MIRA INFORM
REPORT
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Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SINSILA INTERNATIONAL LLC |
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Registered Office : |
Al Wadi Al Kabir,
P O Box 744, Muscat 117 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.11.2009 |
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Com. Reg. No.: |
1/08013/6 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of building materials, hand and power tools |
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$ 150,000 |
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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 : SINSILA INTERNATIONAL LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 24th November 2009
Commercial Registration Number : 1/08013/6
Chamber Membership Number : 11438
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 6
Activities : Distributors of building materials, hand and power tools.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SINSILA INTERNATIONAL LLC
company ADDRESS
Registered & Physical Address
Location : Al Wadi Al Kabir
PO Box : 744
Town : Muscat 117
Country : Oman
Telephone : (968) 24813024
Facsimile : (968) 24817018
Mobile : (968) 99346183
Email : sinsila@omantel.net.om
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Muscat.
KEY PRINCIPALS
Name Nationality Position
·
Iqbal Ahmed Siddiqi Indian Managing Director
·
Mubashar Ahmed Siddiqi Indian Director
·
Siddiqa Bin Abdul Karim Ismail Al Mousawi Omani Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
November 2009
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/08013/6
Chamber Member No. : 11438
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s)
·
Iqbal Ahmed Siddiqi
·
Mubashar Ahmed Siddiqi
·
Siddiqa Bin Abdul Karim Ismail Al Mousawi
OPERATIONS
Activities: Engaged in the import and distribution of
building materials, hand and power tools.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year
Ending 31/12/10:
Total Sales RO
500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank Dhofar
Al Omani Al Fransi
Muttrah Business District
PO Box: 1507, Ruwi 112
Muscat
Tel: (968) 24790466
Fax: (968) 24797246
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.44.74 |
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UK Pound |
1 |
Rs.73.25 |
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Euro |
1 |
Rs.65.48 |
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.