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Report No. : |
335824 |
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Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
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Name : |
AL MULADDHA TRADING CO LLC |
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Registered Office : |
Corniche Street, Muttrah Souk, PO Box :
107, Muttrah 114 |
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Country : |
Oman |
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Date of Incorporation : |
11.10.2003 |
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Com. Reg. No.: |
1/73761/9 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the import and distribution of general
foodstuffs, canned foods and consumer goods. |
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No. of Employee : |
12 |
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 – 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 :
AL MULADDHA TRADING CO LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
11th October 2003
Commercial Registration Number :
1/73761/9
Chamber Membership Number :
4679/1
Issued Capital :
RO 150,000
Paid up Capital :
RO 150,000
Total Workforce :
12
Activities :
Distributors of general foodstuffs, canned foods and consumer goods
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Dr Shaialesh S Toprani, Managing Director
AL MULADDHA
TRADING CO LLC
Street : Corniche
Street
Area : Muttrah Souk
PO Box : 107
Town : Muttrah 114
Country : Oman
Telephone : (968) 24714271
Facsimile : (968) 24714371
/ 24714272
Mobile : (968) 99319280
/ 99373488
Email : svirji@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 Muttrah.
Name Nationality Position
· Dr Shaialesh S
Toprani Indian Managing
Director
· Bhavana Toprani Indian Director
· Dhara Shaialesh Indian Director
· Kruti Shaialesh Indian Director
· Mohamed Saif Bin
Khalfan Al Henai Omani Director
· Luck Patel - Accountant
· Suresh Cheg - Sales
Executive
Date of
Establishment : 11th
October 2003
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/73761/9
Chamber Member No. : 4679/1
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
· Mohamed Saif Bin
Khalfan Al Henai 51%
· Dr Shaialesh S
Toprani ]
]
· Bhavana Toprani ]
] 49%
· Dhara Shaialesh ]
]
· Kruti Shaialesh ]
Activities: Engaged in the import and distribution of general foodstuffs, canned
foods and consumer goods.
Import Countries: Europe and the Far East
International
Suppliers:
· Sadhu Rice Mill India
· Veer Overseas India
Brand Names: DACTUR, ALSAMI
and ALMULADDHA
Operating Trend: Steady
Subject has a workforce of 12 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 1,750,000 RO 1,935,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Dr Shaialesh S Toprani, Managing
Director
·
Bank of Muscat
Al
Khuwair Street
PO Box:
6326, Ruwi
Muscat
Tel:
(968) 24602274
Fax:
(968) 24698300
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.63.81 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
|
<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.