MIRA INFORM REPORT

 

 

Report Date :

23.04.2013

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED AL HAJI ALI SAJWANI LLC

 

 

Registered Office :

Shop No. 1223, Souq Muttrah, P O Box130, Muttrah 114

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

20.07.1975

 

 

Com. Reg. No.:

1/02696/5

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale and retail of general foodstuff products

 

 

No. of Employees :

12

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

 

 

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 – 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

 

 

 

 

 

 

 

SUMMARY

 

Company Name                         : MOHAMED AL HAJI ALI SAJWANI LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Start Date                                             : 20th July 1975

Registration Date                                   : 20th November 2007

Commercial Registration Number            : 1/02696/5

Chamber Membership Number                : 29

Issued Capital                                        : RO 100,000

Paid up Capital                                      : RO 100,000

Total Workforce                                     : 12

Activities                                               : Wholesale and retail of general foodstuff products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Nazir Ahmed, Finance Manager

 

 

 

COMPANY NAME

 

MOHAMED AL HAJI ALI SAJWANI LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Shop No. 1223

Area                 : Souq Muttrah

PO Box             : 130

Town                 : Muttrah 114

Country             : Oman

Telephone         : (968) 24712607 / 24712942

Facsimile          : (968) 24714113

Email                : sajwanimct@yahoo.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Al Haji Ali Sajwani                                                              Managing Director

 

·       Anjab Mohamed Al Haji Ali Sajwani                                                    Director

 

·       Taher Mohamed Al Haji Ali Sajwani                                                     Director

 

·       Ali Mohamed Al Haji Ali Sajwani                                                         Director

 

·       Reza Mohamed Al Haji Ali Sajwani                                                     Director

 

·       Batuol Mohamed Al Haji Ali Sajwani                                                   Director

 

·       Tahera Mohamed Al Haji Ali Sajwani                                                   Director

 

·       Alia Mohamed Al Haji Ali Sajwani                                                       Director

 

·       Fatima Mohamed Al Haji Ali Sajwani                                                   Director

 

·       Ramniklal Vitana                                                                               Commercial Manager

 

·       Nazir Ahmed                                                                         Finance Manager

 

LEGAL FORM & OWNERS

 

 

Date of Establishment  : 20th July 1975

 

History                         : Subject began in 1975 as a Sole Proprietorship. However on 20th November 2007 it re-

  registered as a Limited Liability Company.

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/02696/5

 

Chamber Member No. : 29

 

Issued Capital              : RO 100,000

 

Paid up Capital            : RO 100,000

 

Name of Shareholder (s)

 

·       Mohamed Al Haji Ali Sajwani

 

·       Anjab Mohamed Al Haji Ali Sajwani

 

·       Taher Mohamed Al Haji Ali Sajwani

 

·       Ali Mohamed Al Haji Ali Sajwani

 

·       Reza Mohamed Al Haji Ali Sajwani

 

·       Batuol Mohamed Al Haji Ali Sajwani

 

·       Tahera Mohamed Al Haji Ali Sajwani

 

·       Alia Mohamed Al Haji Ali Sajwani

 

·       Fatima Mohamed Al Haji Ali Sajwani

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of general foodstuff products, including rice, sugar, coffee, tea and canned food.

 

Import Countries: India, Sri Lanka, Europe and the United States of America.

 

Operating Trend: Steady

 

Subject has a workforce of 12 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/11:                Year Ending 31/12/12:

 

Total Sales                                RO 650,000                               RO 700,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Nazir Ahmed, Finance Manager

 

 

BANKERS

 

·       Bank Muscat SAOG

Muttrah Commercial District

Greater Muttrah

       PO Box: 3134

       Muscat 112

       Tel: (968) 24703044 / 24703137 / 24707015

       Fax: (968) 24793536

 

·       HSBC Bank Middle East

Muttrah Business District

PO Box: 240, Ruwi 112

Muscat

Tel: (968) 24700810 / 24799920 / 24799927

Fax: (968) 24704241

 

 

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.54.17

UK Pound

1

Rs.82.45

Euro

1

Rs.70.70

 

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

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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