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Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL HABIB & CO LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
08.04.1982 |
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Com. Reg. No.: |
1/13157/5 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in property leasing and management services, property development, civil and electro mechanical contracting, property valuation, brokerage and interior decoration. |
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No of Employees : |
1,000 |
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 : |
Good |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Oman |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company Name : AL HABIB & CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 8th April 1982
Commercial Registration Number : 1/13157/5
Membership Number : 1356
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 1,000
Activities : Property leasing and management services, property development, civil
and electro mechanical contracting, property valuation, brokerage and
interior decoration
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL HABIB & CO
LLC
Building : International Medical Center, 3rd
Floor, Office No. 303
Area : Ruwi
PO Box : 2663
Town : Muscat
Country : Oman
Telephone : (968) 24700247
Facsimile : (968) 24703666
Email : msreddy@alhabib.om
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Muscat.
Name Position
·
Ali
Malaullah Al Habib Managing
Director
·
Ali
Jaafar Director
·
M
Sudhakar Reddy General
Manager
·
Mahdi
Zaidi Administration
Manager
·
Ali
Shihab Brokerage
Manager
·
Hassan
Adnan Valuation
Manager
·
Vijay
Kumar Civil
and Electro Mechanical Manager
Date of Establishment : 8th
April 1982
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/13157/5
Membership
No. : 1356
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
·
Ali
Malaullah Al Habib
·
Ali
Jaafar
Activities: Engaged in property leasing and management
services, property development, civil and electro
mechanical contracting, property
valuation, brokerage and interior decoration.
Clients:
·
Ministry
of Defence pension fund
·
PDO
pension fund
·
Civil
service employee’s pension fund
·
Internal
security service pension fund
·
Royal
Oman Police pension fund
·
Ministry
of Justice
·
Bank
Muscat
·
Bank
Muscat
·
Bank
Dhofar
·
National
Bank of Oman
Operating Trend: Steady
Subject has a
workforce of approximately 1,000 employees.
Financial
highlights provided by local sources are given below:
Currency: United
States Dollars (US$)
Year Ending 31/12/13:
Total Sales US$
60,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Muscat
Al Burj Street
Greater Muttrah
PO Box: 6326, Ruwi
Muscat
Tel: (968) 24701769
Fax: (968) 24796488
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. 61.33 |
|
|
1 |
Rs. 103.43 |
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Euro |
1 |
Rs. 81.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.