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Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
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Name : |
MAZAYA NATIONAL UNITED LLC |
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Registered Office : |
Azaiba Area PO Box 3297 Seeb
111 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.01.2010 |
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Com. Reg. No.: |
1/08286/5 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of building materials and providers of maintenance services |
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No. of Employees : |
6 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : MAZAYA NATIONAL UNITED LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 24th January 2010
Commercial Registration Number : 1/08286/5
Chamber Membership Number : 65783
Issued Capital : RO 20,000
Paid up Capital : RO 20,000
Total Workforce : 6
Activities : Distributors of building materials and providers of maintenance services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Abdullah Saeed Al Rawahi, Managing Director
MAZAYA NATIONAL UNITED LLC
Location : Azaiba Area
PO Box : 3297
Town : Seeb 111
Country : Oman
Telephone : (968) 24495586
Facsimile : (968) 24495534
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Seeb.
Name Position
· Abdullah Saeed Al Rawahi Managing
Director
· Ibrahim Saeed Al Rawahi Director
Date of
Establishment : 24th
January 2010
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/08286/5
Chamber Member No. : 65783
Issued Capital : RO 20,000
Paid up Capital : RO 20,000
· Abdullah Saeed Al Rawahi
· Ibrahim Saeed Al Rawahi
Activities: Engaged in the import and distribution of building materials and
providers of maintenance services.
Import Countries: Europe and the Far East.
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/11:
Total Sales RO
710,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of Muscat
Seeb Branch
PO Box:
2684
Seeb
Tel:
(968) 24621523
Fax:
(968) 24621486
No complaints regarding subject’s payments have been reported.
According to local sources subject’s financial position is described as
healthy and profitable with payments made in a timely manner. The operating
history is clear and the above credit figure is deemed to be within subject’s
financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.97 |
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1 |
Rs.89.02 |
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Euro |
1 |
Rs.70.61 |
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.