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Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
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Name : |
DOUBLE CROWN TRADING LLC |
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Registered Office : |
18th November
Street, Al Azaiba Area, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.11.1992 |
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Com. Reg. No.: |
1/36294/1 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of data, electrical and submersible cables, also agricultural equipment including products for landscaping. |
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No. of Employees : |
15 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 : DOUBLE CROWN TRADING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 10th November 1992
Commercial Registration Number : 1/36294/1
Chamber Membership Number : 3047
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
Total Workforce : 15
Activities : Distributors of data, electrical and submersible cables, also agricultural
equipment including products for landscaping.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
DOUBLE CROWN
TRADING LLC
Registered &
Physical Address
Street : 18th November Street
Area : Al Azaiba Area
PO Box : 1175
Town : Seeb 111
Country : Oman
Telephone : (968) 24498601 / 24498602 / 24501760
/ 24591111
Facsimile : (968) 24498603 / 24501860 / 24590503
Email : engg@doublecrown.net / admin@doublecrown.net
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Oman.
Name Position
·
Adham
Tariq Taymoor Al Saeed Managing
Director
·
Ali
Salem Mohamed Al Wahaibi Director
·
Awatif
Abdullah Hamd Al Busaidi Director
·
Ankit
Matani Purchasing
Manager
·
V Sunil Accounts
Manager
Date of Establishment : 10th
November 1992
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/36294/1
Chamber Member No. : 3047
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
Name of Shareholder
(s)
·
Adham
Tariq Taymoor Al Saeed
·
Ali
Salem Mohamed Al Wahaibi
·
Awatif
Abdullah Hamd Al Busaidi
·
El
Multazim Development & Construction Co LLC
Muscat
Activities: Engaged in the import and distribution of
data, electrical and submersible cables, also agricultural
equipment including products for landscaping.
Import
Countries: Europe and the
Far East.
Brand Names: FINOLEX
Operating Trend: Steady
Subject has a
workforce of 15 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 1,725,000 RO 1,910,000
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.
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.54.88 |
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UK Pound |
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.