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Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
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Name : |
MODERN SUPER STONE |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.03.2010 |
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Com. Reg. No.: |
1/08538/9 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of marble and other natural stone |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
OMAN - ECONOMIC OVERVIEW
Oman is a middle-income
economy that is heavily dependent on dwindling oil resources. Because of
declining reserves and a rapidly growing labor force, Muscat has actively pursued
a development plan that focuses on diversification, industrialization, and
privatization, with the objective of reducing the oil sector's contribution to
GDP to 9% by 2020 and creating more jobs to employ the rising numbers of Omanis
entering the workforce. Tourism and gas-based industries are key components of
the government's diversification strategy. By using enhanced oil recovery
techniques, Oman succeeded in increasing oil production, giving the country
more time to diversify, and the increase in global oil prices through 2011
provided the government greater financial resources to invest in non-oil
sectors.
Source : CIA
Company Name : MODERN SUPER STONE
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 9th March 2010
Commercial Registration Number : 1/08538/9
Chamber Membership Number : 66180
Invested Capital : RO 15,000
Activities : Distributors of marble and other natural stone
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MODERN SUPER STONE
PO Box : 315
Town : Mina Al
Fahal 116
Country : Oman
Mobile : (968)
95121436
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Mina Al Fahal.
Name Position
· Juma Bin Ali Bin Hamoud Al Wahibi Proprietor
& General Manager
Date of
Establishment : 9th
March 2010
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1/08538/9
Chamber Member No. : 66180
Invested Capital : RO 15,000
Mr Juma Bin Ali Bin Hamoud Al
Wahibi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of marble and other natural
stone.
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.
·
National Bank of Oman Limited (SAOG)
PO Box: 123
Mina Al Fahal 116
Tel: (968) 24677020 / 24677058 / 24565561
Fax: (968) 24563647
No complaints regarding subject’s payments have been reported.
Please note that there is no entity with the name “Modern Super Stone Co
LLC” registered with the Omani authorities. Commercial registration number
1/04156/7 and PO Box 649 belong to a company called “Al Zaeem for Modern
Enterprises” that has no link to the subject of your enquiry. The number (968)
95121436 is a residential line and also has no link to the subject of your
enquiry. We have therefore not been able to contact the company directly during
our investigation.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.59 |
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1 |
Rs.87.31 |
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Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.