MIRA
INFORM REPORT
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Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAIT AL ZAKIN TRADING CO |
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Registered Office : |
Main
Street, Manah Area, PO Box 224, Manah
619 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
07.10.1996 |
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Com. Reg. No.: |
5/09119/5 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and Distribution of Marble, Granite and Stone. Contractors Specialising in the Provision of Oil Field and Gas Services. |
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 : BAIT AL ZAKIN TRADING CO
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 7th October 1996
Commercial Registration Number : 5/09119/5
Chamber Membership Number : 486
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 45
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
BAIT AL ZAKIN
TRADING CO
ADDRESS
Registered & Physical Address
Street : Main
Street
Area : Manah
Area
PO Box : 224
Town : Manah
619
Country : Oman
Telephone : (968) 99004516
/ 95156705
Facsimile : (968) 25376056
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Manah.
KEY PRINCIPALS
Name Nationality Position
·
Rabee
Talib Hamad Omani Managing
Director
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Fadel
Talib Hamad Omani Director
LEGAL FORM & OWNERS
Date of Establishment : 7th
October 1996
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 5/09119/5
Chamber Member No. : 486
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder (s)
·
Rabee
Talib Hamad
·
Fadel
Talib Hamad
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· General Trading Division
This division specialises in
the import and distribution of marble, granite and
stone.
·
Gas & Oilfield Division
Contractors specialising in
the provision of oil field and gas services.
Import
Countries: India
International
Suppliers:
·
Gabeel
Granite India
Operating Trend: Steady
Subject has a
workforce of 45 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 1,890,000 RO 2,075,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Rabee Talib Hamad –
Managing Director.
BANKERS
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Oman
International Bank
Firq Branch
Acc No. 34/089730/01
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.
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%)