MIRA
INFORM REPORT
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Report Date : |
04.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL HAMADI TRADING & CONTRACTING EST |
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Registered Office : |
Al Hamadi Building, Darsait, Jibroo, PO Box 1266, Muscat 112 |
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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 : |
1994 |
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Com. Reg. No.: |
1005944 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import,
Processing and Distribution of General Foodstuffs, Frozen Foods, Fish and
Dairy Products |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL HAMADI TRADING & CONTRACTING EST
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 1994
Commercial Registration Number : 1005944
Invested Capital : RO 50,000
Total Workforce : 65
Activities :
Import, processing
and distribution of general foodstuffs, frozen foods, fish
and dairy products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL HAMADI TRADING
& CONTRACTING EST
ADDRESS
Registered & Physical Address
Building : Al Hamadi Building
Area : Darsait, Jibroo
PO Box : 1266
Town : Muscat 112
Country : Sultanate of Oman
Telephone : (968) 24795565 / 24796152
Facsimile : (968) 24702450
Email : alhamadi@omantel.net.om
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Suburban Business Area of Muscat.
Branch Office
(s)
Location Description
·
Salalah Distribution
depot
Tel: (968) 23291263
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Sohar Distribution
depot
KEY PRINCIPALS
Name Position
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Sheikh Abdullah Yousuf Ali Al Hamadi Proprietor
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Ibrahim Al Hamadi General
Manager
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Flynn De Limo Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1005944
Invested Capital
: RO 50,000
Mr Sheikh
Abdullah Yousuf Ali Al Hamadi is
the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import, processing and distribution
of general foodstuffs, frozen foods, fish and dairy
products.
Import
Countries: India
Brand Names: ROYAL OMAN
Operating Trend: Steady
Subject has a
workforce of 65 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 2,200,000 RO 2,450,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Flynn De Limo, Assistant General
Manager.
BANKERS
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Bank Muscat Al
Ahli Al Omani
Mutrah Business District
PO Box 134, Ruwi 112
Muscat
Tel: (968) 24703044
Fax: (968) 24793536
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction May
2006
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Al Hamadi Trading
& Contracting Est is engaged in the manufacture, processing and import of general foodstuffs,
frozen foods, fish and dairy products.
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
business is considered to be 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.44.37 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.63.41 |
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%)