MIRA INFORM REPORT

 

 

Report Date :

26.07.2012

 

IDENTIFICATION DETAILS

 

Name :

TECHNOCRATS ENTERPRISES

 

 

Registered Office :

City Centre, Souq Muscat, P O Box 1184, Nizwa 611, Muscat

 

 

Country :

Oman

 

 

Date of Incorporation :

27.09.2004

 

 

Com. Reg. No.:

1/76840/1

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Provision of IT solutions, petroleum products, bitumen, diesel and project financing

 

 

No. of Employees :

12

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                         : TECHNOCRATS ENTERPRISES

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 27th September 2004

Commercial Registration Number            : 1/76840/1

Issued Capital                                        : RO 1,000,000

Paid up Capital                                      : RO 1,000,000

Total Workforce                                     : 12

Activities                                               : Provision of IT solutions, petroleum products, bitumen, diesel and

project financing

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Dr Bader Issa Samran Ambu Saidi, Managing Director

 

 

COMPANY NAME

 

TECHNOCRATS ENTERPRISES

 

 

company ADDRESS

 

Registered & Physical Address

Location            : City Centre, Souq Muscat

PO Box             : 1184, Nizwa 611

Town                 : Muscat

Country             : Oman

Telephone         : (968) 25414585

Facsimile          : (968) 25414585

Mobile               : (968) 95310799

Email                : technocrat.om@gmail.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Dr Bader Issa Samran Ambu Saidi                                                      Managing Director

·       Ahmed Bader Issa Samran Ambu Saidi                                               Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th September 2004

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/76840/1

 

Issued Capital              : RO 1,000,000

 

Paid up Capital            : RO 1,000,000

 

Name of Shareholder (s)                                             

·       Dr Bader Issa Samran Ambu Saidi                                                                 

·       Ahmed Bader Issa Samran Ambu Saidi

 

 

AFFILIATED COMPANIES

 

·       Omniyat Investment

Muscat

 

 

OPERATIONS

 

Activities: Engaged in the provision of IT solutions, petroleum products, bitumen, diesel and project financing.

 

Subject has a workforce of 12 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

 

·       Commercial Bank of Oman SAOG

Muttrah Business District

PO Box: 1696, Ruwi 112

Muscat

Tel: (968) 24793225 / 24793226 / 24793228

Fax: (968) 24793229

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear.

.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.38

UK Pound

1

Rs.87.44

Euro

1

Rs.68.05

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.