MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAHI FOODS AND SPICES LLC |
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Registered Office : |
Al
Suwaiq Street, PO Box 366, Al Suwaiq 315 |
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Country : |
Oman |
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Financials (as on) : |
3112.2007 |
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Date of Incorporation : |
1985 |
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Com. Reg. No.: |
1/5163 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Wholesale and Retail of Spices
and 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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHAHI FOODS AND SPICES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1985
Commercial Registration Number : 1/5163
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 20
Activities : Wholesale and retail of spices and foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
SHAHI FOODS AND
SPICES LLC
ADDRESS
Registered & Physical Address
Location : Al
Suwaiq Street
PO Box : 366
Town : Al Suwaiq 315
Country : Oman
Telephone : (968) 26860402 / 26860963
Facsimile : (968) 26860681
Email : shahimct@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 Al Suwaiq.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Al Ashraf Indian Managing
Director
·
Ibrahim
Al Rawahi Omani Director
·
Baderuddine
Munir
- Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1985
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/5163
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of
Shareholder (s)
·
Mohamed
Al Ashraf
·
Ibrahim
Al Rawahi
OPERATIONS
Activities: Engaged in the wholesale and retail of spices and foodstuff.
Import
Countries: India, Thailand
and China
Operating Trend: Steady
Subject has a
workforce of 20 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 1,950,000 RO 2,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank Muscat
SAOG
Ruwi Main Branch
PO Box: 6326
Muscat
Tel: (968) 561399 / 708543
Fax: (968) 561036
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.
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%)