MIRA
INFORM REPORT
|
Report Date : |
02.01.2008 |
IDENTIFICATION
DETAILS
|
Correct Name : |
HASSAN BIN BAKER
TRADING ESTABLISHMENT |
|
|
|
|
Registered Office : |
Honda Road,
Walja, P. O. Box 2879, Ruwi 112, Muscat |
|
|
|
|
Country : |
Sultanate of Oman |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
23rd February 1985 |
|
|
|
|
Com. Reg. No.: |
1221256 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale and retail
of sanitary ware equipment, ceramics and tiles. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 125,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : HASSAN BIN BAKER TRADING ESTABLISHMENT
Country of Origin : Sultanate of Oman
Legal Form : Sole Proprietorship
Registration Date : 23rd February 1985
Commercial Registration Number : 1221256
Membership Number : 1960
Invested Capital : RO 100,000
Total Workforce : 9
Line of Business : Wholesalers and retailers of sanitary ware equipment, ceramics and
tiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
HASSAN BIN BAKER
TRADING ESTABLISHMENT
ADDRESS
Registered & Physical Address
Street : Honda Road
Area : Walja
P.O.Box : 2879, Ruwi 112
Town : Muscat
Country : Sultanate of Oman
Telephone : (968-24) 837410 / 837417 / 835739
Facsimile : (968-24) 830562
Email : ahssanit@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.
KEY PRINCIPALS
·
Hassan Bin
Baker Mohamed Proprietor
& General Manager
·
M A Kuti Assistant
General Manager
·
Hassan Kalfe Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
February 1985
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 1221256
Membership
No. : 1960
Invested Capital : RO 100,000
Mr Hassan Bin Baker
Mohamed is the sole proprietor of the business.
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of
sanitary ware equipment, ceramics and tiles.
Import Countries
: The United States of America
and the United Kingdom.
Operating Trend
: Steady
Subject has a
workforce of 9 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Riyal
Omani (RO)
Year
Ending 31/12/05 : Year Ending
31/12/06 :
Total Sales RO 956,000 RO 1,120,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
National Bank
of Oman Ltd (SAOG)
Ruwi Branch
PO Box : 752
Muscat
Tel : (968-24) 708894 / 708519 / 708562
Fax : (968-24) 797278
·
Bank of Muscat
PO Box : 134
Ruwi 112
Tel : (968-24) 564861
Fax : (968-24) 564860
Acc No. 065400130081012
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1985, subject is owned and managed by Mr Hassan Bin Baker Mohamed who is well
respected in the local business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 125,000
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)