MIRA INFORM REPORT

Report Date :

18.01.2011

IDENTIFICATION DETAILS

Name :	AL NABOOGH TRADING

Registered Office :	Road No. 512, Greater Muttrah Area, P O Box 36, Azaiba

Country :	Oman

Financials (as on) :	31.12.2010

Date of Incorporation :	26.11.1993

Com. Reg. No.:	1370251

Legal Form :	Sole Proprietorship

Line of Business :	Wholesaler and retail of corporate gift items

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 175,000

Status :	Satisfactory

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Oman

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : AL NABOOGH TRADING

Country of Origin : Oman

Legal Form : Sole Proprietorship

Registration Date : 26^th November 1993

Commercial Registration Number : 1370251

Chamber Membership Number : 6008

Invested Capital : RO 30,000

Total Workforce : 3

Activities : Wholesaler and retail of corporate gift items

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 175,000

Person Interviewed : Kajal Nathan, Sales Manager

COMPANY NAME

AL NABOOGH TRADING

company ADDRESS

Registered & Physical Address

Street : Road No. 512

Area : Greater Muttrah Area

PO Box : 36

Town : Azaiba

Country : Oman

Telephone : (968) 24701126

Facsimile : (968) 24701126

Mobile : (968) 99355066 / 99349147

Email : alnaboogh@yahoo.com

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Azaiba.

KEY PRINCIPALS

Name Position

· Mahmoud Mohamed Al Mahrooqi Proprietor & General Manager

· Kajal Nathan Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 26^th November 1993

Legal Form : Sole Proprietorship

Commercial Reg. No. : 1370251

Chamber Member No. : 6008

Invested Capital : RO 30,000

Mr Mahmoud Mohamed Al Mahrooqi is the sole proprietor of the business.

OPERATIONS

Activities : Engaged in the wholesale and retail of corporate gift items, including diaries and T-

shirts.

Import Countries : Europe and the Far East.

Operating Trend : Steady

Subject has a workforce of 3 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 780,000 RO 900,000

Local sources consider subject’s financial condition to be Fair.

The above figures were provided by Ms Kajal Nathan, Sales Manager

BANKERS

· Citibank NA

PO Box: 918

Muscat

Tel: (968) 24795013

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

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.59
UK Pound	1	Rs.72.31
Euro	1	Rs.60.73

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.