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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
GODREJ & KHIMJI MIDDLE EAST LLC |
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Registered Office : |
Plot No. 222 & 223 Road 2A Sohar Industrial Estate PO Box 45 Sohar
327 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.04.1999 |
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Com. Reg. No.: |
1/61462/2 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacturers of steel furniture |
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No. of Employees : |
117 |
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) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : GODREJ & KHIMJI MIDDLE EAST LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st April 1999
Commercial Registration Number : 1/61462/2
Issued Capital : RO 1,180,000
Paid up Capital : RO 1,180,000
Total Workforce : 117
Activities : Manufacturers of steel furniture
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Joseph Keshore, Finance Manager
GODREJ & KHIMJI MIDDLE EAST LLC
Location : Plot No. 222
& 223
Street : Road 2A
Area : Sohar
Industrial Estate
PO Box : 45
Town : Sohar 327
Country : Oman
Telephone : (968) 26750484
/ 26750494
Facsimile : (968) 26750585
Email : godkhim@omantel.net.om
Subject operates from a large suite of offices and a factory that are rented
and located in the Industrial Area of Sohar.
Name Position
· Abraham George Managing
Director
· Joseph Keshore Finance Manager
· A Ponosami Factory
Manager
Date of
Establishment : 1st April
1999
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/61462/2
Issued Capital : RO 1,180,000
Paid up Capital : RO 1,180,000
· Khimji Ramdas LLC 51.0%
Khimji House
Muttrah High Street
Greater Muttrah
PO Box: 19
Muscat 100
Tel: (968) 24795901 / 24706893 / 24791988
Fax: (968) 24795988 / 24705122 / 24708819
· Godrej Singapore (Pvt) Ltd 24.5%
Singapore
· Godrej Malaysia SDNBH 24.5%
Malaysia
Activities: Engaged as operators of a steel furniture factory, providing solutions
for the office and warehouse sectors by manufacturing steel furniture, such as
filing cabinets, storage cabinets, cupboards, mobile compactors, locker cabinets, mobile pedestals, desks
and shelving units.
Import Countries: Europe and the Far East.
Brand Names: CROWN and GODREJ
Operating Trend: Steady
Subject has a workforce of 117 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
3,110,000 RO
3,550,000
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
Falaj Al Qabail
Sohar
Tel:
(968) 26795555
Fax:
(968) 26751678
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.31 |
|
|
1 |
Rs.79.04 |
|
Euro |
1 |
Rs.65.82 |
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 |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.