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Report No. : |
304801 |
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Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
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Name : |
HAIMO TECHNOLOGIES & CO LLC |
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Registered Office : |
Way No. 6420, |
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Country : |
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Date of Incorporation : |
12.04.2004 |
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Com. Reg. No.: |
1/75107/7 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the production and
distribution of oil and gas. |
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No. of Employee : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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.
|
Source
: CIA |
Company Name : HAIMO TECHNOLOGIES & CO LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 12th
April 2004
Commercial
Registration Number : 1/75107/7
Issued Capital : RO
150,000,000
Paid up Capital : RO
150,000,000
Total Workforce : 100
Activities :
Producers and distributors of oil and gas
Financial
Condition :
Undetermined
Payments :
Nothing detrimental uncovered
HAIMO TECHNOLOGIES & CO LLC
Street :
Way No. 6420, Coca Cola Road
Area :
Ghala
PO Box :
2086
Town :
Muscat 111
Country :
Oman
Telephone :
(968) 24503828 / 24503866
Facsimile :
(968) 24503617
Email :
haimooman@haimotech.com
Subject operates from a large suite of
offices that are rented and located in the Central Business Area of Muscat.
Name Position
·
Jianwen Dou Chairman
·
Jige Chen Vice
Chairman
·
Saud Bahwan Director
·
Dr Ahmed Namani Director
·
Ma Jun Director
·
Danial Secora Chief
Executive Officer
·
Xiaodeng He Finance
Manager
·
Nadeem Sayed Country
Manager
Date of
Establishment : 12th April 2004
Legal Form : Limited Liability Company – LLC
Commercial Reg.
No. : 1/75107/7
Issued Capital : RO
150,000,000
Paid up Capital : RO 150,000,000
·
Lanzhou Haimo Technologies 70%
United Arab
Emirates
·
Dr Ahmed Namani 25%
·
Saud Bahwan Automotive 5%
·
Haimo
International FZE
PO
Box: 17256
Jebel Ali Free Zone,
Dubai
United Arab
Emirates
Tel: (971-4) 8860266
Fax: (971-4)
8860267
·
Haimo
America Inc
2901 Wilcrest Drive
Suite 285,
Houston
Texas 77042,
United States
of America
·
Colombia OSS
·
Haimo Yemen
PO Box: 15317
Sittin Street
Sana'a
Yemen
·
Shaanxi Haimo
28F, 2 / B Building
Haijing
International
Economic &
Technological Zone
Xi’an City
Shaanxi Province
China
· Haimo Beijing
Suite 1207-1209
Section B, Tower 2
Wangjing SOHO, Futong East Avenue
Chaoyang District
Beijing
China
·
Lanzhou
Chenglin Oil Drilling Equipment Company
Ltd
9 Chenlin Road
Lanzhou
China
· Sino Haimo (Beijing) Petroleum Technology Co Ltd
Suite 50812, Section D, Yinhe SOHO
Dongcheng
District
Beijing
China
·
Shanghai Qinghe Machinery
Co Ltd
Shanghai
China
Activities: Engaged in the production and distribution of oil and gas.
Subject
is ISO 9001:14001 and 18001 accredited.
Production Capacity: 182,500,000
per barrel per year
Import Countries: China
Subject has a workforce of 100 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.
· National Bank of
Oman Limited (SAOG)
Muttrah Business
District
PO Box: 751, Ruwi
112
Muscat
Tel: (968)
24708894 / 24708630 / 24708684
Fax: (968) 24707781
/ 24703972
· Bank of Muscat
Al Burj Street
Greater Muttrah
PO Box: 6326, Ruwi
Muscat
Tel: (968) 24701769
Fax: (968) 24796488
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. 61.76 |
|
|
1 |
Rs. 93.13 |
|
Euro |
1 |
Rs. 70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.