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Report No. : |
338073 |
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Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL TOURISM RESTAURANTS LLC (AMERICANA) |
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Registered Office : |
Building No. 741, KFC Building, 4th, 5th and 6th
Floors, College Street Al Khuwair No. 33, 3629, Ruwi 112, Muscat |
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Country : |
Oman |
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Date of Incorporation : |
09.01.1986 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged as operators of restaurants and fast food outlets. |
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No. of Employees : |
300 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 heavily dependent on dwindling oil resources, which generates 77% of government revenue. It is using enhanced oil recovery techniques to boost production. 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 from 46% to 9% by 2020. Muscat also is focused on 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, have challenged the government's ability to effectively balance its budget as oil prices decline. Despite government acknowledgement that Oman’s expansive social welfare benefits are unsustainable, Oman authorities are comfortable with short-term budget deficits and have approved an expansionary 2015 budget. Concurrently, Oman has expanded efforts to support the development of small and medium-size enterprises and entrepreneurship. Government agencies and large oligarchic group companies have announced 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.
|
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
Person Interviewed : Shareef Tolbah, Finance Manager
NTERNATIONAL
TOURISM RESTAURANTS LLC (AMERICANA)
Building :
Building No. 741, KFC Building, 4th, 5th and 6th
Floors
Street : College
Street
Area : Al Khuwair
No. 33
PO Box : 3629, Ruwi 112
Town : Muscat
Country : Oman
Telephone : (968) 24565558
/ 24477700 / 24564779 / 24477722 /
24477726 / 24477729
Facsimile : (968) 24477701
/ 24477703
Mobile : (968) 92330537 / 93350652 / 99225393
Email :
mfutteh@americanafood.com / hatef@americanfood.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Muscat.
Name Nationality Position
· Nasser Mohamed
Abdul Mohsen Al Kharafi Kuwaiti Managing Director
· Mohamed Futteh - Project
Manager
· Hadi Atef - Marketing
Manager
· Shareef Tolbah - Finance
Manager
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 approximately 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.66.26 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
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.