MIRA INFORM
REPORT
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Report Date : |
07.01.2011 |
IDENTIFICATION DETAILS
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Name : |
DOLPHIN TRADING & INVESTMENT LLC |
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Registered Office : |
Way No. 6621,
Plot No. 906, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
16.02.2006 |
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Com. Reg. No.: |
1/82141/5 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Civil and Electro-Mechanical Contractors |
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$ 200,000 |
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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 : DOLPHIN TRADING & INVESTMENT LLC
Country of Origin :
Legal Form : Limited Liability Company – LLC
Registration Date : 16th February 2006
Commercial Registration Number : 1/82141/5
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 350
Activities : Civil and electro-mechanical contractors
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Biju Narayan, Finance Manager
COMPANY NAME
DOLPHIN TRADING & INVESTMENT LLC
company ADDRESS
Registered & Physical Address
Location : Way No. 6621, Plot No. 906,
PO Box : 1845
Town : Azaiba 130
Country :
Telephone : (968) 24502179 / 24503896 / 24592591
/ 24592596
Facsimile : (968) 24503273
Email : dolphin@omantel.net.om
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Azaiba.
KEY PRINCIPALS
Name Nationality Position
·
Sheikh Hameed
Salim Issa Al Harrasi Omani Chairman
·
Emanuel
George Indian Managing
Director
·
Mohamed
Hameed Salim Issa Al Harrasi Omani Director
·
K
Chinna Durai - Technical
Manager
·
Biju
Narayan - Finance
Manager
·
Tina Meri
Thomas - Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 16th
February 2006
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/82141/5
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Name of Shareholder
(s)
·
Sheikh
Hameed Salim Issa Al Harrasi
·
Emanuel
George
·
Mohamed
Hameed Salim Issa Al Harrasi
AFFILIATED COMPANIES
·
Dolphin
Trading Co
OPERATIONS
Activities: Engaged as civil and electro-mechanical contractors.
Subject is an Excellent Grade Company and is also registered with the PDO.
Subject also provides electro-mechanical services such as
installation of complete internal and external cold water systems, installation
of HVAC system, installation of electrical services like
Current Projects: Subject is currently executing a civil project for the Ministry of Commerce & Industry in Ghala Industrial Area, the project is estimated at 1 Million Riyal Omani. Subject is also engaged in a civil project for the Ministry of Education. “Dhiri Regional Office” work involves the construction of a four storey building, the total value of the contract is estimated at 1.2 Million Riyal Omani.
Operating Trend: Steady
Subject has a
workforce of approximately 350 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year Ending 31/12/08: Year Ending 31/12/09:
Total Sales RO 2,420,000 RO 2,900,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Biju Narayan, Finance Manager
BANKERS
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HSBC
Bank
Muttrah Business District
PO Box: 240, Ruwi 112
Tel: (968) 24700810 / 24799920 / 24799927
Fax: (968) 24704241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of
this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.31 |
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|
1 |
Rs.70.26 |
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Euro |
1 |
Rs.59.56 |
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.