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Report No. : |
336388 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL FOODS PRODUCTS & TRADING CO LLC |
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Registered Office : |
Road No. 7, Rusayl Industrial Estate, PO Box: 334, Muscat 124 |
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Country : |
Oman |
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Date of Incorporation : |
01.01.1996 |
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Com. Reg. No.: |
1/52589/1 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the production and marketing of general
foodstuffs and dairy products |
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No. of Employee : |
250 |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 :
NATIONAL FOODS PRODUCTS & TRADING CO LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
1st January 1996
Commercial Registration Number :
1/52589/1
Issued Capital :
RO 250,000
Paid up Capital :
RO 250,000
Total Workforce :
250
Activities :
Production and marketing of general foodstuffs and dairy products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Jacoub Abraham, Finance Manager
NATIONAL FOODS
PRODUCTS & TRADING CO LLC
Street : Road No. 7
Area : Rusayl
Industrial Estate
PO Box : 334
Town : Muscat 124
Country : Oman
Telephone : (968) 24501160
/ 24505954
Facsimile : (968) 24446943
/ 24501180
Mobile : (968)
94463700
Email : nfp.oman@nfpe.net
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Muscat.
Name Nationality Position
· Fadi Gergis Lebanese Managing
Director
· Farj Ali Bin
Hamoudah Emirati Director
· Mohamed Harullah - General
Manager
· Jacoub Abraham - Finance
Manager
Date of
Establishment : 1st
January 1996
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/52589/1
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
· Fadi Gergis
· Farj Ali Bin
Hamoudah
· National Food
Products LLC
Abu Dhabi
United Arab
Emirates
Activities: Engaged in the production and marketing of general foodstuffs and dairy
products.
Operating Trend: Steady
Subject has a workforce of approximately 250 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
22,900,000 RO
25,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Jacoub Abraham, Finance Manager
· 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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.64.92 |
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|
1 |
Rs.101.44 |
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Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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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 |
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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.