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Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ARAM FOR MODERN TECHNOLOGY LLC |
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Registered Office : |
Al Ghubrah Area, P
O Box 71, Muscat 118 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
20.10.2002 |
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Com. Reg. No.: |
1/70670/5 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of ceramics, marble, granite and natural stone |
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No. of Employees : |
30 |
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 : ARAM FOR MODERN TECHNOLOGY LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 20th October 2002
Commercial Registration Number : 1/70670/5
Chamber Membership Number : 4384
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 30
Activities : Distributors of ceramics, marble, granite and natural stone
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARAM FOR MODERN
TECHNOLOGY LLC
Registered &
Physical Address
Location : Al Ghubrah Area
PO Box : 71
Town : Muscat 118
Country : Oman
Telephone : (968) 24475422 / 24499695 / 24499031
Facsimile : (968) 24499659
Mobile : (968) 99831900 / 99633101 /
99462594
Email : mazen@aram-tech.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
Name Position
·
Mazen
Ahmed Al Khrisat Managing
Director
·
Ahmed
Amer Al Amri Director
·
Hazem
Raafat Commercial
Manager
·
Khalid Zamrinin Sales
Manager
Date of Establishment : 20th
October 2002
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/70670/5
Chamber Member No. : 4384
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s)
·
Mazen
Ahmed Al Khrisat
·
Ahmed
Amer Al Amri
Activities: Engaged in the import and distribution of
ceramics, marble, granite and natural stone. Subject also acts as installation
contractors.
Import Countries: China
International
Suppliers:
·
Sandeepo China
·
Somit China
Operating Trend: Steady
Subject has a
workforce of 30 employees.
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales RO 2,400,000 RO 2,650,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Oman Limited (SAOG)
Muttrah Business District
PO Box: 751, Ruwi 112
Muscat
Tel: (968) 24708894 / 24708630 / 24708684
Fax: (968) 24707781 / 24703972
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
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 |
---- |
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.