|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
OMAN GASKET FACTORY |
|
|
|
|
Registered Office : |
Nizwa Industrial Estate,
P O Box 194, Nizwa 619 |
|
|
|
|
Country : |
Oman |
|
|
|
|
Year of Establishments: |
1997 |
|
|
|
|
Com. Reg. No.: |
1/13682/4 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of gaskets for industrial use |
|
|
|
|
No. of Employees : |
18 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
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 : OMAN GASKET FACTORY
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Start Date : 1997
Registration Date : 19th February 2012
Commercial Registration Number : 1/13682/4
Chamber Membership Number : 161
Issued Capital : RO 850,000
Paid up Capital : RO 850,000
Total Workforce : 18
Activities : Manufacture of gaskets for industrial use
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : T K Selvan, Factory Manager
OMAN GASKET FACTORY
Registered &
Physical Address
Location : Nizwa Industrial Estate
PO Box : 194
Town : Nizwa 619
Country : Oman
Telephone : (968) 25449270
Facsimile : (968) 25449273
Mobile : (968) 96532443
Email : info@omangasket.com
Premises
Subject operates
from a suite of offices and a factory, covering 30,730 square feet that are
rented and located in the Industrial Area of Nizwa.
Name Position
·
Abdullah
Salim Al Juneibi Managing
Director
·
Khamis
Salim Al Juneibi Director
·
Hamoud
Salim Al Juneibi Director
·
Bhudev
Singh General
Manager
·
T K
Selvan Factory
Manager
·
D Brain Financial
Manager
Date of Establishment : Subject’s
operations date back to 1997, however it was registered on 19th
February 2012
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/13682/4
Chamber Member No. : 161
Issued Capital : RO 850,000
Paid up Capital : RO 850,000
Name of Shareholder
(s)
·
Abdullah
Salim Al Juneibi
·
Khamis
Salim Al Juneibi
·
Hamoud
Salim Al Juneibi
·
Dohat
Al Khaleej LLC
DAK Buildings, 4th Floor
Galah Service Road
Athiba
Muscat
Tel: (968) 24502867
Fax: (968) 24504165
Email: info@dakoman.com
Activities: Engaged in the manufacture of industrial
gaskets.
Subject is ISO 9001:2008 accredited.
Production
Capacity: 2 tons per day.
Import
Countries: Italy, India and
the United Arab Emirates.
International
Suppliers:
·
Dan
Lakshmi Industries (DLI) India
·
Super
Light India
·
Al
Dobowi Co UAE
·
FMI Italy
Brand Names: OMAN GASKET
Subject has a
workforce of 18 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: 100
Nizwa 611
Tel: (968) 24410072 / 24410043
Fax: (968) 24410048
No complaints
regarding subject’s payments have been reported.
“Oman Gasket
Factory” used to be a division of “Dohat Al Khaleej LLC”. In February 2012 it became
a separate legal entity under the commercial registration number 1/13682/4.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
UK Pound |
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
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.