MIRA INFORM REPORT

 

 

Report Date :           

03.08.2011

 

IDENTIFICATION DETAILS

 

Name :

OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC

 

 

Registered Office :

Raysut Industrial Area, P O Box 2875, Salalah 211

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.03.1998

 

 

Com. Reg. No.:

2/13799/2

 

 

Legal Form :

Omani Closed Joint Stock Company

 

 

Line of Business :

Manufacturers of animal feeds and the purchase and sale of livestock

 

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$ 400,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Oman

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

SUMMARY

 

Company Name                                     : OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC

Country of Origin                                    : Oman

Legal Form                                            : Omani Closed Joint Stock Company

Registration Date                                   : 14th March 1998

Commercial Registration Number            : 2/13799/2

Authorised Capital                                  : RO 15,000,000

Issued Capital                                        : RO   6,558,217

Paid up Capital                                      : RO   6,558,217

Total Workforce                                     : 50

Activities                                               : Manufacturers of animal feeds and the purchase and sale of livestock.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 400,000

Person Interviewed                                 : Mohamed Ahmed Noor, Auditor

COMPANY NAME

 

OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Raysut Industrial Area

PO Box             : 2875

Town                 : Salalah 211

Country             : Oman

Telephone         : (968) 23219101

Facsimile          : (968) 23219575 / 23299237

Mobile               : (968) 95820542

Email                : info@onld.com

 

Please note that Chamber of Commerce Building, 3rd Floor, Salalah Center, Salalah 211 was the subject’s previous address.

 

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Industrial Area of Salalah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mohamed Jawad Hassan                                                                   Chairman

 

·       Ahmed Salim Ali Al Mashani                                                              Vice Chairman

 

·       Dr Abdullah Bin Zaher Al Henai                                                           Director

 

·       Ahmed Saeed Qatn                                                                           Director

 

·       Yacoub Bin Saeed Al Qasrafi                                                             Director

 

·       Aubad Salim Ali Ghawas                                                                   Director

 

·       Abdullah Ahmed Milat Al Mahri                                                           Director

 

·       P R Venkitrayan                                                                                General Manager

 

·       Mohamed Ahmed Noor                                                                      Auditor

 

·       Ahmed Masood                                                                                 Commercial Manager

 

·       Mohamed Salem Ayweda                                                                  Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 14th March 1998

 

History                         : Subject was originally an Omani Public Joint Stock Company but became an Omani Closed Joint Stock Company in 2009.

 

Legal Form                  : Omani Closed Joint Stock Company

 

Commercial Reg. No.  : 2/13799/2

 

Authorised Capital       : RO 15,000,000

 

Issued Capital              : RO   6,558,217

 

Paid up Capital            : RO   6,558,217

 

Name of Shareholder (s)                                           Percentage

 

·       Government of Oman                                     59.20%

 

·       Omani farmers                                                          40.80%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of animal feeds and the purchase and sale of livestock.

 

     Subject plans to establish a dairy processing plant based on milk collection from farmers, fattening and

     meat processing, vet extension and development services projects.

 

Import Countries: Europe and GCC countries.

 

Subject has a workforce of 50 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                RO 4,050,000                            RO 4,300,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Mohamed Ahmed Noor, Auditor

 

 

BANKERS

 

·       Bank of Muscat

     Al Nadha Street

     PO Box: 18537

     Salalah

     Tel: (968) 23290244

     Fax: (968) 23292309

 

 

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.23

UK Pound

1

Rs.72.09

Euro

1

Rs.62.99

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.