MIRA INFORM REPORT

 

 

Report Date :

11.05.2012

 

IDENTIFICATION DETAILS

 

Name :

MINISTRY OF AGRICULTURE & FISHERIES

 

 

Registered Office :

Al Khuwair Area PO Box 467 Muscat 100

 

 

Country :

Oman

 

 

Year of Establishment :

1960

 

 

Legal Form :

Government Ministry

 

 

Line of Business :

Ministry within the Omani Government responsible for the Agriculture and Fisheries industries.

 

 

No. of Employees :

1,200 Approximately

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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

 

COMPANY NAME

 

MINISTRY OF AGRICULTURE & FISHERIES

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Al Khuwair Area

 

PO Box             : 467

 

Town                 : Muscat 100

Country             : Oman

 

Telephone         : (968) 24696300

Facsimile          : (968) 24696271

Email                : info@maf.gov.om / infonet@maf.gov.om

 

Premises

 

Subject operates from a large suite of offices that are owned and located in the Central Business Area of Muscat.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Dr Faud Jaffar Al Sajwani                                                                   Minister of Agriculture & Fisheries

 

·       Mohamed Bin Hilal Al Busaidi                                                            Finance Manager

 

·       Dr Khalid Al Zjali                                                                               Planning Manager

 

·       Dr Ishaaq Bin Fahd Al Rakasih                                                           Agriculture Project Manager

 

·       Hamd Bin Saeed Al Oufi                                                                    Fisheries Project Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1960

 

Legal Form                  : Government Ministry

 

Name of Shareholder (s)                                  Percentage

 

·       Government of Oman                                     100%

 

 

OPERATIONS

 

Activities: Subject is a Ministry within the Omani Government responsible for the Agriculture and Fisheries industries.

 

Subject has a workforce of approximately 1,200 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

 

·       Central Bank of Oman

Central Business District

     PO Box: 4161

     Muscat

     Tel: (968) 24702222

     Fax: (968) 24702253 / 24788513

 

 

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 organisation 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.53.34

UK Pound

1

Rs.86.11

Euro

1

Rs.69.07

 

 

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.