MIRA
INFORM REPORT
|
Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DALMA ENERGY & COMPANY LLC |
|
|
|
|
Registered Office : |
Granherne Building, Mina Al Fahal, PO Box 739, Muscat 116 |
|
|
|
|
Country : |
Sultanate of Oman |
|
|
|
|
Date of Incorporation : |
1987 |
|
|
|
|
Com. Reg. No.: |
1707728, Muscat |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Operators of Drilling Rigs. |
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$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : DALMA ENERGY & COMPANY LLC
Country of Origin : Sultanate of Oman
Legal Form : Limited Liability Company - LLC
Start Date : 1987
Registration Date : 14th January 2002
Commercial Registration Number : 1707728, Muscat
Membership Number : 1366
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 150
Line of Business : Operators of drilling rigs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
DALMA ENERGY & COMPANY LLC
ADDRESS
Registered & Physical Address
Building : Granherne
Building
Area : Mina Al
Fahal
PO Box : 739
Town : Muscat 116
Country : Sultanate of
Oman
Telephone : (968) 24636400 / 24636401
Facsimile : (968) 24636406
Email : dalmaenergy@dalmaenergy.com
Premises
Subject operates from a large suite of offices that are rented and located
in the Central Business Area of Muscat.
KEY PRINCIPALS
·
Sohail Faris Ghanim Al Mazrui Managing Director
·
Khaled Ahmed Salem Al Amri Director
·
Mohamed Badawy Al Husseiny Director
·
Karl Georg Schneider Director
·
A H Petant General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s
operations date back to 1987, however it was registered
on 14th
January 2002
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company –
LLC)
Commercial Reg.
No. : 1707728, Muscat
Membership No. : 1366
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Name of Shareholder (s)
·
Aabar Petroleum Investments Company
LINE OF BUSINESS
Operations : The company currently operates 8 Rigs in Oman, 4
of which are Deep Drilling
Rigs working on Gas projects and the remaining 4 are Medium Light Rigs.
Clients include - PTTEP - Middle
East, PetroGas LLC, and Petroleum Development Oman.
Import Countries : Europe and the United States of America
Subject has a workforce of approximately 150 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
·
Bank Muscat SAOG
Ruwi Main Branch
PO Box:
6326
Muscat
Tel:
(968) 24561399 / 24708543
Fax:
(968) 24561036
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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$ 250,000
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)