MIRA INFORM REPORT

 

 

Report Date :           

06.08.2012

 

IDENTIFICATION DETAILS

 

Name :

OMAN ALUMINIUM PROCESSING INDUSTRIES LLC (OAPIL)

 

 

Registered Office :

Sohar Industrial Estate, Phase No. 6, PO Box : 324, Sohar 322

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

23.02.2008

 

 

Com. Reg. No.:

1/03932/1

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of aluminium rods.

 

 

No. of Employees :

125

 

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

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Oman

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                         : OMAN ALUMINIUM PROCESSING INDUSTRIES LLC (OAPIL)

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 23rd February 2008

Commercial Registration Number            : 1/03932/1

Chamber Membership Number                : 276

Issued Capital                                        : RO 4,366,000

Paid up Capital                                      : RO 4,366,000

Total Workforce                                     : 125

Activities                                               : Manufacture of aluminium rods.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Person Interviewed                                 : Surojit Singh, Finance Manager

 

 

 

COMPANY NAME

 

OMAN ALUMINIUM PROCESSING INDUSTRIES LLC (OAPIL)

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Sohar Industrial Estate, Phase No. 6

PO Box             : 324

Town                 : Sohar 322

Country             : Oman

Telephone         : (968) 26827317 / 26827310

Facsimile          : (968) 24494986 / 26701577

Mobile               : (968) 99275232 / 96408575 / 99211692

Email                : coo@oapil.com / surojit@oapil.com / yousuf.alrahbi@oapil.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

Fredrick Royal                                                                           Chief Executive Officer

 

Surojit Singh                                                                              Finance Manager

 

Sanjeev Gupta                                                                           Production Manager

 

Saif Balarab Saif Al Mawali                                                         Quality Control Manager

 

Yousef Al Rahbi                                                                         Human Resources Manager

 

France Zafranc                                                                           Health & Safety Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 23rd February 2008. Full production began on 1st July 2010.

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/03932/1

 

Chamber Member No. : 276

 

Issued Capital              : RO 4,366,000

 

Paid up Capital            : RO 4,366,000

 

Name of Shareholder (s)                                              Percentage

 

Oman Cables Industry SAOG                                         51%

 

Takamul Investment Company SAOG                                49%

 

 

OPERATIONS

 

Activities                      : Engaged in the manufacture of aluminium rods.

 

Import Countries          : Europe and GCC countries.

 

Operating Trend          : Steady

 

Subject has a workforce of 125 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/10:              Year Ending 31/12/11:

 

Total Sales                                RO 11,000,000                          RO 11,800,000

 

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

 

The above figures were provided by Mr Surojit Singh, Finance Manager

 

 

BANKERS

 

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

 

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.56.08

UK Pound

1

Rs.87.03

Euro

1

Rs.68.36

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.