MIRA INFORM REPORT

 

 

Report Date :

30.08.2011

 

IDENTIFICATION DETAILS

 

Name :

AL NAJWA INTERNATIONAL LLC

 

 

Formerly Known As :

AL NAJWA INTERNATIONAL

 

 

Registered Office :

Shop No. 75 Corniche Street Muttrah Souq (aka Muttrah Market) P.O. Box  1750 Muttrah 114 Muscat

 

 

Country :

Oman

 

 

Date of Incorporation :

28.02.2005

 

 

Com. Reg. No.:

1/78162/6

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers and retailers of readymade garments and textiles.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

RO 10,000

Status :

Small Company

Payment Behaviour :

No Complaints

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Oman

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

AL NAJWA INTERNATIONAL LLC

 

 

ADDRESS

 

Building :  Shop No. 75

 

Street   :  Corniche Street

 

Area     :  Muttrah Souq (aka Muttrah Market)

 

P.O. Box :  1750 Muttrah 114

Town     :  Muscat

Country  :  Oman, Sultanate of

 

Telephone:  (968) 2471 1904 / Mobile (968) 9936 4329 (Nadumuri

             Krishnan Kutti Rajan)

Fax      :  (968) 2471 1904 (ask for fax)

Email    :  najwa@omantel.net.om

 

Also Known As :  Al Najwa International

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                 Position

 

1. Nadumuri Krishnan Kutti Rajan            Managing Director

 

2. K.M. Hydrose                                                Director

 

3. Murtaza Mohammed Jawad Talib         Director

 

 

Total Employees : 7

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers

or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts.

 

Opinion on maximum credit : RO 10,000

 

Trade risk assessment : Normal

 

Opinion on the credit figure of US DLRS 150,000 :

 

The above figure is much higher than normally seen in one amount, however could prove admissible in a series of transactions provided

the total indebtedness is strictly monitored.

 

 

PRINCIPAL BANKERS

 

NAME     : HABIB BANK LTD

 

Branch   : Main Branch

P.O. Box : 1326

Town     : Ruwi 112

 

Telephone: (968) 2481 7139

Fax      : (968) 2481 5809

 

 

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 300,000 - 2009 - exact

                    : RO 250,000 - 2010 - exact*

                    : RO 200,000 – 2011 – exact*

 

Net Profit          : not given

 

* Decrease in sales turnover in 2010 and 2011 was due to unfavourable market conditions.

 

Financial year ends 31 March.

 

LEGAL STATUS AND HISTORY

 

Date Started : 28 February 2005

 

C.R. No. : 1/78162/6 (expiry date: 27 February 2015)

 

Chamber of Commerce Membership No. : 5139 (issued on 5 March 2005,

expiry date: 4 March 2012)

 

Authorised Capital : RO 150,000

 

Paid up Capital : RO 150,000

 

 

Limited Liability Company with the following shareholders :

 

                                                                        Percentage

 

1. Nadumuri Krishnan Kutti Rajan                        55%

  (Indian national)

 

2. Murtaza Mohammed Jawad Talib                     30%

  (Omani national)

                  

3. K.M. Hydrose                                                15%

  (Indian national)

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers and retailers of readymade garments and textiles.

 

NACE Code: 4751 / 4771 / 4616

 

Imports from India, Thailand, China and Dubai (UAE).

 

The Company does not export, all sales are domestic.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented office premises and a retail outlet with storage facilities

located at the heading address as well as three other retail outlets located elsewhere in Muttrah area.

 

 

SPECIAL NOTE

 

Interviewed : Nadumuri Krishnan Kutti Rajan (Managing Director).

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.87

UK Pound

1

Rs.75.14

Euro

1

Rs.66.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.