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Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
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Name : |
GULF MINING MATERIALS CO LLC |
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Registered Office : |
Ghala Area PO Box
1828 Azaiba 130 |
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Country : |
Oman |
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Date of Incorporation : |
26.06.2005 |
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Com. Reg. No.: |
1/79808/1 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Owners and operators of a quarry, processing marble and chrome ore |
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No. of Employees : |
280 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Oman |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
OMNA - 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 : GULF MINING MATERIALS CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 26th June 2005
Commercial Registration Number : 1/79808/1
Chamber Membership Number : 2356
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
Total Workforce : 280
Activities : Owners and operators of a quarry, processing marble and chrome ore
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
GULF MINING
MATERIALS CO LLC
Location : Ghala Area
PO Box : 1828
Town : Azaiba 130
Country : Oman
Telephone : (968) 24501759 / 24210700 / 24210799
Facsimile : (968) 24503157 / 24693926 / 24210772
Mobile : (968) 99849667
Email : admin@gulfmining.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Azaiba.
Name Position
·
Abdullah
Bin Ahmed Sulaiman Al Hadi Chairman
·
Ahmed
Abdullah Bin Ahmed Sulaiman Al Hadi Director
·
Sultan
Abdullah Bin Ahmed Sulaiman Al Hadi Director
·
Sanjay
Govind General
Manager
·
Govind
Kalmadi Finance
Manager
Date of Establishment : 26th
June 2005
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/79808/1
Chamber Member No. : 2356
Issued Capital : RO 300,000
Paid up Capital : RO 300,000
·
Abdullah
Bin Ahmed Sulaiman Al Hadi
·
Ahmed
Abdullah Bin Ahmed Sulaiman Al Hadi
·
Sultan
Abdullah Bin Ahmed Sulaiman Al Hadi
·
Gulf
Beach Shipping LLC
Muscat
Activities: Engaged as owners and operators of a quarry,
processing marble and chrome ore.
Subject is developing facilities in Albania and Sohar worth US$
40,000,000.
Subject has a
workforce of approximately 280 employees.
Companies registered
in Oman are not legally required to make their accounts public and no financial
information was released by the company or submitted by outside sources.
·
National
Bank of Oman Limited (SAOG)
PO Box: 52
Muscat
Tel: (968) 24591340 / 24591341
Fax: (968) 24591340
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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.