MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NATIONAL PLASTIC FACTORY |
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Registered Office : |
Building No.
5871, Street No. 58, Al Wadi Al Kabir, PO
Box 371, Muttrah 114, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
21.07.1992 |
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Com. Reg. No.: |
1353870 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of Injection and Blow Mouldings for Plastic
products specialising in Packaging Solutions |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NATIONAL PLASTIC FACTORY
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 21st July 1992
Commercial Registration Number : 1353870
Chamber Membership Number : 1463
Invested Capital : RO 250,000
Total Workforce : 175
Activities : Manufacture of injection and blow mouldings for plastic products
specialising in packaging solutions
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
NATIONAL
PLASTIC FACTORY
ADDRESS
Registered & Physical Address
Street : Building No. 5871, Street No.
58
Area : Al
Wadi Al Kabir
PO Box : 371, Muttrah 114
Town : Muscat
Country : Oman
Telephone : (968) 24811689
Facsimile : (968) 24810078
Email : info@nationalplasticoman.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Muscat.
KEY PRINCIPALS
Name Position
·
Amer
Bin Showain Bin Amer Al Hosni Proprietor
·
Nasser
Amer Bin Showain Bin Amer Al Hosni General
Manager
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Faisal
Amer Bin Showain Bin Amer Al Hosni Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st
July 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1353870
Chamber Member No. : 1463
Invested Capital
: RO 250,000
Mr Amer Bin Showain Bin Amer Al Hosni is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacture of injection and
blow mouldings for plastic products specialising in packaging solutions.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of approximately 175 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 4,200,000 RO 5,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Faisal Amer Bin Showain Bin
Amer Al Hosni, Assistant General Manager.
BANKERS
·
Bank Muscat
SAOG
Al Wadi Al Kabir
Tel: (968) 27710808
Fax: (968) 27716760
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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.47.46 |
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UK Pound |
1 |
Rs.83.37 |
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Euro |
1 |
Rs.64.46 |
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%)