MIRA
INFORM REPORT
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Report Date : |
04.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
KURIYA MURIYA TRADING CO LLC |
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Registered Office : |
Al Aman House,
Ground Floor, Al Wadi Al Kabir, Ruwi 111, PO Box 1761 & 544, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
1/25679/3 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Wholesale and Retail of General
Foodstuff |
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 : KURIYA MURIYA TRADING CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1978
Commercial Registration Number : 1/25679/3
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 40
Activities : Wholesale and retail of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
KURIYA MURIYA
TRADING CO LLC
ADDRESS
Registered & Physical Address
Building : Al Aman House, Ground Floor
Area : Al Wadi Al Kabir, Ruwi 111
PO Box : 1761 & 544
Town : Muscat
Country : Oman
Telephone : (968) 24815466 / 24547093
Facsimile : (968) 24816496 / 24545716
Email : iskunju@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
·
Mawalih
Area Rented
showroom premises
Muscat
Tel: (968) 24547092
/ 24547093
KEY PRINCIPALS
Name Nationality Position
·
Mohamed Ismail
Kunju Indian Managing Director
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Mohd Iqbal
Kunju Indian Director
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Abdullah
Mohamed Said Al Farsi Omani Director
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N.
Menon - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1978
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/25679/3
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
·
Mohamed Ismail
Kunju
·
Mohd Iqbal
Kunju
·
Abdullah
Mohamed Said Al Farsi
OPERATIONS
Activities: Engaged in the wholesale and retail of general foodstuff.
Import
Countries: India, Thailand
and Europe
Brand Names: AL EMIRATE, SAFA, SAFFA & SUPREME
Operating Trend: Steady
Subject has a
workforce of 40 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 3,250,000 RO 3,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by N. Menon, Finance Manager.
BANKERS
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Bank Muscat
SAOG
Al Wadi Al Kabir
Muscat
Tel: (968) 247710808
Fax: (968) 247716760
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.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%)