MIRA INFORM REPORT

 

 

Report Date :           

29.03.2011

 

IDENTIFICATION DETAILS

 

Name :

AL MULADDHA TRADING CO. 

 

 

Registered Office :

Al Muladdha Trading Building, Corniche Street, Behind National Bank of Oman, Muttrah Souq, P.O. Box 107 Muttrah 114, Muscat

 

 

Country :

Oman

 

 

Date of Incorporation :

11.10.2003

 

 

Com. Reg. No.:

1737619

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers, retailers and distributors of foodstuff including spices such as cardamom and other herbs.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

RO 10,000

 

 

Status :

Small Company 

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Oman

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

Al Muladdha Trading Co.

 

 

company ADDRESS

 

Building :           Al Muladdha Trading Building

Street   :           Corniche Street

Area     :           Behind National Bank of Oman, Muttrah Souq

P.O. Box :         107 Muttrah 114

Town     :           Muscat

Country  :          Oman, Sultanate of

Telephone:        (968) 2471 4271 / Mobile (968) 9931 9280

Fax      :            (968) 2471 4371

 

Also Known As : Al Muladdha For Trading

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Shailesh Toprani                    Managing Director

 

2. A. Raki (Mrs.)                        Executive Secretary

 

Total Employees : 7

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers

or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts,

however in view of the lack of financial information we recommend

international suppliers exercise a degree of caution.

 

Opinion on maximum credit : RO 10,000 (higher amounts may be considered with full fiscal disclosure)

 

Trade risk assessment : Normal

 

 

PRINCIPAL BANKERS

 

NAME     :         BANK MUSCAT (SOAG)

Branch   :          Main Branch

Street   :           Al Burj Street, Muttrah Commercial District 1073

PO Box   :         134

Town     :           Ruwi 112

Telephone:        (968) 2470 3044 / 2478 8638 / 2470 8653

Fax      :            (968) 2478 9886 / 2478 8638

 

 

FINANCIAL INFORMATION

 

Private companies in Oman are not required to publish or disclose

balance sheets. Balance sheets are not available from other sources,

and the subject interviewed declined to give any financial

information, which the company regards as strictly confidential.

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started :                                        11 October 2003

 

C.R. No. :                                              1737619 (expiry date : 10 October 2013)

 

Chamber of Commerce Membership No. : 4679 (issued on 18 October 2003,

expiry date : 17 October 2011).

 

Authorised Capital :                                RO 150,000

 

Paid up Capital :                                    RO 150,000

 

Limited Liability Company with the following shareholders :

 

1. Shailesh Toprani                          

  (Indian national)

 

2. Bahavan Shailesh Toprani

  (son of the above)

 

3. Vara Toprani

  (Indian national)

 

4. Khruti Toprani

  (Indian national)

 

5. Mohammed Saif Khalfan Al Hanaei

  (Omani national)

 

The exact shareholding percentage was not disclosed.

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers, retailers and distributors of foodstuff including spices such as cardamom and other herbs.

 

Imports from Asia, mainly from India and Thailand.

 

The Company does not export, all sales are domestic.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented offices premises and a showroom with storage facilities

located at the heading address.

 

 

SPECIAL NOTE

 

Interviewed: A. Raki (Executive Secretary). Subject's senior official

(Managing Director) is currently away on a prolonged holiday, in his

absence staff is not authorized to divulge financial information.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.78

UK Pound

1

Rs.71.64

Euro

1

Rs.62.96

 

 

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.