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Report No. : |
319729 |
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Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AL BHAJ TRADING LLC |
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Registered Office : |
Complex No. 147, Building No. 747, Way No 4811, Dar Sit, PO Box No. 931, Wadi Kabir 117, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.12.1999 |
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Com. Reg. No.: |
1/52121/7 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in
the wholesale and retail of novelty items, toys and books. |
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No. of Employees : |
6 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 heavily dependent on dwindling oil resources, which generates 77% of government revenue. It is using enhanced oil recovery techniques to boost production. 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 from 46% to 9% by 2020. Muscat also is focused on 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, have challenged the government's ability to effectively balance its budget as oil prices decline. Despite government acknowledgement that Oman’s expansive social welfare benefits are unsustainable, Oman authorities are comfortable with short-term budget deficits and have approved an expansionary 2015 budget. Concurrently, Oman has expanded efforts to support the development of small and medium-size enterprises and entrepreneurship. Government agencies and large oligarchic group companies have announced 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.
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Source
: CIA |
Company Name : AL BHAJ TRADING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st December 1999
Commercial Registration Number : 1/52121/7
Chamber Membership Number : 5506
Issued Capital : RO 50,000
Paid up Capital : RO 50,000
Total Workforce : 6
Activities : Wholesale and retail of novelty items, toys and books.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : M P Shoukat Ali, General Manager
AL BHAJ TRADING LLC
Location : Complex No. 147, Building No. 747, Way No
4811, Dar Sit
PO Box : 931, Wadi Kabir 117
Town : Muscat
Country : Oman
Telephone : (968) 24799736
Facsimile : (968) 24799736
Mobile : (968) 99371242 / 99243762 /
92369485
Email : albhaj@omantel.net.om
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Muscat.
Name Position
·
Habib Ibrahim Sulaiman Al Blooshi Managing
Director
·
Mohsin Ibrahim Sulaiman Al Blooshi Director
·
M P Shoukat Ali General
Manager
·
Mohamed
Riyaz Sales
Manager
·
Mohamed
Ishaaq Sales
Executive
Date of Establishment : 1st
December 1999
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/52121/7
Chamber Member No. : 5506
Issued Capital : RO 50,000
Paid up Capital : RO 50,000
·
Habib Ibrahim Sulaiman Al Blooshi
·
Mohsin Ibrahim Sulaiman Al Blooshi
Activities: Engaged in the wholesale and retail of novelty items,
toys and books.
Import
Countries: India and the United Arab Emirates
International
Suppliers:
·
NCBA
Sports Pvt Ltd India
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Dreamland Publication India
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Alka Publication India
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National
Toys & Gifts United Arab
Emirates
·
Wide
Road Co United Arab
Emirates
·
Al
Fahidi Stationery United Arab
Emirates
Brand Names: GLOBAL and CAMEL
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales RO 595,000 RO 650,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr M P Shoukat Ali, General Manager
·
Bank
Muscat SAOG
Ruwi Main Branch
PO Box: 6326
Muscat
Tel: (968) 24561399 / 24708543
Fax: (968) 24561036
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 |
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US Dollar |
1 |
Rs.63.20 |
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1 |
Rs.97.10 |
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Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
VNT |
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.