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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ROYAL TRUST
TRADING |
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Registered Office : |
Wakra Area 117, P
O Box 980, Muscat 114 |
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Country : |
Oman |
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Date of Incorporation : |
11.10.2011 |
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Com. Reg. No.: |
1/12408/3 |
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Legal Form : |
Sole Proprietorship |
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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 : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 |
Concern Name : ROYAL TRUST TRADING
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 11th October 2011
Commercial Registration Number : 1/12408/3
Chamber Membership Number : 73432
Invested Capital : RO 5,000
Total Workforce : 2
Activities : General trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ROYAL TRUST TRADING
Registered &
Physical Address
Location : Wakra Area 117
PO Box : 980
Town : Muscat 114
Country : Oman
Mobile : (968) 93336638
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Muscat.
Name Position
·
Mohamed
Saif Al Mawali Proprietor
& General Manager
Date of Establishment : 11th
October 2011
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1/12408/3
Chamber Member No. : 73432
Invested Capital
: RO 5,000
Mr. Mohamed Saif Al
Mawali is the sole proprietor of the business.
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 concern or submitted by outside
sources.
·
Oman
Arab Bank
Al Khuwair Branch
PO Box: 5010, Ruwi
Muscat
Tel: (968) 24603520
Fax: (968) 24602948
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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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.