|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC |
|
|
|
|
Registered Office : |
Raysut Industrial Area,
P O Box 2875, Salalah 211 |
|
|
|
|
Country : |
Oman |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.03.1998 |
|
|
|
|
Com. Reg. No.: |
2/13799/2 |
|
|
|
|
Legal Form : |
Omani Closed Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturers of animal feeds and the purchase and sale of livestock |
|
|
|
|
No. of Employees : |
50 |
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 : OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC
Country of Origin : Oman
Legal Form : Omani Closed Joint Stock Company
Registration Date : 14th March 1998
Commercial Registration Number : 2/13799/2
Authorised Capital : RO 15,000,000
Issued Capital : RO 6,558,217
Paid up Capital : RO 6,558,217
Total Workforce : 50
Activities : Manufacturers of animal feeds and the purchase and sale of livestock.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Ahmed Noor, Internal Auditor
OMANI NATIONAL
LIVESTOCK DEVELOPMENT SAOC
Registered & Physical
Address
Location : Raysut Industrial Area
PO Box : 2875
Town : Salalah 211
Country : Oman
Telephone : (968) 23219101
Facsimile : (968) 23219575 / 23299237
Mobile : (968) 95820542
Email : info@onld.om
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Salalah.
Name Position
·
Mohamed Jawad Hassan Chairman
·
Ahmed Salim Ali Al Mashani Vice
Chairman
·
Dr Abdullah Bin Zaher Al Henai Director
·
Ahmed Saeed Qatn Director
·
Yacoub Bin Saeed Al Qasrafi Director
·
Aubad Salim Ali Ghawas Director
·
Abdullah Ahmed Milat Al Mahri Director
·
P R Venkitrayan General
Manager
·
Mohamed Ahmed Noor Internal
Auditor
·
Ahmed Masood Commercial
Manager
·
Mohamed Saeed Al Aywed Administration
Manager
·
Mohamed
Salem Al Ayweda Financial
Manager
Date of Establishment : 14th
March 1998
History : Subject was originally an Omani Public
Joint Stock Company but became an Omani Closed Joint Stock Company in 2009.
Legal Form :
Omani Closed Joint Stock
Company
Commercial Reg. No. : 2/13799/2
Authorised Capital : RO
15,000,000
Issued Capital : RO
6,558,217
Paid up Capital : RO 6,558,217
Name of Shareholder
(s) Percentage
·
Government
of Oman 59.20%
·
Omani
farmers 40.80%
Activities: Engaged in the manufacture of animal feeds
and the purchase and sale of livestock.
Subject plans to establish a dairy
processing plant based on milk collection from farmers, fattening and
meat processing, vet
extension and development services projects.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of 50 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 6,680,000 RO 7,012,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Ahmed Noor, Internal Auditor
·
Bank of
Muscat
Al Nadha Street
PO Box: 18537
Salalah
Tel: (968) 23290244
Fax: (968) 23292309
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.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.