MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALI SHAIHANI FOOD INDUSTRIES LLC |
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Registered Office : |
Wadi
Kabir Area, PO Box 1842, Ruwi
112, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1981 |
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Com. Reg. No.: |
3102564 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacture of Foodstuffs, Specialising in Corn Snacks |
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 : ALI SHAIHANI FOOD INDUSTRIES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Start Date : 1981
Registration Date : 13th August 2001
Commercial Registration Number : 3102564
Chamber Membership Number : 60
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 180
Activities : Manufacture of foodstuffs, specialising in corn snacks
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ALI SHAIHANI FOOD
INDUSTRIES LLC
ADDRESS
Registered & Physical Address
Location : Wadi
Kabir Area
PO Box : 1842, Ruwi 112
Town : Muscat
Country : Oman
Telephone : (968) 24813617 / 24817354 / 24815355
/ 24817634 / 24815416
Facsimile : (968) 24815355 / 24813771
Email : info@alishaihani.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Muscat.
KEY PRINCIPALS
Name Position
·
Ali
Kadawat Ahmed Al Shaihani Managing
Director
·
Tariq
Ali Kadawat Ahmed Al Shaihani Director
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P.
Maya Lagan General
Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1981, however it was registered on 13th
August 2001
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 3102564
Chamber Member No. : 60
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
·
Ali
Kadawat Ahmed Al Shaihani
·
Tariq
Ali Kadawat Ahmed Al Shaihani
AFFILIATED COMPANIES
·
Al Jufair Food
Industry LLC
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Al Shaihani
Paper Industries
OPERATIONS
Activities: Engaged in the manufacture of foodstuffs,
specialising in corn snacks.
Import
Countries: India
Operating Trend: Steady
Subject has a workforce
of approximately 180 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 4,380,000 RO 4,750,000
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 Limited
Ruwi Branch
PO Box : 3752
Muscat
Tel : (968) 24708898
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 company
is considered to be 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.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.23 |
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%)