MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIDDLE EAST SONS CO LLC |
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Registered Office : |
Seeb
Souq, P O Box 503, Muscat 121 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.03.2000 |
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Com. Reg. No.: |
1/63762/2 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Wholesale and Retail of General 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$ 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 : MIDDLE EAST SONS CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st March 2000
Commercial Registration Number : 1/63762/2
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 12
Activities : Wholesale and retail of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Adel Al Nabhani, Director
COMPANY NAME
MIDDLE EAST SONS CO
LLC
ADDRESS
Registered &
Physical Address
Location : Seeb
Souq
PO Box : 503
Town : Muscat
121
Country : Oman
Telephone : (968) 24422125
Facsimile : (968) 24422123
Email : mesco@omantelnet.om
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
·
Mansour
Al Amry Omani Managing
Director
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Adel
Al Nabhani Iranian Director
·
Nader
Al Nabhani Iranian Director
LEGAL FORM & OWNERS
Date of Establishment : 1st
March 2000
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/63762/2
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder
(s)
·
Mansour
Al Amry
·
Adel
Al Nabhani
·
Nader
Al Nabhani
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff.
Import
Countries: India, Iran and
China
Operating Trend: Steady
Subject has a
workforce of 12 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 875,000 RO 950,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Oman
International Bank
Al Jaame Street
P.O.Box : 4216
Muscat
Tel: (968) 24703614 / 24707328
/ 24793450
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)