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Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
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Name : |
AL SHABIBI GLOBAL LLC |
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Registered Office : |
Commercial Area, 1031, Seeb 111 |
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Country : |
Oman |
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Date of Incorporation : |
05.03.2008 |
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Com. Reg. No.: |
1/04077/0 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject holds a general trade licence, enabling it to distribute general merchandise |
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No of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 SHABIBI GLOBAL LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 5th March 2008
Commercial Registration Number : 1/04077/0
Membership Number : 13873
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Total Workforce : 2
Activities : General trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL SHABIBI GLOBAL
LLC
Location : Commercial Area
PO Box : 1031
Town : Seeb 111
Country : Oman
Mobile : (968) 99212372
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Seeb.
Name Position
·
Ahmed
Hamoud Ahmed Al Shabibi Managing
Director
·
Zahraa
Seed Fadal Al Wadah Director
Date of Establishment : 5th
March 2008
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/04077/0
Membership
No. : 13873
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
·
Ahmed Hamoud
Ahmed Al Shabibi
·
Zahraa
Seed Fadal Al Wadah
Activities: Subject holds a general trade licence,
enabling it to distribute general merchandise.
Subject has a
workforce of 2 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.
·
National
Bank of Oman Limited (SAOG)
Seeb International Airport
PO Box: 11
Seeb 111
Tel: (968) 24510007
Fax: (968) 24519806
No complaints
regarding subject’s payments have been reported.
Please note that we
were unable to contact the subject directly during our investigation.
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. 60.13 |
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|
1 |
Rs. 102.83 |
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Euro |
1 |
Rs. 82.28 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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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 |
|
<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.