MIRA
INFORM REPORT
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Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
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Name : |
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Formerly Known As : |
ASIA FOOD INDUSTRIES CO. LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
07.10.2007 |
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Com. Reg. No.: |
1028046 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and distributors of foodstuff specializing in tea. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
RO 20,000 |
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Status : |
Small Company |
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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 |
Company
name
ADDRESS
Building :
Street : Road No. 6
Area : Industrial Area, Nizwa
P.O. Box : 275
Town : Nizwa 611
Country :
Telephone : (968) 2544 9488
/
Fax : (968) 2544
9442
Also Known as : Asia Food
Industries Co. LLC
SENIOR COMPANY PERSONNEL
Name Position
1. Yousif Yaqoub Nasser Ambusaidi
Managing Director
2. Ahmed Salem Al Busaidi
Director
3. Altayeb Mohammed Production
Manager
Total Employees : 10
PAYMENTS
No complaints have been heard regarding payments from local suppliers
or banks.
We consider it is acceptable to deal with subject for SMALL amounts.
Opinion on maximum credit : RO 20,000
Trade risk assessment :
Opinion on the credit figure of US DLRS 150,000 :
The above figure is higher than normally seen in one amount, however
could prove admissible in a short series of transactions provided
the total indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME : BANK
Branch : Main Branch
PO Box : 794
Town : Nizwa 611
Telephone : (968) 2479 5555
Fax : (968) 2541 0887
FINANCIAL INFORMATION
Private companies in
or disclose balance sheets. However, the subject interviewed
offered the following information :
Sales Turnover : RO 600,000 –
2010 - approx
Net Profit : not given
but stated to be profitable
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 7 October 2007
C.R. No. : 1028046 (expiry date: 6 October 2012)
Chamber of Commerce Membership No. : 323 (issued on 8 October 2007,
expiry date : 7 October 2011)
Capital : not given
Limited Liability Company with the following shareholders :
Percentage
1. Yousif Yaqoub Nasser Ambusaidi 50%
(Omani national)
2. Ahmed
(Omani national)
Affiliated companies of Asia Food Industries LLC :
Associates
Action Films LLC
Ruwi 112
Telephone: (968) 2478 0383
Fax : (968) 2478 0353
ACTIVITIES
The Company is involved in the following activities :
Importers and distributors of foodstuff specializing in tea.
Packers of tea.
Imports from Asia, mainly from
The company does not export, all sales are domestic.
FACILITIES
The Company has the following facilities :
Rented office premises and a workshop with storage facilities located at
the heading address.
SPECIAL NOTE
The PO Box number which you provided : 473, Ruwi, Postal Code-112 is
misspelt and applies to subject’s affiliated company PO Box number. Please note
that subject’s correct PO Box number is as per heading.
Interviewed : Yousif Yaqoub Nasser Ambusaidi (Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.53 |
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1 |
Rs.72.56 |
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Euro |
1 |
Rs.60.62 |
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.