MIRA INFORM REPORT

 

 

Report Date :

04.07.2012

 

IDENTIFICATION DETAILS

 

Name :

CAMERON SERVICES MIDDLE EAST LLC

 

 

Registered Office :

Road No. 15 Rusayl Industrial Estate  PO Box 130 Rusayl 124

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.04.1998

 

 

Com. Reg. No.:

1/58421/9

 

 

Legal Form :

Limited Liability Company – LLC

 

 

Line of Business :

Providers of oilfield and gas engineering services.

 

 

No. of Employees :

113

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                         : CAMERON SERVICES MIDDLE EAST LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 1st April 1998

Commercial Registration Number            : 1/58421/9

Chamber Membership Number                : 993

Issued Capital                                        : RO 500,000

Paid up Capital                                      : RO 500,000

Total Workforce                                     : 113

Activities                                               : Providers of oilfield and gas engineering services.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

COMPANY NAME

 

CAMERON SERVICES MIDDLE EAST LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Road No. 15

Area                 : Rusayl Industrial Estate

 

PO Box             : 130

 

Town                 : Rusayl 124

Country             : Oman

 

Telephone         : (968) 24626915 / 24446915

Facsimile          : (968) 24626923

Mobile               : (968) 99358425

Email                : csmel@omantel.net.om

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Jesus Teranes                                                                                  General Manager

 

·       Michael Gordon                                                                                 Technical Manager

 

·       Abdulaziz Al Kayouni                                                                                    Human Resources Manager

 

·       R Ramachandran                                                                              Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st April 1998

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/58421/9

 

Chamber Member No. : 993

 

Issued Capital              : RO 500,000

 

Paid up Capital            : RO 500,000

 

Name of Shareholder (s)

 

·       MB Holding

     Oman

 

·       Cooper Cameron

United States of America

 

 

AFFILIATED COMPANIES

 

·       United Engineering Services LLC

Muscat

     Oman

 

 

OPERATIONS

 

Activities: Engaged in the provision of oilfield and gas engineering services including product assembly, hydrostatic testing, welding, post weld heat treatment, machining, fabrication, inspection, NDT, sandblast, paint and M&TE calibration, as well as repair and remanufacturing of pressure control equipment for oil and gas drilling, production and transmission industries; large BOP stacks, choke manifolds, christmas trees, valves, wellhead equipment and pipe line valves.

 

Import Countries: United States of America and India

 

Operating Trend: Steady

 

Subject has a workforce of 113 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 20,600,000                          RO 21,500,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Citibank

Al Salam Street

PO Box: 999

Abu Dhabi

Tel: (971-2) 2742484

Fax: (971-2) 2744742

 

·       Emirates Bank International Ltd

PO Box: 47676

Abu Dhabi

Tel: (971-2) 6224400

Fax: (971-2) 6225520

 

 

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.54.81

UK Pound

1

Rs.86.04

Euro

1

Rs.69.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.