MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL QUSIDYA TRADING & CONTRACTING |
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Registered Office : |
Honda Road, Al
Hail, Hamriya Roundabout, PO Box 909,
Muscat 113 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
1/437722/4 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Marble, Granite, Ceramic
and Sanitary Ware Products. General
Maintenance and Construction Contractors. |
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 : AL QUSIDYA TRADING & CONTRACTING
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 1994
Commercial Registration Number : 1/437722/4
Invested Capital : RO 50,000
Total Workforce : 20
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Saif Bin Sulaiman Al Hadi, Proprietor
COMPANY NAME
AL
QUSIDYA TRADING & CONTRACTING
ADDRESS
Registered & Physical Address
Street : Honda Road
Area : Al Hail, Hamriya Roundabout
PO Box : 909
Town : Muscat 113
Country : Oman
Telephone : (968) 24833555 / 24832498
Facsimile : (968) 26893622
Mobile : (968) 99339568
Premises
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Muscat.
KEY PRINCIPALS
Name Nationality Position
·
Saif
Bin Sulaiman Al Hadi Omani Proprietor & General
Manager
·
Ramadan
Khan
- Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1/437722/4
Invested Capital
: RO 50,000
Mr Saif Bin Sulaiman Al Hadi is the sole proprietor of
the business.
OPERATIONS
Activities: Subject’s activities are performed through
the following divisions:
· Trading Division
Engaged in the import and
distribution of marble, granite, ceramic and sanitary
ware products.
·
Contracting Division
Engaged as general
maintenance and construction contractors.
Import
Countries: Spain, Italy and
India
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 1,875,000 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
PO Box 6326
Muscat
Tel: (968) 24701769
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
business 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.46.94 |
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UK Pound |
1 |
Rs.85.57 |
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Euro |
1 |
Rs.67.79 |
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%)