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Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Rusayl, |
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Country : |
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Date of Incorporation : |
16.11.2011 |
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Com. Reg. No.: |
1127606 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Smelting of steel billets |
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No. of Employees : |
65 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Nb |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
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 – 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 |
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 :
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 16th November 2011
Commercial Registration Number : 1127606
Chamber Membership Number : 3035
Issued Capital : RO 1,000,000
Paid up Capital : RO 1,000,000
Total Workforce : 65
Activities : Smelting of steel billets
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MUSCAT STEEL
MELTING CO LLC
Registered &
Physical Address
Location : Rusayl
PO Box : 1148
Town : Azaiba 130
Country : Oman
Telephone : (968) 24446938
Facsimile : (968) 24446524
Mobile : (968) 99833661 / 92343589
Email : info@muscatsteel.net
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Azaiba.
Name Position
·
Juma
Bin Ali Juma Al Juma Managing
Director
·
Sulaiman
Abdulaziz Sulaiman Director
·
Mohamed
Sulaiman Abdulaziz Sulaiman Director
·
Ghassan
Sulaiman Abdulaziz Sulaiman Director
·
Sreedhar
Tummala Assistant
General Manager
·
M Kimi Financial
Controller
Date of Establishment : 16th
November 2011
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1127606
(Expires 15/11/2016)
Chamber Member No. : 3035
Issued Capital : RO 1,000,000
Paid up Capital : RO 1,000,000
Name of Shareholder
(s)
·
Juma
Bin Ali Juma Al Juma
·
Sulaiman
Abdulaziz Sulaiman
·
Mohamed
Sulaiman Abdulaziz Sulaiman
·
Ghassan
Sulaiman Abdulaziz Sulaiman
·
Muscat
Steel Distribution LLC
PO Box: 1148
Azaiba 130
·
Muscat
Steel Industries LLC
PO Box: 1148
Azaiba 130
Activities: Engaged in the process of smelting of steel
billets
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 65 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
HSBC
Middle East
PO Box: 234
Muscat 113
Tel: (968) 24736041 / 24736042
Fax: (968) 24736043
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.97 |
|
UK Pound |
1 |
Rs.87.52 |
|
Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.