MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL HABIB STEEL & ENGINEERING SERVICES LLC |
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Registered Office : |
Ghala Industrial
Area, PO Box 486 & 773, Al Azaiba 130, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
27.08.1997 |
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Com. Reg. No.: |
1566709 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Collectors and Exporters of
Scrap Metal and Steel |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL HABIB STEEL & ENGINEERING SERVICES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 27th August 1997
Commercial Registration Number : 1566709
Chamber Membership Number : 3707
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 130
Activities : Collectors and exporters of scrap metal and steel
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
AL
HABIB STEEL & ENGINEERING SERVICES LLC
ADDRESS
Registered & Physical Address
Location : Ghala Industrial Area
PO Box : 486 & 773, Al Azaiba 130
Town : Muscat
Country : Oman
Telephone : (968) 24504330
Facsimile : (968) 24597459
Mobile : (968) 99368257
Email : habibsts@omantel.net.om
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are owned and located in
the Industrial Area of Muscat.
KEY PRINCIPALS
Name Nationality Position
·
Akhtar
Hussain Babar Pakistani Managing Director
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Mrs
Wijdan Ali Mallullah Al Lawti Omani Director
·
Shahid Mahmood - Export
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
August 1997
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1566709
Chamber Member No. : 3707
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
·
Akhtar
Hussain Babar
·
Mrs
Wijdan Ali Mallullah Al Lawti
OPERATIONS
Activities: Engaged as collectors
and exporters of scrap metal and steel.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of approximately 130 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 3,800,000 RO 5,300,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Shahid Mahmood, Export Manager
BANKERS
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Oman
International Bank
PO Box 467, Azaiba 130
Muscat
Tel: (968) 24596671 / 24596672
Fax: (968) 24596653
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.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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%)