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Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SUCCESSFUL SUN TRADING & CONTRACTING LLC |
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Registered Office : |
Mawalik Market, Rusayl Area PO Box 957, Seeb 121 3898, Ruwi 112 Seeb
121 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.10.2009 |
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Com. Reg. No.: |
1/07866/0 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Wholesalers and retailers of fruit and vegetables |
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No. of Employees : |
10 |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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 : SUCCESSFUL SUN TRADING & CONTRACTING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 27th October 2009
Commercial Registration Number : 1/07866/0
Chamber Membership Number : 12328
Issued Capital : RO 50,000
Paid up Capital : RO 50,000
Total Workforce : 10
Activities : Wholesalers and retailers of fruit and vegetables
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SUCCESSFUL SUN TRADING & CONTRACTING LLC
Location : Mawalik
Market, Rusayl Area
PO Box : 957, Seeb 121
3898, Ruwi 112
Town : Seeb 121
Country : Oman
Telephone : (968) 24550621
Facsimile : (968) 24550621
Mobile : (968)
99316368
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Seeb.
Name Position
· Omar Hilal Al
Mamari Managing
Director
· Shamsah Mohamed Al
Jordani Director
Date of
Establishment : 27th
October 2009
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/07866/0
Chamber Member No. : 12328
Issued Capital : RO 50,000
Paid up Capital : RO 50,000
· Omar Hilal Al
Mamari
· Shamsah Mohamed Al
Jordani
Activities: Engaged in the wholesale and retail 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
650,000 RO
780,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
· Commercial Bank of Oman SAOG
Muttrah
Business District
PO Box:
1696, Ruwi 112
Muscat
Tel:
(968) 24793225 / 24793226 / 24793228
Fax:
(968) 24793229
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.59 |
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1 |
Rs.85.81 |
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Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.