MIRA INFORM REPORT

 

 

Report Date :

09.01.2012

 

IDENTIFICATION DETAILS

 

Name :

BAR AL HAKMAN TRADING & CONTRACTING EST

 

 

Registered Office :

Souq Al Mawalah, Shop No. 7, 639, Muscat 111

 

 

Country :

Oman

 

 

Date of Incorporation :

30.12.1998

 

 

Com. Reg. No.:

1/28363/4

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesale and retail of fruit and vegetables and passenger land transportation services.

 

 

No. of Employees :

25

 

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)

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : BAR AL HAKMAN TRADING & CONTRACTING EST

Country of Origin                                    : Oman

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 30th December 1998

Commercial Registration Number            : 1/28363/4

Chamber Membership Number                : 3068

Invested Capital                                     : RO 70,000

Total Workforce                                     : 25

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Mohamed Ali Bin Rashid Hamd Al Hakmani, Assistant General Manager

 

COMPANY NAME

 

BAR AL HAKMAN TRADING & CONTRACTING EST

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Souq Al Mawalah, Shop No. 7

 

PO Box             : 639

 

Town                 : Muscat 111

Country             : Oman

 

Mobile               : (968) 99763886 / 99311310

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Wadi Oudi                                                                                        Sales Office

Muscat

Tel: (968) 24566016

Fax: (968) 24539578

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ali Bin Rashid Hamd Al Hakmani                                                        Proprietor & General Manager

 

·       Mohamed Ali Bin Rashid Hamd Al Hakmani                                        Assistant General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30th December 1998

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 1/28363/4

 

Chamber Member No. : 3068

 

Invested Capital           : RO 70,000

 

Mr Ali Bin Rashid Hamd Al Hakmani is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·         General Trading Division

 

Engaged in the wholesale and retail of fruit and vegetables.

 

·         Transport Division Division

 

Providers of a passenger land transportation services.

 

Import Countries: Europe and the Far East

 

Subject has a workforce of 25 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

 

·       Bank of Muscat

     Al Burj Street

     Greater Muttrah

     PO Box: 6326, Ruwi

     Muscat

     Tel: (968) 24701769

     Fax: (968) 24796488

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000:

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the business is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.06

UK Pound

1

Rs.78.08

Euro

1

Rs.65.15

 

 

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.