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Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
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Name : |
OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC |
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Registered Office : |
Raysut Industrial Area PO Box 2875
Salalah 211 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.03.1998 |
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Com. Reg. No.: |
2/13799/2 |
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Legal Form : |
Omani Closed Joint Stock Company |
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Line of Business : |
Engaged in the manufacture of animal feeds and the purchase and sale
of livestock |
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No. of Employees : |
50 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 : OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC
Country of Origin : Oman
Legal Form : Omani Closed Joint Stock Company
Registration Date : 14th March 1998
Commercial Registration Number : 2/13799/2
Authorised Capital : RO 15,000,000
Issued Capital : RO 6,558,217
Paid up Capital : RO 6,558,217
Total Workforce : 50
Activities : Manufacturers of animal feeds and the purchase and sale of livestock.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Salem Al Ayweda, Financial Manager
OMANI NATIONAL LIVESTOCK DEVELOPMENT SAOC
Location : Raysut Industrial Area
PO Box : 2875
Town : Salalah 211
Country : Oman
Telephone : (968) 23219101
/ 23219435 / 23219437
Facsimile : (968) 23219575
/ 23299237 / 23219438
Mobile : (968)
95820542 / 99493009
Email : info@onld.om
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Salalah.
Name Position
· Mohamed Jawad Hassan Chairman
· Ahmed Salim Ali Al Mashani Vice
Chairman
· Dr Abdullah Bin Zaher Al Henai Director
· Ahmed Saeed Qatn Director
· Yacoub Bin Saeed Al Qasrafi Director
· Aubad Salim Ali Ghawas Director
· Abdullah Ahmed Milat Al Mahri Director
· P R Venkitrayan General
Manager
· Faisal Rashed Jaber Al Yafi Assistant
General Manager
· Mohamed Ahmed Noor Internal
Auditor
· Ahmed Masood Commercial
Manager
· Mohamed Salem Al
Ayweda Financial
Manager
· Ahmed Ali Al Barami Purchasing
Manager
Date of Establishment : 14th March 1998
History : Subject was
originally an Omani Public Joint Stock Company but became an Omani Closed Joint
Stock Company in 2009.
Legal Form : Omani Closed Joint
Stock Company
Commercial Reg.
No. : 2/13799/2
Authorised Capital : RO 15,000,000
Issued Capital : RO 6,558,217
Paid up Capital : RO 6,558,217
· Government of Oman 59.20%
· Omani farmers 40.80%
Activities: Engaged in the manufacture of animal feeds and the purchase and sale of
livestock. Subject plans to establish a dairy processing plant based on
milk collection from farmers, fattening and meat processing, vet
extension and development services projects.
Import Countries: Europe and India.
International
Suppliers:
· Jai International Pvt Ltd India
Export Countries: Yemen and Somalia
Subject has a workforce of 50 employees.
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales RO
7,012,000 RO
7,370,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed Salem Al Ayweda, Financial
Manager
·
Bank of Muscat
Al Nadha
Street
PO Box:
18537
Salalah
Tel:
(968) 23290244
Fax:
(968) 23292309
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.25 |
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|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
-- |
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.