MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	GULF CANS & PACKAGING INDUSTRY
Registered Office :	Sohar Industrial Estate, P O Box 64, Sohar 327
Country :	Oman
Date of Incorporation :	January 2012
Com. Reg. No.:	1751786
Legal Form :	Sole Proprietorship
Line of Business :	Manufacture of cans and packaging products
No. of Employees :	70

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$ 150,000
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 – September 30^th, 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 : GULF CANS & PACKAGING INDUSTRY

Country of Origin : Oman

Legal Form : Sole Proprietorship

Registration Date : 31^st March 2004

Production Started : January 2012

Commercial Registration Number : 1751786

Chamber Membership Number : 433

Invested Capital : RO 2,500,000

Total Workforce : 70

Activities : Manufacture of cans and packaging products.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Recommended Credit Limit : US$ 150,000

Person Interviewed : Surendra Seghal, Assistant General Manager

COMPANY NAME

GULF CANS & PACKAGING INDUSTRY

company ADDRESS

Registered & Physical Address

Location : Sohar Industrial Estate

PO Box : 64

Town : Sohar 327

Country : Oman

Telephone : (968) 26701707 / 26701708 / 26701706

Facsimile : (968) 26701709

Mobile : (968) 97884917 / 99470707

Email : saleh@gcpioman.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

· Khalid Bin Hamd Saif Al Jalabani Proprietor & General Manager

· Surendra Seghal Assistant General Manager

· Naresh Talwar Plant Manager

· Saleh Mohamed Administration Manager

LEGAL FORM & OWNERS

Date of Establishment : 31^st March 2004

Production Started : January 2012

Legal Form : Sole Proprietorship

Commercial Reg. No. : 1751786

Chamber Member No. : 433

Invested Capital : RO 2,500,000

Mr Khalid Bin Hamd Saif Al Jalabani is the sole proprietor of the business.

AFFILIATED COMPANIES

· International Marble Company (IMC)

Muscat

· Global Wood Work LLC

Muscat

OPERATIONS

Activities: Engaged in the manufacture of cans and packaging products for milk powder, custard, tomato paste as well as lubricants. Full production began in 2012.

Import Countries: Europe and the Far East.

Subject has a workforce of 70 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

· 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

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the business is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.59
UK Pound	1	Rs.80.34
Euro	1	Rs.67.14

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%)

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