MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
DESERT COLD STORE LLC |
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Registered Office : |
Exhibition Road,
PO Box 57, Azaiba 130 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
11.07. 2004 |
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Com. Reg. No.: |
1761617 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Rental of Cold Storage
Facilities for Parties, Complexes and Businesses |
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 : DESERT COLD STORE LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 11th July 2004
Commercial Registration Number : 1761617
Chamber Membership Number : 4925
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 8
Activities : Rental of cold storage facilities for parties, complexes and businesses.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
DESERT COLD STORE
LLC
ADDRESS
Registered & Physical Address
Location : Exhibition Road
PO Box : 57
Town : Azaiba 130
Country : Oman
Telephone : (968) 24503388
Facsimile : (968) 24503232
Mobile : (968) 99229263
Email : dstcld05@omantel.net.om
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Azaiba.
KEY PRINCIPALS
Name Nationality Position
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Dr
Munawar Hussain Pardhan Tanzanian Managing Director
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Asim Munawar
Hussain Pardhan Tanzanian Director
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Abdullah
Hamd Ali Al Harthi Omani Director
LEGAL FORM & OWNERS
Date of Establishment : 11th
July 2004
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1761617
Chamber Member No. : 4925
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
·
Dr
Munawar Hussain Pardhan
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Asim Munawar
Hussain Pardhan
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Abdullah
Hamd Ali Al Harthi
OPERATIONS
Activities: Engaged in the rental
of cold storage facilities for parties, complexes and businesses.
Import
Countries: Australia,
United States of America and India
Operating Trend: Steady
Subject has a
workforce of 8 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 2,100,000 RO 2,380,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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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%)