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Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL NABTAH TRADING & CONTRACTING 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 : |
21.07.1998 |
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Com. Reg. No.: |
2/14113/2 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in the import and distribution of marble, granite and building
materials |
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No. of Employees |
17 |
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 – June 1, 2014
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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 |
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 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 |
SUMMARY
Company Name : AL NABTAH TRADING & CONTRACTING CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 21st July 1998
Commercial Registration Number : 2/14113/2
Chamber Membership Number : 888
Issued Capital : RO 50,000
Paid up Capital : RO 50,000
Total Workforce : 17
Activities : Distributors of marble, granite and building materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Vinoj Govindan, Finance Manager
COMPANY NAME
AL NABTAH TRADING & CONTRACTING CO LLC
ADDRESS
Registered & Physical Address
Street :
Area :
New Salalah Area
PO Box :
2062
Town :
Salalah 211
Country :
Sultanate of Oman
Telephone :
(968) 23202048 / 23235558
Facsimile :
(968) 23298516
Mobile : (968) 99490342 / 99291516 / 96017188
Email : stephangalasni@hotmail.com
/ alnabthaa@yahoo.co.in
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Salalah.
Branch Offices
Location Description
· Nizwa Showroom
premises
Tel: (968)
25432235
· Izki Showroom
premises
Tel: (968)
25340456
KEY PRINCIPALS
Name Nationality Position
· Stephan Galastin Indian Managing
Director
· Salem Ali Abdul Nabi Al Sulaimi Omani Director
· Vinoj Govindan - Finance
Manager
· T M Sageer - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 21st
July 1998
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 2/14113/2
Chamber Member No. : 888
Issued Capital : RO 50,000
Paid up Capital : RO 50,000
Name of Shareholder (s)
· Stephan Galastin
· Salem Ali Abdul Nabi Al Sulaimi
OPERATIONS
Activities: Engaged in the import and distribution of marble, granite and building
materials.
Import Countries: India, Malaysia and China.
International
Suppliers:
· Rina Granite India
· Jebren Malaysia
· Fujian Granite China
Operating Trend: Steady
Subject has a workforce of 17 employees.
FINANCIAL DATA
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
790,000 RO
850,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Vinoj Govindan, Finance Manager
BANKERS
·
National Bank of Oman Limited (SAOG)
Hafa Branch
PO Box: 824
Salalah 211
Tel: (968) 23291952
Fax: (968) 23290066
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1998, subject is involved in the import and distribution of
marble, granite and building materials.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.12 |
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1 |
Rs.103.54 |
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Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIS |
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 |
-- |
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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.