MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AWADI GIFTS & PERFUMES ENTERPRISES LLC |
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Registered Office : |
OC Centre, 4th
Floor, Suite 410, 25th Street, Zafar Area, Ruwi, PO Box 3595, Muscat 112 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
03.10.1990 |
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Com. Reg. No.: |
2054850 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Wholesale and Retail of Crystal
and Glassware, Tableware, Perfumes and Cosmetics, Toiletries, Gift Items and Watches |
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 : AL AWADI GIFTS & PERFUMES ENTERPRISES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 3rd October 1990
Commercial Registration Number : 2054850
Chamber Membership Number : 8117
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 20
Activities : Wholesale and retail of crystal and glassware, tableware, perfumes and
cosmetics, toiletries, gift items and watches
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL
AWADI GIFTS & PERFUMES ENTERPRISES LLC
ADDRESS
Registered & Physical Address
Building : OC Centre, 4th Floor, Suite 410
Street : 25th
Street
Area : Zafar
Area, Ruwi
PO Box : 3595
Town : Muscat 112
Country : Oman
Telephone : (968) 24702500
Facsimile : (968) 24702505
Email : awadiest@omantel.net.om
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Muscat.
Branch Office
(s)
Location Description
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Salalah Rented
showroom premises
Tel: (968) 23297930
KEY PRINCIPALS
Name Position
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Mohamed
Abdullah Faraj Al Awadi Managing
Director
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Ahmed
Mohamed Abdullah Faraj Al Awadi Director
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Mohamed
Mohamed Abdullah Faraj Al Awadi Director
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P.A.
Abraham General
Manager
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Harish
Menon Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
October 1990
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 2054850
Chamber Member No. : 8117
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder (s)
·
Mohamed
Abdullah Faraj Al Awadi
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Ahmed
Mohamed Abdullah Faraj Al Awadi
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Mohamed
Mohamed Abdullah Faraj Al Awadi
OPERATIONS
Activities: Engaged in the wholesale and retail of crystal and glassware, tableware, perfumes and cosmetics,
toiletries, gift items and
watches.
Import
Countries: India, China,
United Kingdom and France
Operating Trend: Steady
Subject has a
workforce of 20 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 2,200,000 RO 2,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Harish Menon, Commercial
Manager.
BANKERS
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Bank Muscat
SAOG
Ruwi Main Branch
PO Box: 6326
Muscat
Tel: (968) 24561399 / 24708543
Fax: (968) 24561036
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.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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%)