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Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
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Name : |
AL TAMMAM INDSIL FERRO CHROME LLC |
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Registered Office : |
Way No. 3106, Ruwi PO Box 592 Al Hamriya 131 |
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Country : |
Oman |
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Date of Incorporation : |
19.06.2010 |
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Com. Reg. No.: |
1/09049/9 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Processors and production of ferro chrome. |
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No. of Employees : |
15 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Yet to Commence Business |
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Payment Behaviour : |
Unknown |
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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 – 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 : AL TAMMAM INDSIL FERRO CHROME LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 19th June 2010
Commercial Registration Number : 1/09049/9
Chamber Membership Number : 12688
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 15
Activities : Processors and production of ferro chrome.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL TAMMAM INDSIL FERRO CHROME LLC
Location : Way No. 3106,
Ruwi
PO Box : 592
Town : Al Hamriya
131
Country : Oman
Telephone : (968) 24794404
/ 24703844
Facsimile : (968) 24793071
Mobile : (968)
92731321 / 95617750
Email : musovrco@omantel.net.om
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Al Hamriya.
Branch Office (s)
Location Description
· Sohar Industrial
Area Factory
premises
Name Position
· Sheikh Salem
Mushil Ahmed Al Mashkani Chairman
· Venod Jain Chief
Executive Officer
· K K Abdulrazza Group
Financial Manager
Date of Establishment : 19th June 2010 (Production will
begin in 2013)
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/09049/9
Chamber Member No. : 12688
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
· Muscat Overseas
Oman
· Indsil Energy and
Electrochemicals Ltd
India
· Indsil Hydro Power
and Manganese Ltd
India
Activities: Engaged in the processing and production of ferro chrome.
Subject plans to invest around US$ 70 million in the establishment of the ferro alloy venture at the Sohar
industrial park.
Subject has a workforce of 15 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
HSBC Bank Middle East
Muttrah Business
District
PO Box: 240, Ruwi
112
Muscat
Tel: (968)
24700810 / 24799920 / 24799927
Fax: (968)
24704241
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.21 |
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1 |
Rs.84.00 |
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Euro |
1 |
Rs.67.75 |
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 |
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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.