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Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL TOURISM RESTAURANTS LLC (AMERICANA) |
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|
|
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Registered Office : |
KFC Building, 4th,
5th and 6th Floors, Al Khuwair No. 33, P O Box : 3629, Muscat |
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Country : |
Oman |
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Date of Incorporation : |
09.01.1986 |
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Com. Reg. No.: |
1/24202/4 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Operators of
Restaurants and Fast Food Outlets. |
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No. of Employees : |
300 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. However, increases in social welfare
benefits, particularly since the Arab Spring, will challenge the government's
ability to effectively balance its budget if oil revenues decline. 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. In 2012, continued surpluses resulting from
sustained high oil prices and increased enhanced oil recovery allowed the
government to maintain growth in social subsidies and public sector job
creation. However, the Sultan made widely reported statements indicating this
would not be sustainable, and called for expanded efforts to support SME
development and entrepreneurship. Government agencies and large oligarchic
group companies heeded his call, announcing new initiatives to spin off
non-essential functions to entrepreneurs, incubate new businesses, train and
mentor up and coming business people, and provide financing for start-ups. In
response to fast growth in household indebtedness, the Central Bank reduced the
ceiling on personal interest loans from 8 to 7%, lowered mortgage rates, capped
the percentage of consumer loans at 50% of borrower's salaries for personal
loans and 60% for housing loans, and limited maximum repayment terms to 10 and
25 years respectively.
|
Source
: CIA |
Company Name : INTERNATIONAL TOURISM
RESTAURANTS LLC (AMERICANA)
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 9th
January 1986
Commercial
Registration Number : 1/24202/4
Chamber Membership
Number : 1436/1
Issued Capital : RO
200,000
Paid up Capital : RO
200,000
Total Workforce : 300
Activities :
Operators of restaurants and fast food outlets
Financial Condition : Undetermined
Payments : Nothing
detrimental uncovered
INTERNATIONAL
TOURISM RESTAURANTS LLC (AMERICANA)
Building : KFC Building, 4th, 5th
and 6th Floors
Area : Al Khuwair No. 33
PO Box : 3629
Town : Muscat
Country : Oman
Telephone : (968) 24565558 / 24477700 / 24564779
Facsimile : (968) 24477701 / 24477703
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
Name Nationality Position
·
Mohamed
Reda El Sayed Diab Omani Managing Director
·
Nasser
Mohamed Abdul Mohsen Al Kharafi Kuwaiti Director
·
Abdullah
Mahmoud Abdullah Rizq Egyptian Director
·
Mahmoud
Fakhi Hassan Shalaby Egyptian Director
Date of Establishment : 9th
January 1986
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/24202/4
Chamber Member No. : 1436/1
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
·
Mohamed
Reda El Sayed Diab
·
Kuwait
Food Co SAK (Americana)
Plot No. 198A
Canada Dry Street
Shuwaikh Industrial Area
PO Box: 5087
Safat 13051
Kuwait
Tel: (965) 24815900 / 24735476 / 24749543 / 24347938
Fax: (965) 24815914 / 24338464 / 24846925 / 24340032
Subject is a member of the Americana Group of companies, which consists
of the following concerns:
·
Qatar
Foodstuff Co
PO Box: 4548
Doha
Qatar
Tel: (974) 44423102
Fax: (974) 44425982
·
Kuwait
Food Co (Americana)
PO Box: 6844
Sharjah
United Arab Emirates
Tel: (971-6) 5593614
Fax: (971-6) 5594302
·
Gulf
Food Industries Co (California Garden)
Sheikh Zayed Road
Jebel Ali Free Zone
PO Box: 17100
Dubai
United Arab Emirates
Tel: (971-4) 8815633
Fax: (971-4) 8815544
·
Al
Ahlia Restaurant Co
PO Box: 8030
Jeddah 21482
Saudi Arabia
Tel: (966-2) 6520073
Fax: (966-2) 6520148
·
Bahrain
& Kuwait Restaurant Co
PO Box: 20464
Manama
Bahrain
Tel: (973-17) 262998
Fax: (973-17) 272883
·
Cairo
Poultry Co
23 Mourad Street
Giza
Cairo
Egypt
Tel: (20-2) 35730859 /
35715905
Fax: (20-2) 35738548
·
Gulf
Mineral Water & Processing Industries Co Ltd
PO Box: 929
Ajman
United Arab Emirates
Tel: (971-6) 7421800
Fax: (971-6) 7446394
·
Tourist
Projects & International Restaurants Co Ltd
PO Box: 950584
Amman 11195
Jordan
Tel: (962-6) 5693759
Fax: (962-6) 5681110
·
Arab
Gulf Co for Food & Supermarkets
Fawamiah
PO Box: 23828
Safat
Kuwait
Tel: (965) 24340048
Fax: (965) 24338933
·
International
Fashion Co
Souk El Souf
Jeddah 21463
Saudi Arabia
Tel: (966-2) 6613108
·
Egyptian
Co for International Touristic Projects
47 El Batal Ahmed Abdelaziz Street
Mohandessin
Cairo
Egypt
Tel: (20-2) 33469719
Fax: (20-2) 33011578
·
Kuwait
Food Co
Cairo
Egypt
·
Al
Americana International Company (Safeway)
Kuwait
·
Al
Ahlia National Food Industries Co
Saudi Arabia
·
International
Cosmetics Co
Saudi Arabia
·
United
Food Co
Saudi Arabia
·
Americana
International Company
United Arab Emirates
·
International
Touristic Projects Lebanese Co
Lebanon
·
Gulf and
Arab World Restaurants Co
Bahrain
·
The
Caspian International Restaurants Co
Kazakhstan
·
Americana
Group for Food and Touristic Projects
Egypt
·
International
Co for Agricultural Development
Egypt
·
Al
Mohandas National Co
Egypt
·
Egyptian
Canning Co
Egypt
·
Americana
Egypt for Cold Storage
Egypt
·
Americana
Marketing and Distributing Co
Egypt
·
Greenland
Group for Food Industries Co
Egypt
·
International
Co for Agriculture Production & Processing
Egypt
·
Egyptian
Company for Starch and Glucose
Egypt
·
Senyorita
Group for Food Industries Co
Egypt
·
Development
Agriculture Co
Egypt
·
Al
Hashimya Co
Egypt
·
International
for Food Industry Co
Egypt
·
Americana
for Land Reclamation Cultivation Co
Egypt
Activities: Engaged as operators of restaurants and fast
food outlets.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of 300 employees.
Companies
registered in Oman are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
National
Bank of Oman Limited
Ruwi Branch
PO Box: 3752
Muscat
Tel: (968) 24708898
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.