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Report No. : |
308541 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
GAZAL AL KHADARA TRADING COMPANY |
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Registered Office : |
Al Batinah Area, Suwaiq 315, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
20.04.1992 |
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Com. Reg. No.: |
3/10600/4 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of general dried foodstuff
including rice, lentils, spices and pulses. |
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No. of Employees : |
100 |
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
|
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 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 |
Company Name :
GAZAL AL KHADARA TRADING COMPANY
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
20th April 1992
Commercial Registration Number :
3/10600/4
Chamber Membership Number : 472
Issued Capital :
RO 55,000
Paid up Capital :
RO 55,000
Total Workforce :
100
Activities :
Distributors of general dried foodstuffs.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Shamim Mohamed, Sales
Manager
COMPANY NAME
GAZAL AL KHADARA TRADING COMPANY
Registered &
Physical Address
Location : Al Batinah Area,
Suwaiq 315
PO Box : 489
Town : Al Batinah
Country :
Telephone : (968) 26812294
/ 26712294
Facsimile : (968) 26713021
Mobile : (968)
99355318 / 99380005 / 98088511
Email : gazal999@omantel.net.om
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Al Batinah.
Name Nationality Position
Saleem Prakoot Baba Indian Managing
Director
Haslin Prakoot Saleem Indian Director
Abdullah Rashid Al Awadi Omani Director
Arshad Hussain - Financial
Controller
Shamim Mohamed - Sales
Manager
Date of Establishment : 20th
April 1992
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 3/10600/4
Chamber Member No. : 472
Issued Capital : RO 55,000
Paid up Capital : RO 55,000
Name of
Shareholder (s) Percentage
Abdullah Rashid Al Awadi 51%
Saleem Prakoot Baba ]
]
49%
Haslin Prakoot Saleem ]
Activities: Engaged in the import and distribution of general dried foodstuff
including rice, lentils, spices and pulses.
Import Countries: Europe and India.
International
Suppliers:
Ameen Exporter India
B T Export Ltd India
Nagawat Export India
Operating Trend: Steady
Subject has a workforce of 100 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
1,000,000 RO
1,200,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr. Shamim Mohamed, Sales Manager
National Bank of Oman Limited (SAOG)
Seeb International Airport
PO Box: 11, Seeb 111
Muscat
Tel: (968) 24510007 / 24510543 / 24519626
Fax: (968) 24519806
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.25 |
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1 |
Rs.95.57 |
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Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
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.