MIRA
INFORM REPORT
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Report Date : |
16.09.2014 |
IDENTIFICATION DETAILS
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Name : |
UNITED COMMERCIAL LEADERSHIP LLC |
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Registered Office : |
Wadi Kabir, 130, Azaiba 130, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.08.2012 |
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Com. Reg. No.: |
1/15184/8 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in the import and distribution of building materials and
electrical products. |
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No. of Employees : |
5 |
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 : |
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 01, 2014
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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 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 |
SUMMARY
Company Name : UNITED COMMERCIAL LEADERSHIP LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
1st August 2012
Commercial Registration Number :
1/15184/8
Issued Capital :
RO 150,000
Paid up Capital :
RO 150,000
Total Workforce :
5
Activities :
Distributors of building materials and electrical products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
Tolsidaz Pillai, General Manager
COMPANY NAME
UNITED COMMERCIAL LEADERSHIP LLC
ADDRESS
Registered & Physical Address
Location : Wadi Kabir
PO Box : 130, Azaiba
130
Town : Muscat
Country : Oman
Telephone : (968) 2487364
Facsimile : (968) 2487364
Mobile : (968)
99106720 / 99657599
Email : td_pillai@yahoo.in
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Muscat.
KEY PRINCIPALS
Name Nationality Position
· Khalid Ali Al
Derai Omani Managing
Director
· Sayed Al Hashimi Omani Director
· Tolsidaz Pillai - General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1st
August 2012
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/15184/8
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
· Khalid Ali Al
Derai
· Sayed Al Hashimi
OPERATIONS
Activities: Engaged in the import and distribution of building materials and
electrical products.
Import Countries: Europe and the Far East
Subject has a workforce of 5 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/13:
Total Sales RO
685,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
· Commercial Bank of Oman SAOG
Muttrah
Business District
PO Box:
1696, Ruwi 112
Muscat
Tel:
(968) 24793225 / 24793226 / 24793228
Fax:
(968) 24793229
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
According to local sources, subject enjoys a good reputation for the quality
of its products with nothing detrimental uncovered regarding the manner in
which operations are conducted. 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 |
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US Dollar |
1 |
Rs.60.99 |
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1 |
Rs.99.09 |
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Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
PDT |
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.