MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
LA TERRAZZA MEXICAN RESTAURANT LLC |
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Registered Office : |
Hatata House
Compound, Wadi Adi R/A Street, PO Box 385, Jibroo 114 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
23.04.1997 |
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Com. Reg. No.: |
1567390 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Operators of an Indian Restaurant |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : LA TERRAZZA MEXICAN RESTAURANT LLC
Trading As : PASSAGE TO INDIA RESTAURANT
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 23rd April 1997
Commercial Registration Number : 1567390
Chamber Membership Number : 22743
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 30
Activities : Operators of an Indian restaurant
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Suni Joseph, Commercial Manager
COMPANY NAME
LA TERRAZZA MEXICAN
RESTAURANT LLC
TRADING AS
PASSAGE
TO INDIA RESTAURANT
ADDRESS
Registered & Physical Address
Building : Hatata House
Compound
Street : Wadi
Adi R/A Street
PO Box : 385
Town : Jibroo 114
Country : Oman
Telephone : (968) 24568480
Facsimile : (968) 24568480
Mobile : (968) 99675041
Email : passage2ind@yahoo.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Jibroo.
KEY PRINCIPALS
Name Nationality Position
·
K.
K. Mohandaz Indian Managing Director
·
Salem
Marhoon Sulaiman Al Hassani Omani Director
·
Suni
Joseph - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
April 1997
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1567390
Chamber Member No. : 22743
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
·
K.
K. Mohandaz
·
Salem
Marhoon Sulaiman Al Hassani
OPERATIONS
Activities: Operators of an Indian restaurant. Subject
was originally established as a Mexican restaurant but changed to Indian
cuisine approximately 6 years ago.
Import
Countries: India
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 1,800,000 RO 2,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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The Commercial Bank of Oman SAOG
Muttrah Business District
PO Box 1696, Ruwi 112
Muscat
Tel: (968) 793225 / 793226 / 793228
Fax: (968) 793229
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.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)