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Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
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Name : |
PANORAMA INTERNATIONAL LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
04.07.2010 |
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Com. Reg. No.: |
1/09120/1 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Providers of web site design and development, graphic design, web based application and online marketing
services. |
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No of Employees : |
10 |
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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Maximum Credit Limit : |
US$ 125,000 |
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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
|
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 - 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 : PANORAMA INTERNATIONAL LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
4th July 2010
Commercial Registration Number :
1/09120/1
Chamber Membership Number :
12544
Issued Capital :
RO 100,000
Paid up Capital :
RO 100,000
Total Workforce :
10
Activities :
Providers of web site design and development, graphic design, web based application and online marketing
services.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 125,000
Person Interviewed :
Omar Nasser Saif Salaimani, Managing Director
PANORAMA INTERNATIONAL LLC
Registered & Physical Address
Street : Main Street
Area : North
Ghobrah Area
PO Box : 437
Town : Al Khuwair
133
Country : Oman
Telephone : (968) 24596395
Facsimile : (968) 24486491
Mobile : (968) 99781681 / 98292949
Email : support@panoratech.com
Please note that subject’s previous address was, Office No. 53, Bait
Jarzez, Al Marafeh, Muscat 117.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Muscat.
Name Nationality Position
Omar Nasser Saif Salaimani Omani Managing
Director
Huda Abdul Shaheed Al Lawati Omani Director
Mohamed Zuhair Iqbal Pakistani General
Manager
Iqbal Hussain Pakistani Assistant
General Manager
Date of Establishment : 4th
July 2010
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 1/09120/1
Chamber Member No. : 12544
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder (s)
Omar Nasser Saif Salaimani
Huda Abdul Shaheed Al Lawati
Activities: Engaged in the provision of web site design and development, graphic
design, web based application and online marketing services.
Subject has a workforce of 10 employees.
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/13:
Total Sales RO
600,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Omar Nasser Saif Salaimani,
Managing Director
Bank of Muscat
Al Khuwair Street
PO Box: 6326, Ruwi
Muscat
Tel: (968) 24602274
Fax: (968) 24698300
No complaints regarding subject’s payments have been reported.
Recommended credit limit: US$
125,000
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.
This report is produced in accordance
with and subject to the terms of an agreement between Arab Research &
Information Company Ltd (Aric Ltd) and the customer and contains unconfirmed
information compiled from third parties. Any reproduction or republication of
this report without Aric Ltd’s express written consent is prohibited. Aric Ltd
disclaims all warranties, expressed or implied, with respect to the accuracy or
reliability of the report or its fitness for any purpose.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
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1 |
Rs.101.84 |
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Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
SHG |
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.