MIRA INFORM REPORT
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Report Date : |
17.12.2011 |
IDENTIFICATION DETAILS
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Name : |
MEHDI FOODS LLC |
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Formerly Known As : |
Suroor Food Industries LLC |
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Registered Office : |
Rusayl Industrial
Area, Road No. 8, P O Box 89, Al Rusayl 124 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.05.1991 |
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Com. Reg. No.: |
1/32085/8 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture and distribution of concentrated juices |
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No. of Employees
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56 persons |
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$ 500,000 |
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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 30th, 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 : MEHDI FOODS LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 19th May 1991
Commercial Registration Number : 1/32085/8
Chamber Membership Number : 1371
Issued Capital : RO 285,000
Paid up Capital : RO 285,000
Total Workforce : 56
Activities : Manufacture and distribution of concentrated juices.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Taher Al Lawati, Administration Manager
COMPANY NAME
MEHDI FOODS LLC
company ADDRESS
Registered & Physical
Address
Location : Rusayl Industrial Area, Road No. 8
PO Box : 89
Town : Al Rusayl 124
Country : Oman
Telephone : (968) 24446942 / 24446662
Facsimile : (968) 24446943
Mobile : (968) 99222310
Email : info@mehdifoods.com
/ zaaky@omantel.net.om
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Rusayl.
KEY PRINCIPALS
Name Position
·
Mehdi
Jawad Salman Managing
Director
·
Sadiq
Mehdi Jawad Salman Director
·
Taher
Al Lawati Administration
Manager
·
Hassan
Qassim Factory
Manager
·
D K
Krishna Financial
Manager
·
Abdullah
Al Jabri Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th
May 1991
Legal Form :
Limited Liability Company –
LLC
History : Subject was established in 1991 under the
name “Suroor Food Industries LLC”, however in 2004 it re-registered under
the new name of “Mehdi Foods LLC”.
Commercial Reg. No. : 1/32085/8
Chamber Member No. : 1371
Issued Capital : RO 285,000
Paid up Capital : RO 285,000
Name of
Shareholder (s)
·
Mehdi
Jawad Salman
·
Sadiq
Mehdi Jawad Salman
OPERATIONS
Activities: Engaged in the manufacture and distribution
of concentrated juices.
Import
Countries: Europe and the
Far East.
Brand Names: YAL 4 YOU
Operating Trend: Steady
Subject has a
workforce of 56 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 4,500,000 RO 4,860,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of Oman Limited (SAOG)
PO Box: 3751, Ruwi
Muscat
Tel: (968) 24734414 / 24734411
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.52.81 |
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UK Pound |
1 |
Rs.82.00 |
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Euro |
1 |
Rs.68.81 |
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.