MIRA
INFORM REPORT
|
Report Date : |
25.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
HARIDAS NENSEY & PARTNERS CO LLC |
|
|
|
|
Registered Office : |
Building No. 2274, 1st Floor Way No. 3729 Ruwi 113 PO Box
152 Muscat |
|
|
|
|
Country : |
Sultanate of Oman |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
01.09.1975 |
|
|
|
|
Com. Reg. No.: |
1/0137/5, Muscat |
|
|
|
|
Legal Form : |
Limited Liability Company – LLC |
|
|
|
|
Line of Business : |
Operators of two supermarkets |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 200,000 |
|
Status : |
Satisfactory |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : HARIDAS NENSEY & PARTNERS CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st September 1975
Commercial Registration Number : 1/0137/5, Muscat
Chamber Membership Number : 2947
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 30
Activities : Operators of two supermarkets.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Mahesh Haridas Nensey, Managing Director
COMPANY NAME
HARIDAS NENSEY & PARTNERS CO LLC
ADDRESS
Registered & Physical Address
Location :
Building No. 2274, 1st Floor
Street :
Way No. 3729
Area :
Ruwi 113
PO Box :
152
Town :
Muscat
Country :
Sultanate of Oman
Telephone :
(968) 24750784
Facsimile :
(968) 24703642
Mobile : (968) 99347607
Email :
nensey@omantel.net.om
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Muscat.
Branch Offices
Location Description
· Salalah Supermarket
Tel: (968) 23291825
KEY PRINCIPALS
Name Nationality Position
· Mahesh Haridas Nensey Indian Managing Director
· Kirtikumar Haridas Nensey Indian Director
· Simiakurma Haridas
Nensey Indian Director
· Jaiger Mahes Haridas Nensey Indian Director
· Vimal Haridas Nensey Indian Director
· Sheikh Saud Bin Hamad Issa Al Tai Omani Director
LEGAL FORM & OWNERS
Date of
Establishment : 1st
September 1975
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/0137/5, Muscat
Chamber Member No. : 2947
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
· Mahesh Haridas Nensey
· Kirtikumar Haridas Nensey
· Simiakurma Haridas
Nensey
· Jaiger Mahes Haridas Nensey
· Vimal Haridas Nensey
· Sheikh Saud Bin Hamad Issa Al Tai
OPERATIONS
Activities: Engaged as operators of two supermarkets, one in Muscat and the other
in Salalah.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 30 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
2,400,000 RO
2,850,000
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
Ruwi Branch
PO Box: 3752
Muscat
Tel: (968)
24708898
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1975, subject acts as operators of two supermarkets, one
in Muscat and the other in Salalah.
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 and the
above credit figure is deemed to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.87 |
|
|
1 |
Rs.79.73 |
|
Euro |
1 |
Rs.69.53 |
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 |
|
-- |
NB |
New Business |
-- |
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.