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Report No. : |
301399 |
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Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
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Name : |
GULF GUAR GUM COMPANY LLC SFZ |
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Registered Office : |
Salalah Free Zone PO Box 482 Salalah 217 |
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Country : |
Oman |
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Date of Incorporation : |
01.10.2013 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the production of gaur gum powder |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 : GULF GUAR GUM COMPANY LLC SFZ
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st October 2013
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 20
Activities : Producers of gaur gum powder
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : O D Sharma, General Manager
GULF GUAR GUM COMPANY LLC SFZ
Location : Salalah Free
Zone
PO Box : 482
Town : Salalah 217
Country : Oman
Telephone : (968) 23294732
/ 23290033
Mobile : (968)
92856506
Email : odsharma@genuspaper.com
Subject operates from a small suite of offices and a factory that are
rented and located in the Free Zone Area of Salalah.
Name Nationality Position
· Ishwar Chand
Agrawal Indian Managing Director
· Kailesh Chandra
Agrawal Indian Director
· Guri Shanker
Parekh Indian Director
· Arun Kumar Indian Director
· O D Sharma - General
Manager
Date of Establishment : 1st October 2013 (production
will begin during the 1st quarter of 2015)
Legal Form : Limited Liability
Company – LLC
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
· Ishwar Chand
Agrawal
· Kailesh Chandra
Agrawal
· Guri Shanker
Parekh
· Arun Kumar
Activities: Engaged in the production of gaur gum powder.
Subject has a workforce of 20 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Bank of Baroda
Main Branch
Salalah
UNKNOWN
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.39 |
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|
1 |
Rs.96.85 |
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Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIS |
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.