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Report No. : |
319618 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Azaib Area, 1168 Muscat 133 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
22.10.2012 |
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Com. Reg. No.: |
1/15745/3 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs, including dried goods and pulses. |
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No of Employees : |
8 |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
Company Name : UNITED AL MARIA LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 22nd October 2012
Commercial Registration Number : 1/15745/3
Chamber Membership Number : 16454
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Total Workforce : 8
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Bin Salim Bin Saeed Al Rawahi, Managing Director
UNITED AL MARIA LLC
Location : Azaib Area
PO Box : 1168
Town : Muscat 133
Country : Oman
Telephone : (968) 24614172
Facsimile : (968) 24614170
Mobile : (968) 99833464 / 99140999
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Muscat.
Name Nationality Position
·
Mohamed
Bin Salim Bin Saeed Al Rawahi Omani Managing Director
·
Maria
Bint Mahmoud Bin Salim Al Rawahi Omani Director
·
Saif Al
Rawahi - Sales
Manager
Date of Establishment : 22nd
October 2012
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/15745/3
Chamber Member No. : 16454
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
·
Mohamed
Bin Salim Bin Saeed Al Rawahi
·
Maria
Bint Mahmoud Bin Salim Al Rawahi
Activities: Engaged in the import and distribution of
general foodstuffs, including dried goods and pulses.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 8 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 715,000 RO 780,000
Local sources
consider subject’s financial condition to be Fair.
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.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 63.57 |
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|
1 |
Rs. 97.98 |
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Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
DPT |
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.