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Report No. : |
333693 |
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Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
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Name : |
OMANI NATIONAL
LIVESTOCK DEVELOPMENT SAOC |
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Registered Office : |
Raysut Industrial Area, P O Box: 2875, Salalah 211 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
14.03.1998 |
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Com. Reg. No.: |
2/13799/2 |
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Legal Form : |
Omani Closed Joint Stock Company |
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Line of Business : |
Manufacture of
Animal Feeds and The Purchase and Sale of Livestock. |
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No. of Employees : |
50 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Oman |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 heavily dependent on dwindling oil resources, which
generates 77% of government revenue. It is using enhanced oil recovery
techniques to boost production. 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 from 46% to 9% by
2020. Muscat also is focused on 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, have challenged
the government's ability to effectively balance its budget as oil prices
decline. Despite government acknowledgement that Oman’s expansive social
welfare benefits are unsustainable, Oman authorities are comfortable with
short-term budget deficits and have approved an expansionary 2015 budget.
Concurrently, Oman has expanded efforts to support the development of small and
medium-size enterprises and entrepreneurship. Government agencies and large
oligarchic group companies have announced 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.
|
Source
: CIA |
Company Name : OMANI
NATIONAL LIVESTOCK DEVELOPMENT SAOC
Country of Origin : Oman
Legal Form : Omani
Closed Joint Stock Company
Registration Date : 14th
March 1998
Commercial
Registration Number : 2/13799/2
Authorised Capital : RO 15,000,000
Issued Capital : RO 6,558,417
Paid up Capital : RO 6,558,417
Total Workforce : 50
Activities :
Manufacturers of animal feeds and the purchase and sale of livestock.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Mohamed Salem
Al Ayweda, Financial Manager
OMANI NATIONAL
LIVESTOCK DEVELOPMENT SAOC
Location : Raysut Industrial Area
PO Box : 2875
Town : Salalah 211
Country : Oman
Telephone : (968) 23219101 / 23219435 /
23219437
Facsimile : (968) 23219575 / 23299237 / 23219438
Mobile : (968) 95820542 / 99493009
Email : info@onld.om
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Salalah.
Name Position
·
Mohamed Jawad Hassan Chairman
·
Ahmed Salim Ali Al Mashani Vice
Chairman
·
Dr Abdullah Bin Zaher Al Henai Director
·
Ahmed Saeed Qatn Director
·
Yacoub Bin Saeed Al Qasrafi Director
·
Aubad Salim Ali Ghawas Director
·
Abdullah Ahmed Milat Al Mahri Director
·
P R Venkitrayan General
Manager
·
Faisal Rashed Jaber Al Yafi Assistant
General Manager
·
Mohamed Ahmed Noor Internal
Auditor
·
Ahmed Masood Commercial
Manager
·
Mohamed
Salem Al Ayweda Financial
Manager
·
Ahmed Ali Al Barami Purchasing
Manager
Date of Establishment : 14th
March 1998
History : Subject was originally an Omani Public
Joint Stock Company but became an Omani Closed
Joint Stock Company in 2009.
Legal Form :
Omani Closed Joint Stock
Company
Commercial Reg. No. : 2/13799/2
Authorised Capital : RO
15,000,000
Issued Capital : RO
6,558,417
Paid up Capital : RO 6,558,417
·
Government
of Oman 59.20%
·
Omani
farmers 40.80%
Activities: Engaged in the manufacture of animal feeds
and the purchase and sale of livestock.
Subject plans to establish a
dairy processing plant based on milk collection from farmers, fattening and
meat processing, vet extension and
development services projects.
Import
Countries: Europe and
India.
International Suppliers:
·
Jai International Pvt Ltd India
Export Countries: Yemen and Somalia
Subject has a
workforce of 50 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 9,374,947 RO 9,991,661
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Salem Al Ayweda, Financial Manager
·
Bank of
Muscat
Al Nadha Street
PO Box: 18537
Salalah
Tel: (968) 23290244
Fax: (968) 23292309
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.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
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.