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Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
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Name : |
PALMERA INTERNATIONAL LLC |
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Registered Office : |
Villa No. 98 18 November Street Ghubrah North, Ghubrah |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.06.2009 |
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Com. Reg. No.: |
1/07067/0 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject operates several divisions like Distribution
Division, Stone Carving & Decoration Division |
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No. of Employees : |
35 |
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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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : PALMERA INTERNATIONAL LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 3rd June 2009
Commercial Registration Number : 1/07067/0
Membership Number : 10622
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 35
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Milad Murad, Commercial Manager
PALMERA INTERNATIONAL LLC
Building : Villa No. 98
Street : 18 November
Street
Area : Ghubrah
North, Ghubrah 130
PO Box : 916
Town : Muscat
Country : Oman
Telephone : (968) 24498580
Facsimile : (968) 24497780
Mobile : (968)
95496761
Email : info@palmeraintl.com
/ info@palmerainternational.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Muscat.
Name Position
· Abdullah Salem Al Dabari Managing
Director
· Kamal Abdullah Salem Al Dabari Director
· Salah Abdullah Salem Al Dabari Director
· Milad Murad Commercial
Manager
Date of
Establishment : 3rd
June 2009
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/07067/0
Membership No. : 10622
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
· Abdullah Salem Al Dabari
· Kamal Abdullah Salem Al Dabari
· Salah Abdullah Salem Al Dabari
· Technique LLC
PO Box: 89
Muscat 111
Tel: (968) 24491244
Fax: (968) 24491478
Activities: Subject operations are performed through the following divisions:
· Distribution Division
Engaged in the import and distribution of
building materials, tiles, marble, timber and flooring products.
· Stone Carving
& Decoration Division
Engaged in the design, delivery and
installation of carved and graved stone as well as glass reinforced concrete.
Import Countries: Europe and the Far East.
Subject has a workforce of 35 employees.
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
725,000 RO
860,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of Muscat
Al Burj
Street
Greater
Muttrah
PO Box:
6326, Ruwi
Muscat
Tel:
(968) 24701769
Fax:
(968) 24796488
·
Oman Arab Bank
Muttrah Business District
PO Box: 2010, Ruwi 112
Muscat
Tel: (968) 24700161 / 24706265 / 24706267
Fax: (968) 24797736
Acc No.
312812783550
No complaints regarding subject’s payments have been reported.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.15 |
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|
1 |
Rs.86.30 |
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Euro |
1 |
Rs.67.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.