MIRA
INFORM REPORT
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Report Date : |
25.11.2008 |
IDENTIFICATION DETAILS
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Name : |
NADHIRA ENTERPRISES LLC |
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Registered Office : |
Building No. 106,
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
28.02.2002 |
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Com. Reg. No.: |
1014872 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and Distribution of Oilfield Equipment and the
Provision of Oilfield 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 : NADHIRA ENTERPRISES LLC
Country of Origin :
Legal Form : Limited Liability Company – LLC
Registration Date : 28th February 2002
Commercial Registration Number : 1014872
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 25
Activities : Import and distribution of oilfield equipment and the provision of oilfield
services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
NADHIRA ENTERPRISES
LLC
ADDRESS
Registered & Physical Address
Building : Building No. 106
Street :
Area : Wattayah, Ruwi 112
PO Box : 2392
Town :
Country :
Telephone : (968) 24566346
Facsimile : (968) 24563748
Email : nadhira@omantel.net.om
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
KEY PRINCIPALS
Name Position
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Nazim Saeed Hamdan Al Rowihi Managing
Director
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Mudrik Nazim Saeed Hamdan Al Rowihi Director
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Azmi Abdul Wahab General
Manager
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LEGAL FORM & OWNERS
Date of Establishment : 28th
February 2002
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1014872
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder (s)
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Nazim Saeed Hamdan Al Rowihi
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Mudrik Nazim Saeed Hamdan Al Rowihi
OPERATIONS
Activities: Engaged in the import and distribution of
oilfield equipment and the provision of oilfield services.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 25 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 1,350,000 RO 1,800,000
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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The Commercial Bank of
Muttrah Business District
PO Box : 1696, Ruwi 112
Tel : (968) 793225 / 793226 / 793228
Fax : (968) 793229
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.49.97 |
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1 |
Rs.75.45 |
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Euro |
1 |
Rs.64.21 |
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%)