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Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MSA GLOBAL LLC |
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Registered Office : |
Way No. 3109
Block No 131, Building No. 471, P O Box
4, Ruwi 112, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.12.2011 |
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Com. Reg. No.: |
1/13104/3 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and distributor of security products, CCTV,
fire fighting equipment, alarm systems and ammunition |
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No. of Employees : |
07 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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.
However, increases in social welfare benefits, particularly since the Arab
Spring, will challenge the government's ability to effectively balance its
budget if oil revenues decline. 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. In 2012,
continued surpluses resulting from sustained high oil prices and increased
enhanced oil recovery allowed the government to maintain growth in social
subsidies and public sector job creation. However, the Sultan made widely
reported statements indicating this would not be sustainable, and called for expanded
efforts to support SME development and entrepreneurship. Government agencies
and large oligarchic group companies heeded his call, announcing new
initiatives to spin off non-essential functions to entrepreneurs, incubate new
businesses, train and mentor up and coming business people, and provide
financing for start-ups. In response to fast growth in household indebtedness,
the Central Bank reduced the ceiling on personal interest loans from 8 to 7%,
lowered mortgage rates, capped the percentage of consumer loans at 50% of
borrower's salaries for personal loans and 60% for housing loans, and limited
maximum repayment terms to 10 and 25 years respectively. In 2012 the Central
Bank also issued final regulations governing Islamic banking and two full-fledged
Islamic banks held oversubscribed IPOs while four traditional banks opened
sharia-compliant Islamic windows.
|
Source : CIA |
Company Name : MSA GLOBAL LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st December 2011
Commercial Registration Number : 1/13104/3
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 7
Activities : Distributors of security products, CCTV, fire fighting equipment, alarm
systems and ammunition
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MSA GLOBAL LLC
Registered &
Physical Address
Location : Way No. 3109 Block No 131, Building
No. 471
PO Box : 4, Ruwi 112
Town : Muscat
Country : Oman
Telephone : (968) 24591263
Facsimile : (968) 24591263
Mobile : (968) 94101210 / 99257731
Email : info@msaglobal.net / msa.gcpl@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Muscat.
Name Nationality Position
·
Col. M
S Atwal Indian Managing
Director
·
Aman
Awtal Indian Director
·
Nabil
Shaban Omani Director
Date of Establishment : 1st
December 2011
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/13104/3
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder
(s)
·
Col. M
S Atwal
·
Aman
Awtal
·
Nabil
Shaban
Activities: Engaged in the import and distribution of
security products, CCTV, fire fighting equipment, alarm
systems and ammunition.
Import
Countries: Europe and the
United States of America.
International
Suppliers:
·
Oshkosh
Co United States of America
·
Flir United States of
America
Subject has a
workforce of 7 employees.
Financial highlights
provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year
Ending 31/12/12:
Total Revenue RO
825,000
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
|
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 |
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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 |
|
<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.