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Report No. : |
327847 |
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Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
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Name : |
TEEJAN JALEEL LLC |
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Registered Office : |
Ghala Area 1829, Ruwi 112 Muscat |
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Country : |
Oman |
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Date of Incorporation : |
12.11.2005 |
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Com. Reg. No.: |
1/80870/2 |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Subject’s activities
are performed through the following divisions: ·
Fire & Safety Equipment Division Distributors of fire and safety equipment. ·
Construction Equipment Division Distributors of construction equipment and heavy machinery. ·
Food Division Distributors of
general foodstuff products. |
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No. of Employee : |
350 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
|
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 : TEEJAN
JALEEL LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 12th November
2005
Commercial
Registration Number : 1/80870/2
Chamber Membership
Number : 5514
Issued Capital : RO
150,000
Paid up Capital : RO
150,000
Total Workforce : 350
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Timsha
Kureikose, Operations Manager
TEEJAN JALEEL LLC
Location : Ghala Area
PO Box : 1829, Ruwi 112
Town : Muscat
Country : Sultanate of
Oman
Telephone : (968) 24594641
/ 24812384 / 24504717 / 24593560 / 24594996 / 24503493
Facsimile : (968) 24819473
Mobile : (968)
99844826
Email : teejan@omantel.net.om / info@teejan.com
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Industrial Area of Muscat.
Name Nationality Position
·
Hamd
Salem Issa Al Harassay Omani Managing Director
·
Samir K
Mohamed Indian Director
·
Abdullah
Nalapat Indian Director
·
Mohamed
Hamd Salem Issa Al Harassay - General
Manager
·
Aflah
Hamd Salem Issa Al Harassay - Commercial Manager
·
Fawaz
Hamd Salem Issa Al Harassay - Administration
Manager
·
Timsha
Kureikose - Operations
Manager
·
Tommy
Varghese - Financial
Controller
Date of Establishment : 12th November
2005
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/80870/2
Chamber Member No. : 5514
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
·
Hamd
Salem Issa Al Harassay
·
Samir K
Mohamed
·
Abdullah
Nalapat
·
Teejan
Trading & Contracting Co LLC
Muscat
·
Teejan
Furnishing LLC
Muscat
·
Teejan
Equipment LLC
Muscat
·
Teejan
Aujan Marketing Co LLC
Muscat
·
Teejan
Cleaners LLC
Muscat
·
Dolphin
Trading & Inv LLC
Muscat
·
Go
Point Ta’meer LLC
Muscat
·
Bright
Muscat Trading & Contracting Co LLC
Muscat
·
Exceed
Oman
Muscat
·
TIMA
LLC
Muscat
·
Teejan
General Trading LLC
Dubai
United Arab Emirates
Tel: (971-4) 3200042
Activities: Subject’s activities are performed through
the following divisions:
·
Fire & Safety Equipment Division
Distributors of fire and
safety equipment.
·
Construction Equipment Division
Distributors of construction
equipment and heavy machinery.
·
Food Division
Distributors of general foodstuff products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of approximately 350 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 47,850,000 RO 48,600,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Commercial Bank of Oman SAOG
Muttrah Business District
PO Box: 1696, Ruwi 112
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
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.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
ANK |
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 |
|
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.