MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIZWA FOOD INDUSTRIES LLC |
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Registered Office : |
Industrial
Estate, PO Box 1113, Nizwa 611 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
24.09.1997 |
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Com. Reg. No.: |
5097690 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Production of Foodstuff |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NIZWA FOOD INDUSTRIES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 24th September 1997
Commercial Registration Number : 5097690
Chamber Membership Number : 146
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Total Workforce : 50
Activities : Production of foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
NIZWA FOOD
INDUSTRIES LLC
ADDRESS
Registered & Physical Address
Location : Industrial Estate
PO Box : 1113
Town : Nizwa 611
Country : Oman
Telephone : (968) 25449477
Facsimile : (968) 25449476
Email : nfillc@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 Nizwa.
KEY PRINCIPALS
Name Position
·
Salim
Mohamed Al Hoqani Managing
Director
·
Walid
Aref Attallah Director
·
Somiya
Darwish Gaheer Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
September 1997
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 5097690
Chamber Member No. : 146
Issued Capital : RO 200,000
Paid up Capital : RO
200,000
Name of Shareholder (s)
·
Salim
Mohamed Al Hoqani
·
Walid
Aref Attallah
·
Somiya
Darwish Gaheer
OPERATIONS
Activities: Engaged in the production of foodstuff, including jam, jelly, and cream caramel.
Import
Countries: India and the
United Kingdom
Brand Names: AL BARAKAT, AL DIWAN, FRESCO, INTER HALCO
& MELINO
Operating Trend: Steady
Subject has a
workforce of 50 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 4,200,000 RO 4,700,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Salim Mohamed Al Hoqani,
Managing Director.
BANKERS
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Bank Muscat
SAOG
PO Box : 6326
Muscat
Tel: (968) 24701769
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.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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%)