MIRA
INFORM REPORT
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Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
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Name : |
BAHAJAT AL KHUWAIR OVERSEAS LLC |
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Registered Office : |
Commercial Business District Al Khuwair Area PO Box 1105 Muscat 112 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
27.03.2007 |
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Com. Reg. No.: |
1/01574/7 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of seafood products, frozen fish and shrimps. |
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No. of Employees : |
16 |
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 |
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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUMMARY
Company Name : BAHAJAT AL KHUWAIR OVERSEAS LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 27th March 2007
Commercial Registration Number : 1/01574/7
Chamber Membership Number : 6880
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 16
Activities : Distributors of seafood products, frozen fish and shrimps.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Elias Patiwala, Marketing Manager
COMPANY NAME
BAHAJAT AL KHUWAIR OVERSEAS LLC
ADDRESS
Registered & Physical Address
Location : Commercial
Business District
Area : Al Khuwair
Area
PO Box : 1105
Town : Muscat 112
Country : Oman
Telephone : (968) 24815255
Facsimile : (968) 24832958
Mobile : (968)
99342491 / 99202993
Email : ahmedmori@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Muscat.
KEY PRINCIPALS
Name Position
· Khalid Baksh Al
Baloushi Managing
Director
· Khada Baksh Al
Baloushi Director
· Ghulam Ahmed
Ghulam Mohamed Director
· Ahmed Mori General
Manager
· Elias Patiwala Marketing
Manager
· Farooq Malik Financial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 27th
March 2007
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/01574/7
Chamber Member No. : 6880
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
· Khalid Baksh Al
Baloushi
· Khada Baksh Al
Baloushi
· Ghulam Ahmed
Ghulam Mohamed
AFFILIATED COMPANIES
· Al Jabaly Trading
LLC
Muscat
OPERATIONS
Activities: Engaged in the import and distribution of seafood products, frozen fish
and shrimps.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 16 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales RO
1,625,000 RO
1,950,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
· Commercial Bank of Oman SAOG
Rami
Plaza
PO Box:
4696
Muscat
Tel:
(968) 24793220
Fax:
(968) 24793229
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be 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.51.39 |
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|
1 |
Rs.80.20 |
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Euro |
1 |
Rs.68.92 |
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.