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MIRA INFORM REPORT
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Report No. : |
484440 |
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Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
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Name : |
JARZEZ TRADING CO LLC |
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Registered Office : |
Way No 238 Al Ghobarah Area, Muscat, 72, Al Khuwair 133 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
23.08.1999 |
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Com. Reg. No.: |
1/30316/3 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is Engaged in the
import and distribution of building and construction materials, motor vehicle
parts, industrial chemicals and heavy machinery |
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No. of Employees : |
30 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
OMAN - ECONOMIC OVERVIEW
Oman is heavily dependent on its dwindling oil resources, which generate 84% of government revenue. In 2016, low global oil prices drove Oman’s budget deficit to $11.5 billion, or approximately 19% of GDP. Oman has limited foreign assets and is issuing debt to cover its deficit.
Oman is using enhanced oil recovery techniques to boost production, but has simultaneously 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% at present to 9% by 2020 in accordance with Oman’s ninth five-year development plan. Tourism and gas-based industries are key components of the government's diversification strategy.
Muscat also has notably focused on creating more Omani jobs to employ the rising number of nationals entering the workforce. However, high social welfare benefits — that had increased in the wake of the 2011 Arab Spring — have challenged the government's ability to effectively balance its budget in light of low export oil prices. In response, Omani officials imposed austerity measures to its gasoline and diesel subsidies in 2016, with further subsidy cuts planned for electricity and liquid petroleum gas. The spending cuts have faced some public opposition, which could hinder their implementation.
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Source
: CIA |
IDENTIFICATION
& CONTACT DETAILS
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1)
Name (s): |
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Organization Official Name |
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JARZEZ TRADING CO LLC |
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2)
Registered Address: |
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Address |
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Way No 238 Al Ghobarah Area |
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Town |
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Muscat |
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Country |
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Oman |
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PO Box |
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72, Al Khuwair 133 |
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Phone (s) |
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(968) 24492121 / 24495242 |
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Facsimile |
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(968) 24492112 / 24495198 |
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Mobile |
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(968) 994463617 / 99664405 |
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Email |
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3)
Operational Address & Contact Details: |
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Address |
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Way No 238 Al Ghobarah Area |
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Town |
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Muscat |
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Country |
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Oman |
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PO Box |
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72, Al Khuwair 133 |
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Phone (s) |
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(968) 24492121 / 24495242 |
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Facsimile |
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(968) 24492112 / 24495198 |
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Mobile |
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(968) 994463617 / 99664405 |
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Email |
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LEGAL
FORM & INCORPORATION (REGISTRATION) DETAILS |
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Legal Form - Category |
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Limited Liability Company –
LLC |
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Date of Registration |
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23rd August 1999 |
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OCCI Number |
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912524 |
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Commercial Registration Number |
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1/30316/3 |
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OTHER
REGISTRATION/ MEMBERSHIPS
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Membership Number |
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262028 |
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KEY
FACTS
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Operational Status |
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Steady |
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Financial Condition |
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Fair |
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Primary Business Activity |
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Distributors of building and construction
materials, motor vehicle parts, industrial chemicals and heavy machinery |
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Number of Employees |
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30 |
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Capital |
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RO 150,000 |
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Note: |
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Engaged in the import and distribution
of building and construction materials, motor vehicle parts, industrial |
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CAPITAL
DETAILS
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Issued
Capital: |
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No
of Shares |
No
of Shares |
Amount |
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N/A |
N/A |
RO 150,000 |
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Paid
Up Capital: |
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No
of Shares |
No
of Shares |
Amount |
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N/A |
N/A |
RO 150,000 |
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FINANCIAL
DATA
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Financial highlights provided
by local sources are given below: |
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Currency: Riyal Omani (RO) |
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Year
Ending 31/12/15: |
Year
Ending 31/12/16: |
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Total
sales |
RO 2,855,000 |
RO 3,000,000 |
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Local sources consider
subject’s financial condition to be Fair. |
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The above financial figures
are based on estimations by our local sources. |
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BANKERS
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1 |
Name |
Commercial Bank of Oman SAOG |
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Address |
Muttrah Business District |
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PO Box |
1696, Ruwi 112 Muscat |
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Tel |
(968) 24793225 / 24793226 /
24793228 |
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Fax |
(968) 24793229 |
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BRANCH
OFFICES
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1 |
Name |
Misfah Al Hadriyah |
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Description |
Retail premises |
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2 |
Name |
Bousher |
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Description |
Office premises |
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3 |
Name |
North Al Khuwair |
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Description |
Retail premises |
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SHAREHOLDERS |
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Sr.No |
Name |
Nationality |
Percentage |
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1 |
Mohamed Arif Khokar |
Indian |
50% |
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2 |
Hamoud Bin Yasser Bin Hamoud
Al Mamari |
Omani
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20% |
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3 |
Haitham Bin Yasser Bin Hamoud
Al Mamari |
Omani
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20% |
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4 |
Yasser Bin Hamoud Hamd Al
Mamari |
Omani
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10% |
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Total
Shares |
100% |
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SENIOR
MANAGEMENT
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Sr.No |
Name |
Nationality |
Designation |
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1 |
Mohamed Arif Khokar |
Indian |
Managing Director |
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2 |
Yasser Bin Hamoud Hamd Al
Mamari |
Omani
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Director |
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3 |
Hamoud Bin Yasser Bin Hamoud
Al Mamari |
Omani
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Director |
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4 |
Haitham Bin Yasser Bin Hamoud
Al Mamari |
Omani
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Director |
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5 |
Maryam Saleh Abdullah Al
Mashaikh |
Omani |
Administration Manager |
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INTERNATIONAL
TRADE ACTIVITY MARKETS
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Sr.No |
Country |
Activity |
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1 |
Europe
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Import |
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2 |
Far East |
Import |
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PREMISES
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Subject operates from a medium
sized suite of offices and a showroom that are rented and located in the Central
Business Area of Muscat. |
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PAYMENT
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No complaints regarding
subject’s payments have been reported. |
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ADVERSE
DATA
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Performance Defaults |
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No
record found |
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Payment Defaults |
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No
record found |
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Adverse Press Coverage |
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No
record found |
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Litigations |
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No
record found |
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Former Business Relationships |
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No
record found |
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INVESTIGATOR'S
COMMENTS
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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. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.74 |
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1 |
INR 86.01 |
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Euro |
1 |
INR 76.14 |
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OMR |
1 |
INR 164.97 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.