MIRA INFORM REPORT

 

 

 

Report Date :

13.04.2012

 

IDENTIFICATION DETAILS

 

Name :

ABU SAYEED AL KATHERY TRADING AND CONTRACTING CO

 

 

Registered Office :

Thumait City, 11, Salalah 222

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

28.10.2006

 

 

Com. Reg. No.:

1/00728/1

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Distributors of automotive spare parts, engines parts and cylinder liners

 

 

No. of Employees :

4

 

 

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$ 150,000

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                                     : ABU SAYEED AL KATHERY TRADING AND CONTRACTING CO

Country of Origin                                    : Oman

Legal Form                                            : General Partnership

Registration Date                                   : 28th October 2006

Commercial Registration Number            : 1/00728/1

Chamber Membership Number                : 1005

Partners Capital                                     : RO 55,000

Total Workforce                                     : 4

Activities                                               : Distributors of automotive spare parts, engines parts and cylinder liners

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

 

 

COMPANY NAME

 

ABU SAYEED AL KATHERY TRADING AND CONTRACTING CO

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Thumait City

 

PO Box             : 11

 

Town                 : Salalah 222

Country             : Oman

 

Telephone         : (968) 22010281

Facsimile          : (968) 22010281

Mobile               : (968) 96900200 / 92257135

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Salalah.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       PO Box: 590                                                                                     Office premises

Al Hamariya Area

Muscat 117

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Salem Sayeed Ali Al Kathery                                                             Managing Partner

 

·       Saeed Salem Sayeed Ali Al Kathery                                                   Partner

 

·       Siraj Hussain Al Jamdar                                                                     General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28th October 2006

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 1/00728/1

 

Chamber Member No. : 1005

 

Partners Capital           : RO 55,000

 

Name of Partners

 

·       Salem Sayeed Ali Al Kathery

 

·       Saeed Salem Sayeed Ali Al Kathery

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of automotive spare parts, engines parts and cylinder liners.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 4 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                RO 1,075,000                            RO 1,210,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Oman International Bank

Thumait City

Tel: (968) 23279290

Fax: (968) 23279190

Acc No. 5007340401

 

 

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 business is considered to be a fair trade risk.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.44

UK Pound

1

Rs.81.96

Euro

1

Rs.67.60

 

 

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%)

 

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.