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Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL ZIRAA TRADING EST |
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Registered Office : |
Wadi Al Wami
Area, P O Box 508, Seeb 121 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
25.03.1989 |
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Com. Reg. No.: |
1/27837/1 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of fishing equipment |
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No. of Employees : |
09 |
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 : |
Regular |
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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) |
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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 : AL ZIRAA TRADING EST
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 25th March 1989
Commercial Registration Number : 1/27837/1
Chamber Membership Number : 2487
Invested Capital : RO 6,000
Total Workforce : 9
Activities : Distributors of fishing equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL ZIRAA TRADING
EST
Registered &
Physical Address
Location : Wadi Al Wami Area
PO Box : 508
Town : Seeb 121
Country : Oman
Telephone : (968) 24420917
Facsimile : (968) 24412615
Mobile : (968) 99316936
Email : al-zivab@hotmail.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Seeb.
Name Position
·
Khalfan
Khamees Al Amry Proprietor
& General Manager
·
Khalil
Khalfan Khamees Al Amry Assistant
General Manager
Date of Establishment : 25th
March 1989
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1/27837/1
Chamber Member No. : 2487
Invested Capital
: RO 6,000
Mr Khalfan Khamees
Al Amry is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
fishing equipment, including nets, ropes, rods and related
products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 9 employees.
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 680,000 RO 715,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Muscat
Seeb Branch
PO Box: 2684, Seeb Airport
Muscat
Tel: (968) 24621523
Fax:
(968) 24621486
No complaints regarding
subject’s payments have been reported.
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
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UK Pound |
1 |
Rs.82.06 |
|
Euro |
1 |
Rs.70.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.