MIRA
INFORM REPORT
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Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ORIENTAL FOODS, INC. |
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Registered Office : |
767 N Hill St Suite 102 Los Angeles, CA 90012 |
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Country : |
United States |
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Date of Incorporation : |
17.12. 1980 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesaler of Seafood. |
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 : |
USD 40,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
40,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
ORIENTAL FOODS, INC. |
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Address: |
767 N Hill St Suite 102 Los Angeles, CA 90012 USA |
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Phone: Facsimile: ID: State: Managers: |
+1 (213) 613-1655 + 1 (213) 613- 1883 C1032413 California Venku G Reddy, President |
Date founded: |
Dec 17, 1980
N.A. 5 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesaler of seafood. |
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BANKS
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STATE BANK OF INDIA
BUSINESS
Business, Operations & History:
OFI International Inc also
does business as Oriental Foods.
Oriental Foods, Inc is a
private company located in Los Angeles, California. Oriental Foods, Inc's line
of business is wholesaler of fish and seafood.
Business overview:
Demand is driven primarily by domestic trends in fish consumption and
competition from imports. The profitability of individual companies depends on
efficient operations and protecting fish stock from death and disease. Large
companies have advantages in vertically integrating operations from breeding to
processing and packaging. Small farms, typically those that are family-owned,
can compete effectively by specializing in unusual and high-end products or
offering onsite fee-fishing. The industry is labor-intensive: average annual
revenue per worker is around $70,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
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Venku G Reddy, President.
He is also the main
shareholder.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Oriental Foods, Inc. does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
1,300,000 |
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Operating Profit |
95,000 |
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Net Income |
78,000 |
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Net Worth |
120,000 |
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Liabilities |
35,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Security Filing in
2007 & 2006 by State Bank of India. Security & Amount:NA
All Prior UCC Security
Filings have been cleared
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
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The cash flow is correct.
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Payments are made on a 40 days basis.
Our final opinion:
This is a small company working in the US market.
A credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Sufficient Controlled Correct |
PUBLIC PAYMENTS |
See Above Regular |
ADVISED
CREDIT
40,000 USD
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%)