MIRA INFORM REPORT
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Report Date : |
29.04.2011 |
IDENTIFICATION DETAILS
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Name : |
AL SOKHOUR READYMIX CO. LLC |
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Registered Office : |
Al Sokhour Readymix Building, Main Street, Central Birka Area (aka Barka Area), P.O. Box 122 PC 328 Barka, Birka |
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Country : |
Oman |
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Date of Incorporation : |
01.07.2009 |
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Com. Reg. No.: |
1072462 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers, distributors
and suppliers of readymix
concrete |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
RO 50,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Oman |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company NAME
Al Sokhour Readymix Co. LLC
Company ADDRESS
Building : Al Sokhour
Readymix Building
Street : Main Street
Area : Central Birka Area (aka Barka Area)
P.O. Box : 122 PC 328 Barka
Town : Birka
Country : Oman, Sultanate of
Telephone: (968) 2687 4111 /
2688 4006 / Mobiles (968) 9828 2862 (Salim Al Masrouri) / 9828 2863 (Gelu
Visan)
Fax : (968) 2687 4049 / 2688 4007
E-Mail : salim@alsokhour.com
Trading styles : Al Sokhour Readymix
SENIOR COMPANY PERSONNEL
Name Position
1. Gelu Visan
Chief Executive
Officer
2. Salim Abdullah Ali Al Masrouri
Managing Director
3. Frank Gehrsitz
Marketing
Manager
Total Employees : 130
PAYMENTS
No complaints have been heard regarding payments from local suppliers
or banks.
We consider it is acceptable to deal with subject for MEDIUM amounts.
Opinion on maximum credit : RO 50,000
Trade risk assessment : Normal
Opinion on the credit figure of US DLRS 150,000 :
The above figure is higher than normally seen in one amount, however
could prove admissible if split into two transactions provided the total
indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME : BANK SOHAR SAOG
Branch : Main Branch
PO Box : 44
Town : Ruwi 112
Telephone: (968) 2450 2950
Fax : (968) 2450 3250
FINANCIAL INFORMATION
Private companies in Oman are not required to publish or disclose
balance sheets. However, the subject interviewed offered the
following information :
Sales Turnover : RO 2,000,000
– 2010 – exact*
Net Profit : not given
* First year of operations.
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 1 July 2009
C.R. No. : 1072462 (expiry date : 30 June 2014)
Chamber of Commerce Membership No. : 10761 (issued on 4 July 2009,
expiry date : 3 July 2011)
Authorised Capital : RO 150,000
Paid up Capital : RO 150,000
Limited Liability Company with the following shareholders :
1. Gelu Visan
(Romanian national)
2. Salim Abdullah Ali Al Masrouri
(Omani national)
The exact shareholding percentage was not disclosed.
* The local sponsor, according to Oman laws must hold a minimum of
51 % of the capital, however, in
practice and unofficially the
sponsor gets a fixed annual
percentage of the profit and a
sponsorship fee without any
investment in the company.
ACTIVITIES
The Company is involved in the following activities :
Manufacturers, distributors and suppliers of readymix concrete.
NACE Code : 2363
Imports machinery from Europe and Asia.
The Company does not export, all sales are domestic.
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative offices and a production plant
with storage facilities located at the heading address.
SPECIAL NOTE
Interviewed: Salim Abdullah Ali Al Masrouri (Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.33 |
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UK Pound |
1 |
Rs.74.14 |
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Euro |
1 |
Rs.65.78 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.