MIRA INFORM
REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Name : |
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Formerly Known As : |
SHATI AL MAGHSAR TRADING LLC |
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Registered Office : |
Al Qubrah Area |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
27.04.2008 |
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Com. Reg. No.: |
1/04497/6 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distribution and transportation of oilfield and gas equipment and supplies. |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SUMMARY
Company Name :
Also Known As : SHATI AL MAGHSAR TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company – LLC
Registration Date : 27th April 2008
Commercial Registration Number : 1/04497/6
Chamber Membership Number : 8694/1
Issued Capital : RO 240,000
Paid up Capital : RO 240,000
Total Workforce : 13
Activities : Distribution and transportation of oilfield and gas equipment and supplies.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ALSO KNOWN AS: SHATI AL MAGHSAR TRADING LLC
ADDRESS
Registered & Physical Address
Location : Al Qubrah
Area
PO Box : 3069
Town :
Country :
Telephone : (968) 26869038
Facsimile : (968) 26869038
Email : saifoohoo@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Muscat.
Branch Office (s)
Location Description
· Rusayl Warehouse
premises
KEY PRINCIPALS
Name Position
· Saif Bin Hamad Bin Saif Al Garabi Managing
Director
· Ali Bin Saeed Bin Ali Al Amri Director
LEGAL FORM & OWNERS
Date of
Establishment : 27th
April 2008
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/04497/6
Chamber Member No. : 8694/1
Issued Capital : RO 240,000
Paid up Capital : RO 240,000
Name of Shareholder (s) Percentage
· Saif Bin Hamad Bin Saif Al Garabi 50%
· Ali Bin Saeed Bin Ali Al Amri 50%
OPERATIONS
Activities: Engaged in the import, distribution and transportation of oilfield and
gas equipment and supplies.
Import Countries:
Clients:
· Ceva Logistics
· The Oman
Construction Co LLC (TOCO)
· Truck
· The Industrial
& Trading Co Ltd (SICO)
Operating Trend: Steady
Subject has a workforce of 13 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
1,300,000 RO
1,580,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
· Commercial Bank of
PO Box:
4696
Tel:
(968) 24793220
Fax:
(968) 24793229
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.
Please note that the original investigation was unsuccessful because the
company is listed at the local registry office under the name of “Shati Al
Maghsar Trading LLC”, even though its name is “Al Maghsar Beach Trading LLC”.
Furthermore, no contact numbers were supplied with the original enquiry.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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.