MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HUDA AL ZADJALI TRADING |
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Registered Office : |
Old Muttrah
Market, Shop No. 84, PO Box 42,
Muscat 113 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of
Textiles, Scarves, Shawls and Readymade Garments |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : HUDA AL ZADJALI TRADING
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 2001
Invested Capital : RO 50,000
Total Workforce : 4
Activities : Wholesale and retail of textiles, scarves, shawls and readymade garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
HUDA AL ZADJALI
TRADING
ADDRESS
Registered & Physical Address
Location : Old Muttrah Market, Shop No. 84
PO Box : 42
Town : Muscat 113
Country : Oman
Telephone : (968) 24713236
Facsimile : (968) 24713236
Mobile : (968) 99650939
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
Name Nationality Position
·
Sanaji
Qazi Indian Proprietor & General
Manager
·
Sartaj
Ahmed - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2001
Legal Form :
Sole Proprietorship
Invested Capital
: RO 50,000
Mr Sanaji Qazi is the sole proprietor of the business.
Mr Sanaji Qazi is an Indian national who operates in
Oman under the local sponsorship of Mrs Huda Ali Saleh Al Zadjali.
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles, scarves, shawls and readymade garments.
Import
Countries: India and China
Operating Trend: Steady
Subject has a workforce
of 4 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 1,100,000 RO 1,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Sartaj Ahmed, Sales
Manager.
BANKERS
·
Bank Muscat
SAOG
Muttrah Commercial District
PO Box 3134, Ruwi
Muscat 112
Tel: (968) 24703044 / 24703137
/ 24707015
Fax: (968) 24793536
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
business 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.42.17 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)