MIRA
INFORM REPORT
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Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ONAS TRADING LLC |
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Registered Office : |
OUA Complex, Al
Iskan Street, Greater Muttrah, PO Box
1266, Jibroo 114 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.11.1982 |
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Com. Reg. No.: |
1146777 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of alcoholic beverages, frozen meat, poultry
and dry foodstuffs as well as general contracting and mining services. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ONAS TRADING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 16th November 1982
Commercial Registration Number : 1146777
Chamber Membership Number : 683
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Total Workforce : 35
Activities : Distributors of alcoholic beverages, frozen meat, poultry and dry foodstuffs as well as general contracting and mining services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ONAS TRADING LLC
ADDRESS
Registered & Physical Address
Building : OUA Complex
Street : Al Iskan Street
Area : Greater Muttrah
PO Box : 1266
Town : Jibroo 114
Country : Oman
Telephone : (968-24) 798235 / 560148
Facsimile : (968-24) 798239 / 707708
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Jibroo.
KEY PRINCIPALS
·
Khalifa
Obaid Mousa Al Salami Managing
Director
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Shaker
Khalifa Obaid Mousa Al Salami Director
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Naif
Khalifa Obaid Mousa Al Salami Director
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Haytham
Bin Tariq Bin Taymoor Director
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Adham
Bin Tariq Al Saeed Director
LEGAL FORM & OWNERS
Date of Establishment : 16th
November 1982
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1146777
Chamber Member No. : 683
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Name of Shareholder (s)
·
Khalifa
Obaid Mousa Al Salami
·
Shaker
Khalifa Obaid Mousa Al Salami
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Naif
Khalifa Obaid Mousa Al Salami
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Haytham
Bin Tariq Bin Taymoor
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Adham
Bin Tariq Al Saeed
OPERATIONS
Activities: Engaged in the import and distribution of
alcoholic beverages, frozen meat, poultry and dry foodstuffs as well as general
contracting and mining services.
Import
Countries: Germany, France,
Australia and New Zealand.
Operating Trend: Steady
Subject has a
workforce of 35 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:
Total sales RO 4,650,000 RO 5,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National Bank
of Oman SAOG
PO Box : 916
Muscat 113
Tel : (968-24) 737837 / 740595
Fax : (968-24) 737836
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1982, subject is involved in the import and distribution of alcoholic
beverages, frozen meat, poultry and dry foodstuffs as well as general
contracting and mining services.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
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%)