MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL NABIL FOOD INDUSTRIES LLC |
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Registered Office : |
Rusayl Road, PO
Box 29, Al Rusayl 124 |
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Country : |
Sultanate of Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
17.08.2001 |
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Com. Reg. No.: |
1/677136 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacture of Chips, Snacks and Biscuits |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL NABIL FOOD INDUSTRIES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 17th August 2001
Commercial Registration Number : 1/677136
Chamber Membership Number : 3979
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 150
Activities : Manufacture of chips, snacks and biscuits
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
AL NABIL FOOD
INDUSTRIES LLC
ADDRESS
Registered & Physical Address
Location : Rusayl Road
PO Box : 29
Town : Al Rusayl 124
Country : Sultanate of
Oman
Telephone : (968) 24446034
/ 24446035
Facsimile : (968) 24446048
Email : nabil@nabilbiscuit.com
Premises
Subject operates from
a large suite of offices and a factory that are owned and located in the
Industrial Area of Al Rusayl.
KEY PRINCIPALS
Name Position
·
Raedh Dhakher
Sulaiman Jaffer Managing
Director
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Abdul Mehdi
Abdul Baqi Director
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K M S
Sereenvas General
Manager
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Vemal Kumar Commercial
Manager
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Rana Kanta Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
August 2001
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/677136
Chamber Member No. : 3979
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder (s)
·
Raedh Dhakher
Sulaiman Jaffer
·
Abdul Mehdi
Abdul Baqi
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National
Biscuits Industries Ltd SAOG
Rusayl Road
PO Box 29
Al Rusayl 124
Tel: (968) 24446034 /
24446035
Fax: (968) 24446048
OPERATIONS
Activities: Engaged in the manufacture of chips, snacks
and biscuits.
Import
Countries: Europe and the
United States of America
Operating Trend: Steady
Subject has a workforce
of approximately 150 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 3,850,000 RO 4,175,000
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 Oman SAOG
Rami Plaza
PO Box 4696
Muscat
Tel: (968) 24793220
Fax: (968) 24793229
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction April
2006
Credit amount 10,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Established in
2001, subject is involved in the manufacture of chips, snacks and biscuits.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear and the
above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
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%)