MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
L & T MODULAR FABRICATION YARD LLC |
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Registered Office : |
Ghalla
Area, PO Box 236, Fazal Al
Qabil 322, Muscat |
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Country : |
Oman |
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Date of Incorporation : |
07.04.2008 |
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Com. Reg. No.: |
1042928 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Assembly of offshore structures, rigs for well platforms and process platforms, jackets, decks, modular products such as fire heaters, and other general modules |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : L & T MODULAR FABRICATION YARD LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 7th April 2008
Commercial Registration Number : 1042928
Chamber Membership Number : 9058
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 30
Activities :
Assembly of offshore
structures, rigs for well platforms and process
platforms, jackets, decks, modular products such as fire
heaters, and other general modules
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
L & T MODULAR FABRICATION
YARD LLC
ADDRESS
Registered &
Physical Address
Location : Ghalla
Area
PO Box : 236, Fazal Al Qabil 322
Town : Muscat
Country : Oman
Telephone : (968) 26847054
Facsimile : (968) 26847054
Email : skm@intmfiy.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Muscat.
KEY PRINCIPALS
Name Position
·
Rashad
Mohamed Al Zubair Al Juma Managing
Director
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M.
C. Kothal General
Manager
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Sanjay
Sharma Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th
April 2008
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1042928
Chamber Member No. : 9058
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s) Percentage
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Larsen &
Toubro Limited 65%
India
·
Zubair
Corporation 35%
Oman
OPERATIONS
Activities: Engaged in the assembly of offshore
structures, rigs for well platforms and process platforms, jackets,
decks, modular products such as fire heaters, and other
general modules.
Import
Countries: India
Subject has a
workforce of 30 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Bank Muscat
SAOG
Ruwi Main Branch
PO Box: 6326
Muscat
Tel: (968) 24561399 / 24708543
Fax: (968) 24561036
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)