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Report No. : |
303716 |
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Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ANABIL FOOD
INDUSTRIES LLC |
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Registered Office : |
Rusayl Industrial Area, P O Box 29, Rusayl 124 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
17.08.2001 |
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Com. Reg. No.: |
1/67713/6 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacturers of
Chips, Snacks and Other Light Foodstuffs. |
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No. of Employees : |
25 |
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 – 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.
|
Source
: CIA |
Company Name : ANABIL
FOOD INDUSTRIES LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 17th
August 2001
Commercial
Registration Number : 1/67713/6
Chamber Membership
Number : 3979
Issued Capital : RO
100,000
Paid up Capital : RO
100,000
Total Workforce : 25
Activities : Manufacturers of chips, snacks and
other light foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : D’Souza Telndo, Finance Manager
ANABIL FOOD INDUSTRIES
LLC
Location : Rusayl Industrial Area
PO Box : 29
Town : Rusayl 124
Country : Oman
Telephone : (968) 24446034 / 24446035 / 24446036
Facsimile : (968) 24446048
Mobile : (968) 99529281 / 99310553
Email : nabilbiscuits@omantel.net.om
/ info@nabilbiscuits.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Rusayl.
Name Position
·
Noah Mohamed Murad Al Zajali Chairman
·
Abdul Mehdi Bin Abdul Baqi Managing
Director
·
Khalfan Al Harthy Chief
Executive Officer
·
Rahul Shendi General
Manager
·
D’Souza Telndo Finance
Manager
Date of Establishment : 17th
August 2001
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/67713/6
Chamber Member No. : 3979
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
·
National Biscuits Co SAOG 98%
Muscat
Oman
·
Abdul Mehdi Bin Abdul Baqi
2%
Activities: Engaged in the manufacture of chips, snacks
and other light foodstuffs.
Import
Countries: Europe and GCC
countries.
Brand Names: NABIL
GHALIA, CHEPIE, MAGIC and MASALA TWIST
Operating Trend: Steady
Subject has a
workforce of 25 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 1,320,781 RO 1,405,104
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr D’Souza Telndo, Finance Manager
·
Bank of
Muscat
Al Rakha Street
PO Box: 109
Muscat
Tel: (968) 24736565
Fax: (968) 24736187
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.70 |
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|
1 |
Rs.93.41 |
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Euro |
1 |
Rs.71.33 |
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.