MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUMMER STAR TRADING LLC |
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Registered Office : |
Gala
Street, PO Box 1079, Al
Hamriya 131 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
10.08.2002 |
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Com. Reg. No.: |
1703242 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
General Traders Specialising in Scrap, Metal and Plastics |
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 : SUMMER STAR TRADING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 10th August 2002
Commercial Registration Number : 1703242
Chamber Membership Number : 47144
Issued Capital : RO 20,000
Paid up Capital : RO 20,000
Total Workforce : 10
Activities : General traders specialising in scrap, metal and plastics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SUMMER STAR TRADING
LLC
ADDRESS
Registered & Physical Address
Location : Gala
Street
PO Box : 1079
Town : Al Hamriya 131
Country : Oman
Telephone : (968) 24709048
Facsimile : (968) 24797415
Mobile : (968) 99339505
Email : mohd.bulushi@oab.co.om
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Al Hamriya.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Shareef Bakhash Al Bulushi Omani Managing
Director
·
Salwa
Gholum Jawad - Director
·
Julan
Kanti - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 10th
August 2002
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1703242
Chamber Member No. : 47144
Issued Capital : RO 20,000
Paid up Capital : RO 20,000
Name of Shareholder (s)
·
Mohamed
Shareef Bakhash Al Bulushi
·
Salwa
Gholum Jawad
OPERATIONS
Activities: Engaged as general traders specialising in scrap, metal and plastics.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of 10 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 1,800,000 RO 2,320,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Oman Arab Bank
Head Office
Muttrah Business District
PO Box : 2010, Ruwi 112
Muscat
Tel: (968) 24700161 / 24706265
/ 24706267
Fax: (968) 24797736
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.43.13 |
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UK Pound |
1 |
Rs.85.02 |
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Euro |
1 |
Rs.67.77 |
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%)