MIRA INFORM REPORT

 

 

Report Date :

22.06.2012

 

IDENTIFICATION DETAILS

 

Name :

SUHOL AL FAYHA TRADING LLC

 

 

Registered Office :

Al Mawaleh Market, P O Box 958, Muscat 117 898 & 3347, Seeb 111, Muscat

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

14.05.1984

 

 

Com. Reg. No.:

1/65387/3

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale and retail of fruit and vegetables and the provision of catering  services

 

 

No. of Employees :

230

 

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                                     : SUHOL AL FAYHA TRADING LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Start Date                                             : 14th May 1984

Registration Date                                   : 5th September 2000

Commercial Registration Number            : 1/65387/3

Chamber Membership Number                : 2649

Issued Capital                                        : RO 250,000

Paid up Capital                                      : RO 250,000

Total Workforce                                     : 230

Activities                                               : Wholesale and retail of fruit and vegetables and the provision of

catering  services.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Shaja Khan, Financial Controller

 

 

 

COMPANY NAME

 

SUHOL AL FAYHA TRADING LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Al Mawaleh Market

PO Box            : 958, Muscat 117

                                      898 & 3347, Seeb 111

Town                : Muscat

Country             : Sultanate of Oman

Telephone         : (968) 24546458 / 24815988 / 24810796

Facsimile          : (968) 24537468 / 24546510

Mobile              : (968) 99319017, 99365538, 99883698 / 99714797

Email                : sftfruit@omantel.net.om

 

Premises

Subject operates from a large suite of offices and a showroom that are rented and located in the Central Business

Area of Muscat.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Al Quz Area                                                                                      Showroom premises

     Muscat

     Tel: (968) 99883698

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Abdul Wahid Assan Kanju                                Indian                         Managing Director

 

·       Nawas Mohamed Kanju                                    Indian                         Director

 

·       Zaher Said Zahran Al Harrasi                             Omani                        Director

    

·       Harith Ali Kanju                                                Indian                         Commercial Manager

 

·       Shaja Khan                                                          -                            Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 14th May 1984, however it was registered on

  5th September 2000

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/65387/3

 

Chamber Member No. : 2649

 

Issued Capital              : RO 250,000

 

Paid up Capital            : RO 250,000

 

Name of Shareholder (s)

 

·       Abdul Wahid Assan Kanju

 

·       Nawas Mohamed Kanju

 

·       Zaher Said Zahran Al Harrasi

 

 

AFFILIATED COMPANIES

 

·       Suhol Al Fayha Foodstuff Trading LLC

Dubai

United Arab Emirates

Tel: (971-4) 3204284

Fax: (971-4) 3204285

 

·       Anhar Al Fayha Trading LLC

Muscat

CR No. 1/04809/6

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of fruit and vegetables and the provision of catering services.

 

Import Countries: Europe and GCC countries

 

Operating Trend: Steady

 

Subject has a workforce of approximately 230 employees.

 

 

FINANCIAL DATA

 

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 20,000,000                          RO 21,350,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures were confirmed by Shaja Khan, Financial Controller

 

 

BANKERS

 

·       National Bank of Oman Limited (SAOG)

PO Box: 574

Seeb 121

Tel: (968) 24623511 / 24623512

     Fax: (968) 24623513

 

·       Oman Arab Bank

     Head Office

     Muttrah Business District

     PO Box: 2010, Ruwi 112

     Muscat

     Tel: (968) 24700161 / 24706265 / 24706267

     Fax: (968) 24797736

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.88.45

Euro

1

Rs.71.52

 

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.