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Report No. : |
309084 |
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Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MARABIT AL KHAIR
TRADING CO |
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Registered Office : |
Al
Hail Area, P O Box: 30 & 193,
Muscat 134 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
19.07.2004 |
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Com. Reg. No.: |
1/76234/6 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and Distribution of Equestrian Supplies. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
Company Name : MARABIT AL
KHAIR TRADING CO
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 19th
July 2004
Commercial
Registration Number : 1/76234/6
Chamber Membership
Number : 7861
Issued Capital : RO
100,000
Paid up Capital : RO
100,000
Total Workforce :
8
Activities :
Import and distribution of equestrian supplies
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MARABIT AL KHAIR
TRADING CO
Location : Al Hail
Area
PO Box : 30 & 193
Town : Muscat 134
Country : Oman
Telephone : (968) 24421245
Facsimile : (968) 24421142
Mobile : (968) 99019315
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Muscat.
Name Position
·
Hamoud Saeed Juma Al Bloushi Managing
Director
·
Anis Mohamed Marhoon Mamari Director
·
Mohamed Moshtaq General
Manager
Date of Establishment : 19th
July 2004
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/76234/6
Chamber Member No. : 7861
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
·
Hamoud Saeed Juma Al Bloushi
·
Anis Mohamed Marhoon Mamari
Activities: Engaged in the import
and distribution of equestrian supplies, including food, drugs, riding
equipment and shoes.
Import
Countries: United Kingdom
and Germany
Operating Trend: Steady
Subject has a
workforce of 8 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 875,000 RO 890,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Oman
International Bank
Al Jaame Street
PO Box: 4216
Muscat
Tel: (968) 24703614 / 24707328
/ 24793450
No complaints regarding
subject’s payments have been reported.
Please note that we
were unable to contact the subject directly during our investigation.
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.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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.