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MIRA INFORM
REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
ABI SHOWTECH OMAN LLC (FZE) |
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Registered Office : |
Salalah Free Zone, Auquad,
P O Box 468, Salalah 217 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.08.2008 |
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Com. Reg. No.: |
1/05090/4 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of machined castings for the automotive industry that include drilling and milling |
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$ 200,000 |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
SUMMARY
Company Name : ABI SHOWTECH OMAN LLC (FZE)
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st August 2008
Commercial Registration Number : 1/05090/4
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 43
Activities : Manufacturers of machined castings for the automotive industry that
include drilling and milling.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Raja Raman, General Manager
COMPANY NAME
ABI SHOWTECH OMAN
LLC (FZE)
company ADDRESS
Registered &
Physical Address
Location : Salalah
Free Zone
Area : Auquad
PO Box : 468
Town : Salalah
217
Country : Oman
Telephone : (968) 23219489
Facsimile : (968) 23219487
Email : dcrajaraman1979@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Free Zone Area of Salalah.
KEY PRINCIPALS
Name Nationality Position
·
Ragavuchari Ramnujam Indian Chairman
·
Ramnujam Srikanth Indian Director
·
Raja Raman - General
Manager
·
P. Balla Morgan - Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
August 2008
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/05090/4
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder
(s) Percentage
·
ABI International Pte Ltd 72%
Singapore
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ABI Showtech India Ltd 18%
Chennai
India
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Ragavuchari Ramnujam 5%
·
Ramnujam Srikanth 5%
AFFILIATED COMPANIES
·
The
Dunes Oman LLC FZC
Salalah
Tel: (968) 23219287
Mob: (968) 99606799
OPERATIONS
Activities: Engaged in the manufacture of machined
castings for the automotive industry that include drilling and
milling.
Subject is TS 16949 accredited.
Export
Countries: Germany, Hungary
and India
Operating Trend: Steady
Subject has a
workforce of 43 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 1,294,615 RO 1,443,941
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Raja Raman, General Manager
BANKERS
·
National
Bank of Oman Limited (SAOG)
Hafa Branch
PO Box: 824
Salalah 211
Tel: (968) 23291952
Fax: (968) 23290066
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.13 |
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UK Pound |
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.