate of
Telephone : (968-23) 202048
Facsimile : (968-23) 298516
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Salalah.
KEY PRINCIPALS
·
Stephan
Galasani General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2005
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 2/14113/2
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s)
·
Unnamed foreign
shareholder
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 in the import and distribution of
marble, granite and painting materials.
Import Countries :
Subject has a
workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Riyal
Omani (RO)
Year
Ending 31/12/06 :
Total Revenue RO
450,000
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
·
National Bank
of Oman Limited (SAOG)
Hafa Branch
PO Box : 824
Salalah 211
Tel : (968-23) 291952
Fax : (968-23) 290066
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2005, subject is involved in the import and distribution of marble, granite and
painting materials.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 70,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)