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Report No. : |
334831 |
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Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
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Name : |
NEW ROTANA
ENTERPRISES LLC |
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Registered Office : |
Barkah Street, Ajaba Area, P O Box: 1940 & 1465, Azaiba 130, Muscat |
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Country : |
Oman |
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Date of Incorporation : |
19.01.2008 |
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Com. Reg. No.: |
1/03481/8 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is
engaged as electromechanical contractors, as well as distributors of
construction equipment. |
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No. of Employees : |
43 |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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.
|
Source
: CIA |
Company Name : NEW ROTANA
ENTERPRISES LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 19th
January 2008
Commercial
Registration Number : 1/03481/8
Issued Capital : RO
750,000
Paid up Capital : RO
750,000
Total Workforce : 43
Activities :
Electromechanical contractors, as well as distributors of construction
equipment
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
NEW ROTANA
ENTERPRISES LLC
Street : Barkah Street
Area : Ajaba Area
PO Box : 1940 & 1465,
Azaiba 130
Town : Muscat
Country : Oman
Telephone : (968) 22001300
Facsimile : (968) 22001301
Mobile : (968) 99345740
Email : newrotana@omantel.net.om
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
Name Nationality Position
·
Kizhakketveettil
Thomas Alexander Indian Managing Director
·
Yousef
Ahmed Ali Al Baloushi Omani Director
·
Joseph
Taman - General
Manager
·
V
Pardathapan - Finance
Manager
Date of Establishment : 19th
January 2008
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/03481/8
Issued Capital : RO 750,000
Paid up Capital : RO 750,000
·
Kizhakketveettil
Thomas Alexander
·
Yousef
Ahmed Ali Al Baloushi
·
Al
Adrak Trading & Contracting Co
Muscat
Activities: Engaged as electromechanical contractors,
as well as distributors of construction equipment.
Subject has a
workforce of 43 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.
·
Commercial Bank of Oman SAOG
Muttrah Business District
PO Box: 1696, Ruwi 112
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
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.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.