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Report No. : |
304815.2 |
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Report Date : |
19.03.2015 |
IDENTIFICATION DETAILS
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Name : |
WOLF INTERNATIONAL
LLC |
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Registered Office : |
Dat Al Deyafa Hotel,
Al Goybra North, P O Box 2004, Muscat 112 162, Muscat 118, Muscat |
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Country : |
Oman |
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Date of Incorporation : |
28.02.2009 |
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Com. Reg. No.: |
1/06305/5 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Engaged as general building contractors and distributors of building materials and scrap metals. ·
Subject also engaged in real estate
development, they own Al Deyafa Hotels. |
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No of Employees : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 : WOLF INTERNATIONAL LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 28th February 2009
Commercial Registration Number : 1/06305/5
Chamber Membership Number : 12306
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 100
Activities : General building contractors and distributors of building materials and
scrap metals.
Financial Condition : Undetermined
Payments : No Complaints
Person Interviewed : Sulaiman Saeed Al Hosani, Managing Director
WOLF INTERNATIONAL LLC
Registered &
Physical Address
Building : Dat Al Deyafa Hotel
Area : Al Goybra North
PO Box : 2004, Muscat 112
162, Muscat 118
Town : Muscat
Country : Oman
Telephone : (968) 24495904
Facsimile : (968) 24495227
Mobile : (968) 99002246
Email : dar-al-deyafa@hotmail.com
Premises
Subject operates from
a large suite of offices that are owned and located in the Central Business
Area of Muscat.
Branch Office (s)
Location Description
·
South
Al Amabilah Retail
premises
Muscat
·
South
Al Moolah Retail
premises
Muscat
·
As
Sawmhan Warehouse premises
Barka
·
North
Alghubra Retail
premises
Bawshar
·
North
Alghubra Retail
premises
Bawshar
·
North
Alghubra Office
premises
Bawshar
Name Position
·
Sulaiman
Saeed Al Hosani Managing
Director
·
Khalid
Sulaiman Saeed Al Hosani Director
Date of Establishment : 28th
February 2009
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/06305/5
Chamber Member No. : 12306
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
·
Sulaiman
Saeed Al Hosani
·
Khalid
Sulaiman Saeed Al Hosani
·
Bin
Saeed Al Hosani Co
Muscat
·
Al
Madena Al Malakiya
Muscat
Activities: Engaged as general building contractors and
distributors of building materials and scrap metals.
Subject also engaged in real estate development, they own Al Deyafa
Hotels.
Import
Countries: Europe and the
Far East
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.
·
Oman
Arab Bank
Gurrah Branch
PO Box: 862, Ruwi 133
Muscat
Tel: (968) 24493305
Acc
No. 3128-111393-500
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.67 |
|
UK Pound |
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.66.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
|
<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.