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Report No. : |
302660.2 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
WAHED AL QRAN
TRADING |
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Registered Office : |
Salaha Area, Barka, P O Box: 671, Muscat 132 |
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Country : |
Oman |
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Date of Incorporation : |
07.09.2005 |
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Com. Reg. No.: |
1/80250/0 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Contracting Division Engage as building construction and maintenance contractors. ·
Agricultural Division Engaged in the
import and distribution of agricultural products, greenhouses, chemicals,
machinery, fertilizers and seeds for flowers and vegetables. |
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No. of Employees : |
15 Employees |
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) |
|
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 : WAHED AL
QRAN TRADING
Country of Origin : Oman
Legal Form : Sole Proprietorship
Registration Date : 7th
September 2005
Commercial
Registration Number : 1/80250/0
Chamber Membership
Number : 62205
Invested Capital : RO 4,000
Total Workforce : 15
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Kunnaswamy
Mungesan, Marketing Manager
WAHED AL QRAN
TRADING
Location : Salaha Area, Barka
PO Box : 671
Town : Muscat 132
Country : Oman
Mobile : (968) 96387287 / 99796418 /
99625506
Email : wahedalqarntrd@gmail.com / mugesh1976@yahoo.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Muscat.
Wahed Al-Qarn Trading
Post Box No.671, Postal Code No.132, Musca,
Sultanate of Oman.
Custom Code R 0443
+968 96387287 (or) + 968 99796418
Email: wahedalqarntrd@gmail.com
Name Position
·
Salem
Bin Ali Bin Saeed Al Jabri Proprietor
& General Manager
·
Kunnaswamy
Mungesan Marketing
Manager
Date of Establishment : 7th
September 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1/80250/0
Chamber Member No. : 62205
Invested Capital
: RO 4,000
Mr Salem Bin Ali Bin
Saeed Al Jabri is the sole proprietor of the business.
Activities: Subject’s operations are performed through
the following divisions:
·
Contracting Division
Engage as building
construction and maintenance contractors.
·
Agricultural Division
Engaged in the import and distribution of agricultural products,
greenhouses, chemicals, machinery, fertilizers and seeds for flowers and
vegetables.
Import
Countries: United States of
America, India and Malaysia
International
Suppliers:
·
Pan American
Seeds United States
of America
·
Rama
Seeds Corporation Co India
·
Asia
Ceramic Pottery Malaysia
Subject has a
workforce of 15 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.
·
Bank
Muscat
PO Box: 134
Al Khoud Branch
Muscat
Tel: (968) 24795555
Acc No. 0301040789460016
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
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|
1 |
Rs.95.57 |
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Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.