MIRA INFORM REPORT

 

 

Report Date :

28.01.2011

 

IDENTIFICATION DETAILS

 

Name :

AL AZZAN TRADING & INTERNATIONAL INVESTMENT CO LLC

 

 

Registered Office :

Main Street, Al Hamriyah District, P O Box 361, Al Khuwair 133

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

14.10.1997

 

 

Com. Reg. No.:

1/55855/2

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale and retail of carpets, upholstery, rugs, curtains, sofas and soft furnishings

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

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

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : AL AZZAN TRADING & INTERNATIONAL INVESTMENT CO LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 14th October 1997

Commercial Registration Number            : 1/55855/2

Chamber Membership Number                : 2647

Issued Capital                                        : RO 100,000

Paid up Capital                                      : RO 100,000

Total Workforce                                     : 20

Activities                                               : Wholesale and retail of carpets, upholstery, rugs, curtains, sofas and

soft furnishings

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Fadi Al Ramahi, General Manager

 

 

COMPANY NAME

 

AL AZZAN TRADING & INTERNATIONAL INVESTMENT CO LLC

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Main Street

Area                 : Al Hamriyah District

PO Box             : 361

Town                 : Al Khuwair 133

Country             : Oman

Telephone         : (968) 24836622

Facsimile          : (968) 24866222

Mobile               : (968) 96195175 / 99312734

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Ghala Industrial Area                                                             Warehouse premises

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Homoud Azzan Al Hamdrami                                              Managing Director

 

·       Jassim Mohamed Homoud Azzan Al Hamdrami                                   Director

 

·       Rahma Ali Azzan Al Hamdrami                                                          Director

 

·       Fadi Al Ramahi                                                                                 General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 14th October 1997

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/55855/2

 

Chamber Member No. : 2647

 

Issued Capital              : RO 100,000

 

Paid up Capital            : RO 100,000

 

Name of Shareholder (s)

 

·       Mohamed Homoud Azzan Al Hamdrami

 

·       Jassim Mohamed Homoud Azzan Al Hamdrami

 

·       Rahma Ali Azzan Al Hamdrami

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of carpets, upholstery, rugs, curtains, sofas and soft furnishings.

 

Import Countries: Europe and GCC countries.

 

Operating Trend: Steady

 

Subject has a workforce of 20 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 950,000                               RO 1,200,000

 

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

 

The above figures were provided by Mr Fadi Al Ramahi, General Manager

 

 

BANKERS

 

·       National Bank of Oman Ltd

PO Box: 1011

Al Khuwair

Tel: (968) 24510007 / 24510543

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.57

UK Pound

1

Rs.72.50

Euro

1

Rs.62.46

 

 

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

 

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.