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Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
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Name : |
AL WARDHA
FOOTWEAR LEATHER PRODUCTS COMPANY LLC |
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Registered Office : |
Road No. 8, Rusayl
Industrial Estate 4, Rusayl 124 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.02.1989 |
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Com. Reg. No.: |
1/08700/2 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacturers of footwear and
leather products. |
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No. of Employees : |
55 |
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 – September 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 : AL WARDHA FOOTWEAR LEATHER
PRODUCTS COMPANY LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 1st
February 1989
Commercial
Registration Number : 1/08700/2
Chamber Membership
Number : 233
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
Total Workforce : 55
Activities :
Manufacturers of footwear and leather products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : V S
Mehta, Finance Manager
AL WARDHA FOOTWEAR
LEATHER PRODUCTS COMPANY LLC
Street : Road No. 8
Area : Rusayl Industrial Estate
PO Box : 4
Town : Rusayl 124
Country : Oman
Telephone : (968) 24446038 / 24446567
Facsimile : (968) 24446267
Email : alwardha@omzest.com
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Rusayl.
Name Position
·
Omar Abdulmoniem Al Zawai Managing Director
·
Walid Omar Abdulmoniem Al Zawai Director
·
Reem Omar Abdulmoniem Al Zawai Director
·
G S
Bedi General
Manager
·
V S Mehta Finance
Manager
·
M P Rao Sales
Manager
·
Nando Kumar Production
Manager
Date of Establishment : 1st
February 1989
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/08700/2
Chamber Member No. : 233
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
·
Omar Abdulmoniem Al Zawai
·
Walid Omar Abdulmoniem Al Zawai
·
Reem Omar Abdulmoniem Al Zawai
Subject belongs to the Omzest Group of Companies, which contains the
following concerns:
·
Al
Khuwair Development & Services Co SAOG
·
Modern
Exchange LLC
·
Muscat
Finance Co Ltd (SAOG)
·
Muscat
Insurance Company SAOC
·
Muscat
Life Assurance Company SAOC
·
Muscat
National Holding Company SAOG
·
Oman
International Bank SAOG
·
Oman
Securities' Portfolio Co SAOG
·
Omzest
Investment Division
·
Personal
Investments
·
Personal
Real Estate Department
·
United
Business & Investment Co
·
Wilayat
Holding Co
·
Wipro
Holding Co
·
Mideast
Integrated Drilling & Well Services
·
National
Telephone Services Co LLC
·
Qurum
Contractors LLC
·
Al Amal
Industries Co (SAOG)
·
Omar
Zawawi Establishment LLC (OMZEST)
·
Amiantit
Oman SAOC
·
Areej
Vegetable Oils & Derivatives SAOG
·
Bausher
Chemicals SAOG
·
Decorative
Glass Manufacturing LLC
·
Jyoti
Sohar Switchgear LLC
·
Keemya
Oman SAOG
·
Modern
Poultry Farms Company SAOG
·
National
Heaters Industries Co LLC
·
Oman
Agriculture Development Company SAOG
·
Oman
Fiber Optic Co SAOG
·
Oman
Textile Mills Co SAOG
·
Oman
Water Pumps Mfg Co SAOG
·
Oman
Water Treatment
·
Omani
Marble Company LLC
·
Protein
Products International LLC
·
Waleed
Associates LLC
·
Riyam
Investment & Trading Est LLC
·
Reem
Batteries & Power Appliances Co SAOC
·
The
National Detergent Company SAOG
·
Advertising
International Company SAOC
·
Al-Rimah
Medical Centre LLC
·
Circle
Freight International (Oman)
·
Gulf of
Oman Services
·
Gulf
Seagull Co
·
Impact
Films LLC
·
Maersk
Shipping Services & Co LLC
·
Mezoon
Travel LLC
·
Muscat
Contract Cleaning & Maintenance LLC
·
Riyam
Computer Services LLC
·
Waleed
Catering & Services Co LLC (WACASCO)
·
YBA
Kanoo (Oman)
·
Areej
Business Systems Co LLC
·
Bishara
Establishment LLC
·
General
Electronics & Trading Co
·
Medical
& Scientific Supplies LLC
·
Muscat
Cold Stores LLC
·
National
Oilfield Supply Co LLC
·
Office
Supplies Co LLC
·
Oman
Mechanical Services Co Ltd LLC (OMSC)
·
Oman
Services & Supply Organisation
·
Omzest Beijing
·
Omzest
Business Division
·
Reem
Scientific & Energy Technologies & Trade LLC
·
Riyam
Engineering & Services LLC
·
Riyam
Marketing & Services Co LLC
·
Waleed
Communications Co (WACOM) Ltd
·
Waleed
Pharmacy LLC
·
Waljat
Modern Technology
·
Zawawi
Business Machines LLC
·
Sadolin Paints (Oman) Ltd (Spol)
Activities: Engaged in the manufacture of footwear and
leather products.
Import
Countries: India
Export
Countries: Saudi Arabia,
Bahrain and the United Arab Emirates.
Brands: AL WARDHA, ZABAD, AL SAFAR, ASAD, DAHAB and
IBN AL THAWAT
Operating Trend: Steady
Subject has a
workforce of 55 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 850,000 RO 1,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr V S Mehta, Finance Manager
·
Oman
International Bank
Al Jaame Street
PO Box: 4216
Muscat
Tel: (968) 24703614 / 24707328
/ 24793450
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.52.51 |
|
|
1 |
Rs.85.49 |
|
Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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 |
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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 |
|
<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.