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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
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Name : |
MUSCAT STONE
COMPANY LLC |
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Registered Office : |
Muscat Business District Area, 4026, Ruwi 112, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.07.2007 |
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Com. Reg. No.: |
1/79657/7 |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Subject’s
operations are performed through the following divisions ·
Trading
Division · Fabrication
Division · Quarry Division |
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No. of Employees : |
90 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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 : MUSCAT STONE COMPANY
LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 8th
July 2007
Commercial Registration
Number : 1/79657/7
Membership Number :
7306
Issued Capital : RO
150,000
Paid up Capital : RO
150,000
Total Workforce : 90
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MUSCAT STONE
COMPANY LLC
Location : Muscat Business District Area
PO Box : 4026, Ruwi 112
Town : Muscat
Country : Oman
Telephone : (968) 24815123 / 248818452 / 24815382
Facsimile : (968) 24815383
Mobile : (968) 99336608
Email : oman.ms@gmail.com / info@muscatstone.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
Branch Offices
Location Description
·
Mabela Area Factory
premises
Tel: (968) 96125405
Fax: (968)
24452899
Name Nationality Position
·
Frederick
Cordeiro Anthony Francis Indian Managing
Director
·
Janish Ashwind Dharamsey Omani Director
·
Sharad Mohan - Commercial
Manager
·
Stanley Philipose - Finance
Manager
Date of Establishment : 8th
July 2007
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/79657/7
Membership
No. : 7306
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
·
Frederick
Cordeiro Anthony Francis
·
Janish Ashwind Dharamsey
Activities: Subject’s operations are performed through
the following divisions:
·
Trading Division
Suppliers of marble, granite,
travertine, sand stone, slate and onyx.
· Fabrication Division
Engaged in the Supply, Installation, Inspection,
Re-surfacing and Restoration, fabrication, cutting and processing of stone and
marble.
· Quarry Division
Operators
of quarries
Import
Countries: India and Italy
Brands: ANTOLINI LUIGI
MARBLE, EURO AGLO, GEM GRANITES, JODHPUR SANDSTONE, OMANI MARBLE,
PORCELLANATO, SHELLSTONE and GEMSTONE
Operating Trend: Steady
Subject has a
workforce of 90 employees.
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales RO 2,700,000 RO 2,930,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial Bank of Oman SAOG
Muttrah Business District
PO Box: 1696, Ruwi 112
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.