MIRA INFORM
REPORT
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Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
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Name : |
BLUE STAR ENTERPRISES LLC |
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Registered Office : |
Madinat Sultan
Qaboos, P O Box 6, Seeb 111 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
27.06.1995 |
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Com. Reg. No.: |
1/48972/0 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of electrical products including transformers, cables, switches and circuit breakers |
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$ 300,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Oman |
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 |
Bottom of Form
SUMMARY
Company Name : BLUE STAR ENTERPRISES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 27th June 1995
Commercial Registration Number : 1/48972/0
Chamber Membership Number : 2399
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 15
Activities : Distributors of electrical products including transformers, cables,
switches and circuit breakers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
Person Interviewed : N K Unni, General Manager
COMPANY NAME
BLUE STAR ENTERPRISES LLC
company ADDRESS
Registered & Physical Address
Location : Madinat Sultan Qaboos
PO Box : 6
Town : Seeb 111
Country : Oman
Telephone : (968) 24605525 / 24695880 / 24596063
Facsimile : (968) 24698200 / 24504831
Email : bsetrdg@omantel.net.om / bse_spd@hotmail.com / amestrdg@omantel.net.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Seeb.
KEY PRINCIPALS
Name Position
·
Mohamed
Saif Salem Saif Al Mamari Managing
Director
·
Azza
Bin Saud Majed Al Mamari Director
·
Nutela Ahmed
Ali Al Shirawi Director
·
Raya
Salem Mohamed Al Barwani Director
·
N K Unni General
Manager
·
N Kumar Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 27th
June 1995
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/48972/0
Chamber Member No. : 2399
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s)
·
Mohamed
Saif Salem Saif Al Mamari
·
Azza
Bin Saud Majed Al Mamari
·
Nutela Ahmed
Ali Al Shirawi
·
Raya
Salem Mohamed Al Barwani
OPERATIONS
Activities: Engaged in the import and distribution of
electrical products including transformers, cables, switches and circuit
breakers.
Import
Countries: Europe and the
Far East.
Brand Names: AMULETS, GURU VALVES, PAUWELS, RAUSCHER
STOECKLIN and SYNAPSES.
Operating Trend: Steady
Subject has a
workforce of 15 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 2,985,000 RO 3,100,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr N K Unni, General
Manager
BANKERS
·
National
Bank of Oman Limited (SAOG)
PO Box: 574
Seeb 121
Tel: (968) 24623511 / 24623512
Fax: (968) 24623513
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 |
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US Dollar |
1 |
Rs.44.94 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.64.58 |
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.