MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MODERN DAIRY FACTORY LLC |
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Registered Office : |
Al Wadi Al Kabir
Industrial Area, PO Box 7123, 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 : |
24.04. 1991 |
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Com. Reg. No.: |
1319485 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Production of Dairy 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$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MODERN DAIRY FACTORY LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 24th April 1991
Commercial Registration Number : 1319485
Chamber Membership Number : 1903
Issued Capital : RO 238,000
Paid up Capital : RO 238,000
Total Workforce : 80
Activities : Production of dairy products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 600,000
COMPANY NAME
MODERN DAIRY
FACTORY LLC
ADDRESS
Registered & Physical Address
Location : Al Wadi Al Kabir Industrial Area
PO Box : 7123
Town : Jibroo 114
Country : Oman
Telephone : (968) 24815247 / 24797347 / 247715247
Facsimile : (968) 24817347 / 24797347
Email : dairymod@omantel.net.om
Premises
Subject operates from
a medium sized suite of offices and a factory that are owned and located in the
Industrial Area of Jibroo.
KEY PRINCIPALS
Name Position
·
Karim
Hamdan Suwaid Al Khazmi Managing
Director
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Khalid
Abdullah Mohamed Al Hassani Director
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Mohamed
Abdullah Mohamed Al Hassani Director
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Ahmed
Abdullah Mohamed Al Hassani Director
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Amjad
Abdullah Mohamed Al Hassani Director
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Omar
Abdullah Mohamed Al Hassani Director
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Amal
Abdullah Mohamed Al Hassani Director
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Aiman
Abdullah Mohamed Al Hassani Director
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Omima
Abdullah Mohamed Al Hassani Director
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Fabric
De Souza Commercial
Manager
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Vargas
Koshi Finance
Manager
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Fouad
Yonas Production
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
April 1991
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1319485
Chamber Member No. : 1903
Issued Capital : RO 238,000
Paid up Capital : RO 238,000
Name of Shareholder (s)
·
Karim
Hamdan Suwaid Al Khazmi
·
Khalid
Abdullah Mohamed Al Hassani
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Mohamed
Abdullah Mohamed Al Hassani
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Ahmed
Abdullah Mohamed Al Hassani
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Amjad
Abdullah Mohamed Al Hassani
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Omar
Abdullah Mohamed Al Hassani
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Amal
Abdullah Mohamed Al Hassani
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Aiman
Abdullah Mohamed Al Hassani
·
Omima
Abdullah Mohamed Al Hassani
OPERATIONS
Activities: Engaged in the production of dairy
products.
Import
Countries: Australia and
the United States of America
Brand Names: ALKAMAYEL
Operating Trend: Steady
Subject has a
workforce of 80 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 5,200,000 RO 5,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Bank Muscat
SAOG
Ruwi Main Branch
PO Box: 6326
Muscat
Tel: (968) 24561399 / 24708543
Fax: (968) 24561036
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National Bank
of Oman Limited (SAOG)
Mutrah Business District
PO Box : 751, Ruwi 112
Muscat
Tel: (968) 24708894 / 24708630 / 24708684
Fax: (968) 24707781 / 24703972
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is 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.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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%)