|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL TAQDEER Trdaing LLC |
|
|
|
|
Registered Office : |
Mazoun Complex, Ground Floor, Suite No.34-36 Al Wadi Al Kabir 117, P O
Box 350, Muscat |
|
|
|
|
Country : |
Oman |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
29.11.1989 |
|
|
|
|
Com. Reg. No.: |
1/28917/9 |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Wholesale and Retail of Textiles and Readymade Garments |
|
|
|
|
No. of Employees |
7 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. 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.
|
Source
: CIA |
Company Name : AL TAQDEER TRADING LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 29th
November 1989
Commercial
Registration Number : 1/28917/9
Chamber Membership
Number : 2474
Issued Capital : RO
150,000
Paid up Capital : RO
150,000
Total Workforce : 7
Activities :
Wholesale and retail of textiles and readymade garments
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Keshor Kumar Jayantilal Premchand, Director
AL TAQDEER TRADING
LLC
Building : Mazoun Complex, Ground Floor,
Suite No. 34-36
Area : Al Wadi Al Kabir 117
PO Box : 350
Town : Muscat
Country : Oman
Telephone : (968) 24833234 / 24704415 / 3500587
Facsimile : (968) 24833212 / 24703813
Mobile : (968) 99318974
Email : info@taqdeerfashion.com / taqdeer@omantel.net.om
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Muscat.
Branch Offices
Location Description
·
Al
Hashar Building Office
premises
Ruwi
Muscat
Tel: (968) 24833234
Name Nationality Position
·
Anil
Kumar Jayantilal Wadher Indian Managing Director
·
Keshor
Kumar Jayantilal Premchand Indian Director
·
Gurnani
Khubo Mangharan Indian Director
·
Keshor
Mangharan Gurnani Indian Director
·
Abdul
Hussain Bin Ragab Naghbash Al Zajali Omani Director
·
Ghulam
Mohideen - Financial
Manager
Date of Establishment : 29th
November 1989
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/28917/9
Chamber Member No. : 2474
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
·
Anil
Kumar Jayantilal Wadher
·
Keshor
Kumar Jayantilal Premchand
·
Gurnani
Khubo Mangharan
·
Keshor
Mangharan Gurnani
·
Abdul Hussain
Bin Ragab Naghbash Al Zajali
·
Al
Taqdeer Fashion LLC
Muscat
Tel: (968) 24704415
·
Silk
House
Muscat
Tel: (968) 24704415
·
Al
Taqdeer Fashion LLC
Dubai
United Arab Emirates
Tel: (971-4) 3534361
Fax: (971-4) 3530587
Activities: Engaged in the wholesale and retail of
textiles and readymade garments.
Import
Countries: China, Taiwan
and India
Brand Names: ASCOTT, BLUESTONE and BOSS
Operating Trend: Steady
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: Year Ending 31/12/13:
Total Sales RO 1,200,000 RO 1,300,000
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.