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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
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Name : |
MODERN CO-OPERATION ENTERPRISES LLC |
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Registered Office : |
Mabila Industrial Area PO Box 378 Muscat 118 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
13.01.1998 |
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Com. Reg. No.: |
1/58180/5 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of scrap metals |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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Oman |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : MODERN CO-OPERATION ENTERPRISES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 13th January 1998
Commercial Registration Number : 1/58180/5
Chamber Membership Number : 7179
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 20
Activities : Distributors of scrap metals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Ahmed Salem Al Wadahi, Public Relations Manager
COMPANY NAME
MODERN CO-OPERATION ENTERPRISES LLC
ADDRESS
Location : Mabila
Industrial Area
PO Box : 378
Town : Muscat 118
Country : Oman
Telephone : (968) 24460292
Facsimile : (968) 24460257
Mobile : (968)
92920690
Email : modernscrap@gmail.com
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Muscat.
KEY PRINCIPALS
Name Position
· Hussain Bin Abdul
Reda Bin Ali Al Abdawani Managing
Director
· Shanhaz Bint
Abdulrahim Bin Kumda Director
· Fatima Abdul Jaber
Mohamed General
Manager
· Ahmed Salem Al
Wadahi Public
Relations Manager
· Mohamed Sanavar Sales
Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 13th
January 1998
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/58180/5
Chamber Member No. : 7179
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
· Hussain Bin Abdul
Reda Bin Ali Al Abdawani
· Shanhaz Bint
Abdulrahim Bin Kumda
AFFILIATED COMPANIES
· Dara Scrap Trading
Co LLC
PO Box: 6495
Sharjah
United Arab
Emirates
Tel: (971-6)
5335989
Fax: (971-6)
5337425
· Emirates Oxygen
Company LLC
PO Box: 4103
Sharjah
United Arab Emirates
Tel: (971-6) 5343099
Fax: (971-6) 5343745
OPERATIONS
Activities: Engaged in the import and distribution of scrap metals.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 20 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
1,840,000 RO
2,000,000
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 (SAOG)
Ruwi Branch
PO Box: 752
Muscat 112
Tel: (968)
24708894 / 24708519 / 24708562
Fax: (968)
24797278
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.33 |
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|
1 |
Rs.77.41 |
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Euro |
1 |
Rs.64.84 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.