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Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL
MARBLE COMPANY LLC (IMC) |
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|
|
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Registered Office : |
Oman United
Insurance Building, 2nd Floor, Darsait 1079, Muscat 112 |
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Country : |
Oman |
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Date of Incorporation : |
01.04.1998 |
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Com. Reg. No.: |
1/59040/5 |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Engaged in the
quarrying, processing, cutting, and finishing of
marble. |
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No. of Employees |
150 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 :
INTERNATIONAL MARBLE COMPANY LLC (IMC)
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 1st
April 1998
Commercial
Registration Number : 1/59040/5
Chamber Membership
Number : 1076
Issued Capital : RO
500,000
Paid up Capital : RO
500,000
Total Workforce : 150
Activities :
Quarrying, processing, cutting, and finishing of
marble.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : G Moto, Senior
Accountant
INTERNATIONAL
MARBLE COMPANY LLC (IMC)
Building : Oman United Insurance Building, 2nd
Floor
Area : Darsait
PO Box : 1079
Town : Muscat 112
Country : Oman
Telephone : (968) 24797122
Facsimile : (968) 24797133
Email : imcoman@omantel.net.om / info@intmarbleco.com
/ accounts@intmarbleco.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
Branch Office
(s)
Location Description
·
Al
Areedh Factory
premises
Ibri
Tel: (968) 25605330 / 25605332
Fax: (968) 25605331
Name Position
·
Ali Bin Hamed Al Kalbani Managing
Director
·
Ahmed Bin Hamed Al Kalbani Director
·
Khalid Bin Hamed Al Kalbani Director
·
Hussain
Ali Bin Hamed Al Kalbani General
Manager
·
Vijandharan
Mahnot Accounts
Manager
·
G Moto Senior
Accountant
·
Dinker
Hoskot Marketing
Manager
Date of Establishment : 1st
April 1998
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/59040/5
Chamber Member No. : 1076
Issued Capital : RO 500,000
Paid up Capital : RO 500,000
·
Ali Bin Hamed Al Kalbani
·
Ahmed Bin Hamed Al Kalbani
·
Khalid Bin Hamed Al Kalbani
Activities: Engaged in the quarrying, processing, cutting, and finishing of marble.
Subject is ISO
9001 certified.
Production Capacity: 8,000 square metres per day
Import
Countries: Italy, India,
United States of America and Japan
Export
Countries: GCC countries
and Africa.
Brand Names: DESERT ROSE and
DESERT OASIS
Subject has a
workforce of 150 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.
·
Commercial Bank of Oman SAOG
Muttrah Business District
PO Box: 1696
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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
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.