MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
OMAN POLYPROPYLENE LLC |
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Registered Office : |
Falaj Al Qabail,
PO Box 277, Sohar 322 |
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Country : |
Oman |
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Date of Incorporation : |
17.07. 2002 |
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Com. Reg. No.: |
1701266 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacture of Polypropylene |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 800,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : OMAN POLYPROPYLENE LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 17th July 2002
Commercial Registration Number : 1701266
Chamber Membership Number : 4325
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 180
Activities : Manufacture of polypropylene
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 800,000
COMPANY NAME
OMAN POLYPROPYLENE
LLC
ADDRESS
Registered & Physical Address
Location : Falaj Al Qabail
PO Box : 277
Town : Sohar 322
Country : Oman
Telephone : (968) 26865000 / 26865100
Facsimile : (968) 26865005
Email : sohar@oman-pp.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Sohar.
KEY PRINCIPALS
Name Position
·
Molhem
Al Garaff Chairman
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Dr Hamad
Dhabab Managing
Director
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Khalifa
Al Kalabani Finance
Manager
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Sunil
Sharma Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
July 2002
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1701266
Chamber Member No. : 4325
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s) Percentage
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Oman Oil
Company 40%
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LG
International Corporation 20%
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International
Petroleum Investment Co (IPIC), Dubai 20%
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Gulf
Investment Corp (GIC), Kuwait 20%
OPERATIONS
Activities: Engaged in the manufacture of
polypropylene.
Production
Capacity: 340,000 metric
tonnes per annum
Import
Countries: Japan, India, China
and Europe
Subject has a
workforce of approximately 180 employees.
FINANCIAL DATA
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
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HSBC Bank
Middle East
PO Box 701528
Muscat
Tel: (968) 24799920
Fax: (968) 24704241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
RATING
EXPLANATIONS
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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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)