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Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL POLY INDUSTRIES CO LLC |
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Registered Office : |
Road No. 21, Plot No. 2102, Rusayl Industrial City, P O Box 184,
Rusayl 124 775, Wadi Kabir 117, Rusayl |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.11.2000 |
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Com. Reg. No.: |
1/65805/0 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer of mattresses, cushions and foam products |
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No. of Employees : |
210 |
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
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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 : INTERNATIONAL POLY INDUSTRIES CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 6th November 2000
Commercial Registration Number : 1/65805/0
Chamber Membership Number : 3737
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 210
Activities : Manufacture of mattresses, cushions and foam products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Josi Shivaram, Financial Controller
INTERNATIONAL POLY
INDUSTRIES CO LLC
Registered &
Physical Address
Location : Road No. 21,
Plot No. 2102
Area : Rusayl
Industrial City
PO Box : 184, Rusayl 124
775, Wadi Kabir 117
Town : Rusayl
Country : Sultanate of
Oman
Telephone : (968) 24449211
/ 24449212 / 24449214
Facsimile : (968) 24449213
Email : sleepeze@omantel.net.om
Premises
Subject operates from
a large suite of offices and a factory that are owned and located in the
Industrial Area of Rusayl.
Name Nationality Position
·
Jamno
Perumal Kalawani Omani Managing
Director
·
Abdullah
Al Mahrouqi
Omani Director
·
Vishwanthan
Satya Murthy Indian Chief
Executive Officer
·
Joseph
Thomas - Finance
Manager
·
Josi Shivaram - Financial
Controller
·
Jay
Varghese - Commercial
Manager
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Sham
Gadani - Sales
Manager
·
T J John - Factory
Manager
Date of Establishment : 6th
November 2000
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/65805/0
Chamber Member No. : 3737
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s) Percentage
·
Abdullah
Al Mahrouqi 51%
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Jamno
Perumal Kalawani 49%
·
Safeer
Gulf Trading LLC
Ras Al Khaimah
United Arab Emirates
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Safeer Hypermarket
Muscat
Activities: Engaged in the manufacture of mattresses,
cushions and foam products.
Import
Countries: Europe and the
Far East
Brand Names: SLEEPEZE
Operating Trend: Steady
Subject has a
workforce of approximately 210 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 4,200,000 RO 4,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Oman Limited (SAOG)
Muttrah Business District
PO Box: 751, Ruwi 112
Muscat
Tel: (968) 24708894 / 24708630 / 24708684
Fax: (968) 24707781 / 24703972
No complaints
regarding subject’s payments have been reported.
Amount overdue 0 0
Payment terms 120
days 180
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No Complaints
Currency Pounds
Sterling Euros
Established in
2000, subject is involved in the manufacture of mattresses and cushions under
the brand name Sleepeze.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.52 |
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UK Pound |
1 |
Rs.85.29 |
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Euro |
1 |
Rs.68.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.