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Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Commercial Area, 725, Ruwi 112, |
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Country : |
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Date of Incorporation : |
31.05.2009 |
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Com. Reg. No.: |
1/06843/1 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the provision of industrial cleaning, packed meal services, production of Indian breads, laundry services, remote site management and cafeteria services |
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No of Employees : |
150 |
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 – 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 :
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 31st May 2009
Commercial Registration Number : 1/06843/1
Membership Number : 2451
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 150
Activities : Providers of industrial cleaning, packed meal services, production of Indian breads, laundry services, remote site management and cafeteria services.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL NABA SUPPLIES
AND CATERING SERVICES LLC
Location : Commercial Area
PO Box : 725, Ruwi 112
Town : Muscat
Country : Oman
Telephone : (968) 24629995 / 24629996 / 24629997
Facsimile : (968) 24629987 / 24629968 / 24629969
Email : enquiry@alnabacatering.com
Please note that
the correct PO Box number is 725 and not 275.
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Muscat.
Name Position
·
Sayyid
Khalid Bin Saif Al Busaidy Managing
Director
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Fatima
Khalid Bint Saif Al Busaidy Director
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Meera
Khalid Bint Saif Al Busaidy Director
Date of Establishment : 31st
May 2009
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/06843/1
Membership
No. : 2451
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
·
Sayyid
Khalid Bin Saif Al Busaidy
·
Fatima
Khalid Bint Saif Al Busaidy
·
Meera Khalid
Bint Saif Al Busaidy
·
Al Naba
Holding LLC
PO Box: 725
Muscat
Tel: (968) 2469995
Fax: (968) 24629987
·
Al Naba
Services LLC
PO Box: 725
Muscat
Tel: (968) 2469995
Fax: (968) 24629987
·
Al Naba
Equipment & Supplies LLC
PO Box: 725
Muscat
Tel: (968) 2469995
Fax: (968) 24629987
·
Al Naba
Infrastructure LLC
PO Box: 725
Muscat
Tel: (968) 2469995
Fax: (968) 24629987
Activities: Engaged in the provision of industrial
cleaning, packed meal services, production of Indian breads, laundry services,
remote site management and cafeteria services.
Subject has a
workforce of 150 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.
·
Commercial Bank of Oman SAOG
Rami Plaza
PO Box: 4696
Muscat
Tel: (968) 24793220
Fax: (968) 24793229
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 |
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US Dollar |
1 |
Rs. 59.72 |
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1 |
Rs. 102.35 |
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Euro |
1 |
Rs. 81.38 |
INFORMATION DETAILS
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Analysis Done by
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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 |
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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.