MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAMILY BOOK SHOP OMAN LLC |
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Registered Office : |
Sultan Building,
Rex Road, Ruwi, PO Box 376, Muscat
112 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1974 |
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Com. Reg. No.: |
1/3013/2 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Wholesale and Retail of Books, Magazines,
Newspapers and Journals |
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 : FAMILY BOOK SHOP OMAN LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1974
Commercial Registration Number : 1/3013/2
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 30
Activities : Wholesale and retail of books, magazines, newspapers and journals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
FAMILY BOOK SHOP
OMAN LLC
ADDRESS
Registered & Physical Address
Building : Sultan Building
Street : Rex Road
Area : Ruwi
PO Box : 376
Town : Muscat 112
Country : Oman
Telephone : (968) 24786461 / 24786462 / 24604245
Facsimile : (968) 24706816
Email : familybook@omantel.net.om
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Muscat.
Branch Office
(s)
Location Description
·
Sultan
Qaboos City Rented
showroom premises
Quram
Business District
Salalah
KEY PRINCIPALS
Name Nationality Position
·
Abdullah
Al Chousimi Lebanese Managing
Director
·
Mrs
Ayhsa Omar Omani Director
·
Abdulaziz
Mohamed
- Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1974
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/3013/2
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder (s)
·
Abdullah
Al Chousimi
·
Mrs
Ayhsa Omar
AFFILIATED COMPANIES
·
Family
Book Shop WLL
Manama
Bahrain
·
Family
Book Shop WLL
Doha
Qatar
·
Family
Book Shop Ltd
Cyprus
OPERATIONS
Activities: Engaged in the wholesale and retail of books, magazines, newspapers and journals.
Import
Countries: India and the
United Kingdom
Operating Trend: Steady
Subject has a
workforce of 30 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 2,700,000 RO
3,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Abdulaziz Mohamed, Sales
Manager.
BANKERS
·
The Commercial Bank of Oman SAOG
Muttrah Business District
PO Box 1696, Ruwi 112
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
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
company is considered to be a fair trade risk and the above credit figure is
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.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)