MIRA INFORM
REPORT
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Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Villa No. 1053,
Way No. 2414, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.03.1994 |
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Com. Reg. No.: |
1406043 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of communication products, software and hardware |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 :
Country of Origin :
Legal Form : Limited Liability Company – LLC
Registration Date : 7th March 1994
Commercial Registration Number : 1406043
Chamber Membership Number : 1431
Issued Capital : RO 380,000
Paid up Capital : RO 380,000
Total Workforce : 45
Activities : Distributors of communication products, software and hardware.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Parjeet Koreyan, Finance Manager
COMPANY NAME
company ADDRESS
Registered & Physical Address
Location : Villa No. 1053, Way No. 2414,
PO Box : 198, Ruwi 112
Town :
Country :
Telephone : (968) 24576666
Facsimile : (968) 24562662 / 24576600
Email : mdsoman@omantel.net.om
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Muscat.
KEY PRINCIPALS
Name Position
·
Jihad
Abi Saleh General
Manager
·
Said Al
Mandhari Assistant
General Manager
·
Parjeet
Koreyan Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th
March 1994
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1406043
Chamber Member No. : 1431
Issued Capital : RO 380,000
Paid up Capital : RO 380,000
Name of Shareholder
(s) Percentage
·
Tel: (961-1) 582000
AFFILIATED COMPANIES
Subject is a member of the Mideast Data Systems group of companies which
includes the following concerns:
·
Jordan
Data Systems Co Ltd (JDS)
New
Jabal
PO Box: 927060
Tel: (962-6) 4642723
Fax: (962-6) 4645864
Email: jds@jds.com.jo
·
Levant
Equipment Company
Tel: (962-6) 5699528
Fax: (962-6) 5601706
· Haitham Enterprises
Al Malaz
District
Tel:
(966-1) 4732087
Fax:
(966-1) 4732108
Email: powergps@cyberia.net.sa
·
Ramallah
Tel:
(972-2) 2987197
Fax:
(972-2) 2963680
·
Advanced
Financial Solutions
Al
Tel: (973-17) 530241
Fax: (973-17) 536244
·
Mideast
Data Systems Saudi Arabia Co Ltd
Al Malaz District
PO Box: 40639
Tel: (966-1) 4789260
Fax: (966-1) 4771180
·
Bu
Umm
Al Karama
PO Box: 5803
Tel: (971-4) 3370070
Fax: (971-4) 3374103
OPERATIONS
Activities: Engaged in the import and distribution of
communication products, software and hardware. Subject also provides
communication and IT solutions.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 45 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 4,985,000 RO 5,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Parjeet Koreyan, Finance Manager
BANKERS
·
National
Bank of Oman Limited
Ruwi Branch
PO Box: 3752
Tel: (968) 24708898
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 |
|
US Dollar |
1 |
Rs.45.11 |
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|
1 |
Rs.73.25 |
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Euro |
1 |
Rs.61.70 |
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 |
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.