MIRA INFORM REPORT
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Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
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Name : |
J BROTHERS LLC |
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Registered Office : |
North Boshar
Area, P O Box 119, Muscat 326 |
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Country : |
Oman |
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Date of Incorporation : |
25.07.2011 |
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Com. Reg. No.: |
1/11678/0 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
General building and construction contractors |
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No. of Employees : |
15 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New 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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Oman |
A2 |
A2 |
|
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.
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Source : CIA |
Company Name : J BROTHERS LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 25th July 2011
Commercial Registration Number : 1/11678/0
Chamber Membership Number : 14292
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 15
Activities : General building and construction contractors
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
J BROTHERS LLC
Registered &
Physical Address
Location : North Boshar Area
PO Box : 119
Town : Muscat 326
Country : Oman
Telephone : (968) 99569786 / 96943455
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Muscat.
Name Nationality Position
·
Haroun
Mubashar Pakistani Managing
Director
·
Amer
Ali Sheikh Pakistani Director
·
Mohamed
Faisal Ganu Pakistani Director
·
Mohamed
Ahsan Al Haq Pakistani Director
·
Ihtisham
Eddine Pakistani Director
·
Tochodari
Shahadar Akram British Director
·
Bader
Salem Saeed Al Rabee Omani Director
Date of Establishment : 25th
July 2011
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/11678/0
Chamber Member No. : 14292
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s)
·
Bader
Salem Saeed Al Rabee
·
Haroun
Mubashar
·
Amer Ali
Sheikh
·
Mohamed
Faisal Ganu
·
Mohamed
Ahsan Al Haq
·
Ihtisham
Eddine
·
Tochodari
Shahadar Akram
Activities: Engaged as general building and
construction contractors.
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) 700810 / 799920 / 799927
Fax: (968) 704241
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.75 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.69.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.