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Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
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Name : |
AL SHARQIYA MARKETING FRUITS & VEGETABLES
TRADING LLC |
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Registered Office : |
Central Fruits & Vegetable Market, Mawaela, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.12.1997 |
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Com. Reg. No.: |
1/57798/0 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of fruit and vegetables |
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No. of Employees : |
10 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
oman - ECONOMIC OVERVIEW
Oman is a middle-income
economy that is heavily dependent on dwindling oil resources. Because of
declining reserves and a rapidly growing labor force, Muscat has actively
pursued a development plan that focuses on diversification, industrialization,
and privatization, with the objective of reducing the oil sector's contribution
to GDP to 9% by 2020 and creating more jobs to employ the rising numbers of
Omanis entering the workforce. Tourism and gas-based industries are key
components of the government's diversification strategy. By using enhanced oil
recovery techniques, Oman succeeded in increasing oil production, giving the
country more time to diversify, and the increase in global oil prices through
2011 provided the government greater financial resources to invest in non-oil
sectors.
|
Source : CIA |
Company Name : AL SHARQIYA MARKETING FRUITS & VEGETABLES TRADING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 9th December 1997
Commercial Registration Number : 1/57798/0
Chamber Membership Number : 10369
Issued Capital : RO 66,000
Paid up Capital : RO 66,000
Total Workforce : 10
Activities : Distributors of fruit and vegetables
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dason Chaloli, Commercial Manager
AL SHARQIYA
MARKETING FRUITS & VEGETABLES TRADING LLC
Registered &
Physical Address
Location : Central Fruits & Vegetable Market, Mawaela
PO Box : 153
Town : Muscat 121
Country : Oman
Facsimile : (968) 24544628
Mobile : (968) 99468301 / 98111595
Email : dasonchaloli@gmail.com
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Muscat.
Name Position
·
Ali Bin
Khamis Nasser Al Farsi Managing
Director
·
Khalid
Ali Bin Khamis Nasser Al Farsi Director
·
Dason Chaloli Commercial
Manager
Date of Establishment : 9th
December 1997
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/57798/0
Chamber Member No. : 10369
Issued Capital : RO 66,000
Paid up Capital : RO 66,000
Name of
Shareholder (s)
·
Ali Bin
Khamis Nasser Al Farsi
·
Khalid
Ali Bin Khamis Nasser Al Farsi
Activities: Engaged in the import and distribution of
fruit and vegetables.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 10 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 1,020,000 RO 1,105,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Oman
Arab Bank
Muttrah Business District
PO Box: 2010, Ruwi 112
Muscat
Tel: (968) 24700161 / 24706265
/ 24706267
Fax: (968) 24797736
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.16 |
|
UK Pound |
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
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 |
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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 |
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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.