MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLUE TARGET TRADING |
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Registered Office : |
Al Khuwair Area, PO Box 1521, Azaiba 130 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
19.04.1993 |
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Com. Reg. No.: |
1/46175/3 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Gas
and Oilfield Spare Parts, Pipes and Valves |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BLUE TARGET TRADING
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 19th April 1993
Commercial Registration Number : 1/46175/3
Invested Capital : RO 50,000
Total Workforce : 12
Activities : Import and distribution of gas and oilfield spare parts, pipes and valves.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
BLUE TARGET TRADING
ADDRESS
Registered & Physical Address
Location : Al Khuwair Area
PO Box : 1521
Town : Azaiba 130
Country : Oman
Telephone : (968) 24484237
Facsimile : (968) 24481865
Email : bluetrg@omantel.net.om
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Suburban Business Area of Azaiba.
KEY PRINCIPALS
Name Position
· Qassim
Masood Proprietor
& General Manager
· Colt
Frank Assistant
General Manager
· C.V.
Shan Sales Manager
LEGAL FORM & OWNERS
Date of
Establishment : 19th
April 1993
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1/46175/3
Invested Capital : RO 50,000
Mr Qassim Masood is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the import and distribution of gas
and oilfield spare parts, pipes and valves.
Import Countries: China, United States of America, Germany and
Japan.
Operating Trend: Steady
Subject has a workforce of 12 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales RO
2,200,000 RO
2,750,000
Local sources consider subject’s financial condition to be Fair.
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
The financial data contained within this report has been confirmed with
Mr C.V. Shan – Sales Manager.
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%)