MIRA INFORM
REPORT
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Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AL RIDA ENTERPRISES LLC |
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Registered Office : |
Exhibition Road,
P O Box 103, Muscat 113 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.03.2007 |
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Com. Reg. No.: |
1/01513/6 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of general foodstuff products, stationery items, construction materials, tiles and marble |
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 : |
Usually Correct |
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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
|
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 |
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SUMMARY
Company Name : AL RIDA ENTERPRISES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 17th March 2007
Commercial Registration Number : 1/01513/6
Chamber Membership Number : 1770
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 25
Activities : Distributors of general foodstuff products, stationery items, construction
materials, tiles and marble.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Rajesh Pande, Finance Manager
COMPANY NAME
AL RIDA ENTERPRISES LLC
company ADDRESS
Registered & Physical Address
Location : Exhibition Road
PO Box : 103
Town : Muscat 113
Country : Oman
Telephone : (968) 24590140
Facsimile : (968) 24590212
Mobile : (968) 99365004 / 99228767
Email : rejeshp@alturki.com
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Central Business Area of Muscat.
KEY PRINCIPALS
Name Position
·
Dhiren
Chaitanya Gholapsi Managing
Director
·
Mohit
Chaitanya Gholapsi Director
·
Rajesh
Pande Finance
Manager
·
Abu
Baker Al Amin Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
March 2007
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/01513/6
Chamber Member No. : 1770
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Name of Shareholder
(s)
·
Dhiren
Chaitanya Gholapsi
·
Mohit
Chaitanya Gholapsi
AFFILIATED COMPANIES
·
Al
Turki Enterprises LLC
PO Box: 2803
Ruwi 112
Muscat
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff products, stationery items, construction
materials, tiles and marble.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 25 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 750,000 RO 910,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of Oman Limited (SAOG)
Muttrah Business District
PO Box: 751, Ruwi 112
Muscat
Tel: (968) 24708894 / 24708630 / 24708684
Fax: (968) 24707781 / 24703972
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 |
|
US Dollar |
1 |
Rs.45.10 |
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UK Pound |
1 |
Rs.71.88 |
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Euro |
1 |
Rs.63.75 |
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 |
|
<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.