MIRA INFORM REPORT

Revised report

Report Date :

24.03.2012

IDENTIFICATION DETAILS

Name :	AL SHIKAIK INTERNATIONAL LLC

Registered Office :	Al Mawalah Central Market, P O Box 347, Seeb 111

Country :	Oman

Date of Incorporation :	10.02.2010

Com. Reg. No.:	1/08396/4

Legal Form :	Limited Liability Company

Line of Business :	Wholesalers and retailers of fruit and vegetables

No. of Employees :	06

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	US$ 50,000
Status :	Small Company
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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Oman

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : AL SHIKAIK INTERNATIONAL LLC

Country of Origin : Oman

Legal Form : Limited Liability Company – LLC

Registration Date : 10^th February 2010

Commercial Registration Number : 1/08396/4

Chamber Membership Number : 11837

Issued Capital : RO 100,000

Paid up Capital : RO 100,000

Total Workforce : 6

Activities : Wholesalers and retailers of fruit and vegetables.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 50,000

Person Interviewed : V M Abdullateed, Sales Manager

COMPANY NAME

AL SHIKAIK INTERNATIONAL LLC

company ADDRESS

Registered & Physical Address

Location : Al Mawalah Central Market

PO Box : 347

Town : Seeb 111

Country : Oman

Telephone : (968) 24550660

Facsimile : (968) 24550600

Mobile : (968) 92231393 / 92671135 / 99642781

Premises

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

KEY PRINCIPALS

Name Position

· Ahmed Bin Khalfan Bin Zaher Al Busaidi Managing Director

· Rahma Bint Ali Bin Zaher Al Busaidi Director

· V M Abdullateed Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 10^th February 2010

Legal Form : Limited Liability Company – LLC

Commercial Reg. No. : 1/08396/4

Chamber Member No. : 11837

Issued Capital : RO 100,000

Paid up Capital : RO 100,000

Name of Shareholder (s)

· Ahmed Bin Khalfan Bin Zaher Al Busaidi

· Rahma Bint Ali Bin Zaher Al Busaidi

OPERATIONS

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

Import Countries: Europe and the Far East.

Subject has a workforce of 6 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

· National Bank of Oman Limited (SAOG)

PO Box: 11

Seeb 111

Tel: (968) 24510007 / 24510543

Fax: (968) 24519806

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.50.91
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.