|
Report Date : |
29.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
DESERT THUNDERS EST |
|
|
|
|
Registered Office : |
Rusayl Industrial Estate, Road No. 23, Factory |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.04.2000 |
|
|
|
|
Com. Reg. No.: |
1/64099/2 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of printing inks |
|
|
|
|
No. of Employees : |
12 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Source
: CIA |
Company Name : DESERT THUNDERS EST
Also Known As : TECHNO INX
Country of Origin : Oman
Legal Form : Sole Proprietorship
Start Date : 25th April 2000
Registration Date : 1st August 2009
Commercial Registration Number : 1/64099/2
Invested Capital : RO 100,000
Total Workforce : 12
Activities : Manufacture of printing inks.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Kartik Kayam, Factory Manager
DESERT THUNDERS EST
TECHNO
INX
Location : Rusayl
Industrial Estate, Road No. 23, Factory 214
PO Box : 111
Town : Rusayl 116
Country : Oman
Telephone : (968) 24449445
/ 24449446
Facsimile : (968) 24449447
Mobile : (968)
95251195 / 97653471
Email : technoinx@technoinx.net
/ karthi@technoinx.com
Subject operates from a small suite of offices and a factory that are
rented and located in the Industrial Area of Rusayl.
Name Position
· Rashid Bin Ahmed
Bin Rashid Al Hosni Proprietor
& General Manager
· Kartik Kayam Factory
Manager
· Varghese Thomas Financial
Controller
Date of
Establishment : 25th
April 2000, however subject was registered on 1st August 2009.
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 1/64099/2
Invested Capital : RO 100,000
Mr Rashid Bin Ahmed Bin Rashid is the sole proprietor of the business.
Activities: Engaged in the manufacture of printing inks.
Import Countries: India, China, Saudi Arabia and United Arab
Emirates.
International
Suppliers:
· ABC Chemical India
· Hanso Chemicals China
· Cytech Coating China
· Harith Al Afaq Trading United
Arab Emirates
· Kemsol United
Arab Emirates
· Waqas Chemicals Saudi
Arabia
Brand Names: TECHNOINX
Subject has a workforce of 12 employees.
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 3112/12: Year
Ending 31/12/13:
Total Sales RO
1,200,000 RO
1,385,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Kartik Kayam, Factory Manager
·
Bank Muscat SAOG
Ruwi Main Branch
PO Box:
6326
Muscat
112
Tel:
(968) 24561399 / 24708543
Fax:
(968) 24561036
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
|
|
1 |
Rs.98.98 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.