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Report No. : |
320712 |
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Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
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Name : |
DHARTI DREDGING & CONSTRUCTION & PARTNERS LLC |
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Registered Office : |
PO Box No. 230, Fahal Al Quabail 322, Sohar |
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Country : |
Oman |
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Date of Incorporation : |
06.10.2004 |
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Com. Reg. No.: |
3/23086/4 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged
in dredging, reclamation and maritime contracting. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Trade License Expired |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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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 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 : DHARTI DREDGING & CONSTRUCTION & PARTNERS LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 6th October 2004
Commercial Registration Number : 3/23086/4
Membership Number : 526
Activities : Dredging, reclamation and maritime contracting.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
DHARTI DREDGING & CONSTRUCTION &
PARTNERS LLC
PO Box : 230, Fahal Al Quabail 322
Town : Sohar
Country : Oman
Telephone : (968) 26849894 / 2459155
Mobile : (968) 99512824
Name Position
·
Jayakan
R General
Manager
·
Saunder
K Administration
Manager
Date of Establishment : 6th
October 2004
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 3/23086/4 (Expired
16/02/2009)
Membership
No. : 526 (Expired 23/01/2007)
Activities: Engaged in dredging, reclamation and
maritime contracting.
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.
·
Bank of
Muscat
Al Burj Street
Greater Muttrah
PO Box: 6326, Ruwi
Muscat
Tel: (968) 24701769
Fax: (968) 24796488
Unknown
Please note that
subject’s trade licence number expired on 16th February 2009 and
their membership number expired on 23rd January 2007. Neither number
has since been renewed. We were not able to contact the subject directly during
our investigation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
|
|
1 |
Rs.96.81 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
VNT |
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 |
|
|
-- |
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.