MIRA INFORM REPORT
|
Report Date : |
18th May 2006 |
IDENTIFICATION DETAILS
|
Name : |
OMAN CHEMICAL
INDUSTRIES CO SAOG |
|
|
|
|
Registered Office : |
Sohar Industrial Estate, Road No 5, Plot
No 119 & 120 5,
Sohar 327, Sultanate of Oman |
|
|
|
|
Date of Incorporation : |
1994 |
|
|
|
|
Legal Form : |
Omani
Public Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and marketing of Zeolite |
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 |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
OMAN CHEMICAL INDUSTRIES CO SAOG |
|
Country of Origin |
Sultanate of Oman |
|
Legal Form |
Omani Public Joint Stock Company |
|
Registration Date |
1994 |
|
Issued Capital |
RO 2,500,000 |
|
Paid up Capital |
RO 2,500,000 |
|
Total Workforce |
80 |
|
Line of Business |
Manufacture and marketing of Zeolite. |
|
Financial Condition |
Undetermined |
|
Payments |
Nothing detrimental uncovered |
COMPANY NAME
OMAN CHEMICAL INDUSTRIES CO SAOG
ADDRESS
Registered & Physical Address
Location : Sohar Industrial Estate, Road No 5, Plot No 119 & 120
PO Box : 5
Town : Sohar 327
Country : Sultanate of Oman
Telephone : (968) 26751878 / 26751868
Facsimile : (968) 26751848
Email : omchemin@omantel.net.om
Premises
Subject operates from a medium sized suite of offices and a factory that are owned and located in the Industrial Area of Sohar.
KEY PRINCIPALS
Hasan A. Jawad Chairman
Tawfeeq A. J. Al Lawati Vice Chairman
Hussain A. Ghuloom Director
Maher M. Amien Director
Ali A. Al Lawati Director
Redha J. Al Saleh Director
Sankaran Saraty Director
Omar A. Al Senjalawi Director
S K Agarwal Finance Manager
Sananthana Krishnan Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form : Sharikat Al Mousahama Al Omania (Societe
Anonyme Omani General - SAOG) (Omani Public
Joint Stock Company)
Issued Capital : RO 2,500,000
Paid up Capital : RO 2,500,000
Name of Shareholder (s)
Hasan A. Jawad
Tawfeeq A. J. Al Lawati
Hussain A. Ghuloom
Maher M. Amien
Ali A. Al Lawati
Redha J. Al Saleh
Sankaran Saraty
Omar A. Al Senjalawi
Omani businessmen & private investors
Note to the Legal Form
Public Joint stock companies may not be incorporated without the prior approval of the Ministry and the issuance of a license to that effect. Public joint stock companies must have a minimum capital of RO 150,000.
LINE OF BUSINESS
Operations : Engaged in the manufacture
and marketing of Zeolite.
The construction of the plant commenced in August 1996 and was completed by August 1997. Main plant and machinery was designed and engineered by Ballestra SpA, Italy, under technology license from Condea Augusta SpA, Italy.
Subject is ISO 9002 certified.
Import Countries : India ad Europe
Export Countries : Indonesia, Japan, Iran, Iraq, Libya, Sri Lanka, Bangladesh
& the Gulf Region
Brand Names : Vagabond-A
Subject has a workforce of 80 employees.
FINANCIAL HIGHLIGHTS
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.
BANKERS
National Bank of Oman Limited (SAOG)
PO Box : 497
Sohar 497
Tel : (968) 26850207
Fax : (968) 26850234
The Commercial Bank of Oman SAOG
Muttrah
Business District
PO Box :
1696, Ruwi 112
Muscat
Tel :
(968) 24793225 / 24793226 / 24793228
Fax :
(968) 24793229
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Oman Chemical Industries Co SAOG
specialises in the manufacture and marketing of Zeolite.
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 and the above credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |