MIRA INFORM REPORT

 

 

Report Date :

08.12.2012

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL TOURISM RESTAURANTS LLC (AMERICANA)

 

 

Registered Office :

KFC Building, 4th, 5th and 6th Floors Al Khuwair No. 33 3629 Muscat

 

 

Country :

Oman

 

 

Date of Incorporation :

09.01.1986

 

 

Reg. No.:

1/24202/4

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Operators of restaurants and fast food outlets

 

 

No. of Employees :

300

 

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

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Oman

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

oman - ECONOMIC OVERVIEW

 

Oman is a middle-income economy that is heavily dependent on dwindling oil resources. Because of declining reserves and a rapidly growing labor force, Muscat has actively pursued a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020 and creating more jobs to employ the rising numbers of Omanis entering the workforce. Tourism and gas-based industries are key components of the government's diversification strategy. By using enhanced oil recovery techniques, Oman succeeded in increasing oil production, giving the country more time to diversify, and the increase in global oil prices through 2011 provided the government greater financial resources to invest in non-oil sectors.

 

Source : CIA

 

 

SUMMARY

 

Company Name                                     : INTERNATIONAL TOURISM RESTAURANTS LLC (AMERICANA)

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 9th January 1986

Commercial Registration Number            : 1/24202/4

Chamber Membership Number                : 1436/1

Issued Capital                                        : RO 200,000

Paid up Capital                                      : RO 200,000

Total Workforce                                     : 300

Activities                                               : Operators of restaurants and fast food outlets

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

INTERNATIONAL TOURISM RESTAURANTS LLC (AMERICANA)

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : KFC Building, 4th, 5th and 6th Floors

Area                 : Al Khuwair No. 33

PO Box             : 3629

Town                 : Muscat

Country             : Oman

 

Telephone         : (968) 24565558 / 24477700 / 24564779

Facsimile          : (968) 24477701 / 24477703

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Muscat.

 

 

KEY PRINCIPALS

 

            Name                                                               Nationality                   Position

 

Mohamed Reda El Sayed Diab                                        Omani                           Managing Director

 

Nasser Mohamed Abdul Mohsen Al Kharafi                      Kuwaiti                          Director

 

Abdullah Mahmoud Abdullah Rizq                                   Egyptian                       Director

 

Mahmoud Fakhi Hassan Shalaby                                    Egyptian                       Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 9th January 1986

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/24202/4

 

Chamber Member No. : 1436/1

 

Issued Capital              : RO 200,000

 

Paid up Capital            : RO 200,000

 

Name of Shareholder (s)

 

Mohamed Reda El Sayed Diab

 

Kuwait Food Co SAK (Americana)

Plot No. 198A

Canada Dry Street

Shuwaikh Industrial Area

PO Box: 5087

Safat 13051

Kuwait

Tel: (965) 24815900 / 24735476 / 24749543 / 24347938

Fax: (965) 24815914 / 24338464 / 24846925 / 24340032

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Americana Group of companies, which consists of the following concerns:

 

Qatar Foodstuff Co

PO Box: 4548

Doha

Qatar

Tel: (974) 44423102

Fax: (974) 44425982

 

Kuwait Food Co (Americana)      

PO Box: 6844

Sharjah

United Arab Emirates

Tel: (971-6) 5593614

Fax: (971-6) 5594302

 

Gulf Food Industries Co (California Garden)

Sheikh Zayed Road

Jebel Ali Free Zone

PO Box: 17100

Dubai

United Arab Emirates

Tel: (971-4) 8815633

Fax: (971-4) 8815544

 

Al Ahlia Restaurant Co

PO Box: 8030

Jeddah 21482

Saudi Arabia

Tel: (966-2) 6520073

Fax: (966-2) 6520148

 

Bahrain & Kuwait Restaurant Co

PO Box: 20464

Manama

Bahrain

Tel: (973-17) 262998

Fax: (973-17) 272883

 

Cairo Poultry Co

23 Mourad Street

Giza

Cairo

Egypt

Tel: (20-2) 35730859 / 35715905

Fax: (20-2) 35738548

 

Gulf Mineral Water & Processing Industries Co Ltd

PO Box: 929

Ajman

United Arab Emirates

Tel: (971-6) 7421800

Fax: (971-6) 7446394

 

Tourist Projects & International Restaurants Co Ltd

PO Box: 950584

Amman 11195

Jordan

Tel: (962-6) 5693759

Fax: (962-6) 5681110

 

Arab Gulf Co for Food & Supermarkets

Fawamiah

PO Box: 23828

Safat

Kuwait

Tel: (965) 24340048

Fax: (965) 24338933

 

International Fashion Co

Souk El Souf

PO Box: 11649

Jeddah 21463

Saudi Arabia

Tel: (966-2) 6613108

 

Egyptian Co for International Touristic Projects

47 El Batal Ahmed Abdelaziz Street

Mohandessin

Cairo

Egypt

Tel: (20-2) 33469719

Fax: (20-2) 33011578

 

Kuwait Food Co

Cairo

Egypt

 

Al Americana International Company (Safeway)

Kuwait

 

Al Ahlia National Food Industries Co

Saudi Arabia

 

International Cosmetics Co

Saudi Arabia

 

United Food Co

Saudi Arabia

 

Americana International Company

United Arab Emirates

 

International Touristic Projects Lebanese Co

Lebanon

 

Gulf and Arab World Restaurants Co

Bahrain

 

The Caspian International Restaurants Co

Kazakhstan

 

Americana Group for Food and Touristic Projects

Egypt

 

International Co for Agricultural Development       

Egypt

 

Al Mohandas National Co

Egypt

 

Egyptian Canning Co

Egypt

 

Americana Egypt for Cold Storage

Egypt

 

Americana Marketing and Distributing Co

Egypt

 

Greenland Group for Food Industries Co

Egypt

 

International Co for Agriculture Production & Processing

Egypt

 

Egyptian Company for Starch and Glucose

Egypt

 

Senyorita Group for Food Industries Co

Egypt

 

Development Agriculture Co

Egypt

 

Al Hashimya Co

Egypt

 

International for Food Industry Co

Egypt

 

Americana for Land Reclamation Cultivation Co

Egypt   

 

 

OPERATIONS

 

Activities: Engaged as operators of restaurants and fast food outlets.

 

Import Countries: Europe and GCC countries.

 

Subject has a workforce of 300 employees.

 

 

FINANCIAL DATA

 

Companies registered in Oman are not legally required to make their accounts public and no financial information was released by the company or submitted by outside 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

 

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.

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.20

UK Pound

1

Rs.86.99

Euro

1

Rs.70.22

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.