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Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AL AHLIA
CONVERTING INDUSTRIES CO SAOC |
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Registered Office : |
Oman Qatar Insurance
Building, Central Business District, Azaiba Area, P O Box 262, Azaiba 130,
Muscat |
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Country : |
Oman |
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Date of Incorporation : |
06.04.1997 |
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Com. Reg. No.: |
1/55228/7 |
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Legal Form : |
Omani Closed Joint Stock Company |
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Line of Business : |
Engaged in the
process of converting tissue, films and aluminium products. |
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No of Employees : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
Company Name : AL AHLIA CONVERTING INDUSTRIES CO SAOC
Country of Origin : Oman
Legal Form : Omani Closed Joint Stock Company
Registration Date : 6th April 1997
Commercial Registration Number : 1/55228/7
Issued Capital : RO 500,000
Paid up Capital : RO 500,000
Total Workforce : 75
Activities : Process of converting tissue, films and aluminium products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Nasser Al Hadi, Public Relations Officer
AL AHLIA CONVERTING INDUSTRIES CO SAOC
Registered &
Physical Address
Building :
Area : Central Business District, Azaiba
Area
PO Box : 262, Azaiba 130
Town : Muscat
Country : Sultanate of
Telephone : (968) 24789450 / 24789451 / 24789452
/ 24590185 / 24591176
Facsimile : (968) 24789453 / 24592363
Mobile : (968) 96533931 / 96180342 /
97200954
Email : info@alahliac.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
Branch Office (s)
Location Description
·
Sohar
Industrial Area Factory
premises
Name Position
·
Ali
Malullah Habib Al Lawati Chairman
·
Mohamed
Ali Hassan Al Lawati Managing
Director
·
Hassan
Sadiq Abowani Director
·
Burair
Mohamed Ali Al Lawati Director
·
Pankaj
Gupta General
Manager
·
Furkhan
Hussain Financial
Manager
·
Anan
Krishnan Factory
Manager
·
Nasser
Al Hadi Public
Relations Officer
Date of Establishment : 6th
April 1997
Legal Form :
Omani Closed Joint Stock
Company
Commercial Reg. No. : 1/55228/7
Issued Capital : RO 500,000
Paid up Capital : RO 500,000
Name of Shareholder
(s)
· Ali Malullah Habib Al Lawati
Mohamed
Ali Hassan Al Lawati
Hassan
Sadiq Abowani
Burair
Mohamed Ali Al Lawati
Local
businessmen and private investors
Activities: Engaged in the process of converting
tissue, films and aluminium products.
Import
Countries: Europe and the
Far East
Export
Countries: United Arab
Emirates, Kuwait, Qatar and Pakistan.
Subject has a workforce
of 75 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.
·
Oman
Arab Bank
Muttrah Business District
PO Box: 2010, Ruwi 112
Muscat
Tel: (968) 24700161 / 24706265
/ 24706267
Fax:
(968) 24797736
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 |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.