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Report No. : |
321354 |
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Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN OIL &
GASFIELD SERVICES LLC |
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Registered Office : |
Way No. 5236, Ghala Industrial Area, Ruwi 112, P O Box: 2795, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
23.12.1998 |
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Com. Reg. No.: |
1/60843/6 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
Distribution of Machinery and Equipment for the Gas and Oil Field Industries. |
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No. of Employees : |
28 |
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 |
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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 : ARABIAN
OIL & GASFIELD SERVICES LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 23rd
December 1998
Commercial
Registration Number : 1/60843/6
Chamber Membership
Number : 3956
Issued Capital : RO
150,000
Paid up Capital : RO
150,000
Total Workforce : 28
Activities :
Distributors of machinery and equipment for the gas and oil field
industries.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shameer Taha,
Financial Controller
ARABIAN OIL & GASFIELD
SERVICES LLC
Street : Way No. 5236
Area : Ghala Industrial Area, Ruwi
112
PO Box : 2795
Town : Muscat
Country : Oman
Telephone : (968) 24501938 / 24501939 / 24594793
/ 24595743
Facsimile : (968) 24594776
Mobile : (968) 99374395
Email : arogas@omantel.net.om / info@arogasllc.com
Subject operates from
a medium sized suite of offices that are rented and located in the Industrial
Area of Muscat.
Name Nationality Position
·
Mohamed
Al Oufi Omani Managing
Director
·
Ali Al
Oufi Omani Director
·
Chris
Pantouvakis - General
Manager
·
Abdullah
Al Amri - Human
Resources Manager
·
Shameer
Taha - Financial
Controller
Date of Establishment : 23rd
December 1998
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/60843/6
Chamber Member No. : 3956
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
·
Mohamed
Al Oufi
·
Ali Al
Oufi
Activities: Engaged in the import and distribution of machinery
and equipment for the gas and oil field industries.
Subject is ISO 9001:2008 accredited.
Import
Countries: India, Germany,
France, United States of America and the United Kingdom.
International
Suppliers:
·
Protego Germany
·
Bronemann Germany
·
Geldbach
UK Ltd United
Kingdom
·
Leader
Values Ltd India
·
Krohne
Messtechnik Germany
·
Compressor
Controls Corp BV United States of
America
·
Bechtel France
Brand Names: SHELL, BP, OXY, SNAMPROGETTI, CUDD, STORK
and SIA
Operating Trend: Steady
Subject has a
workforce of 28 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 1,420,000 RO 1,600,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Shameer Taha, Financial Controller
·
National
Bank of Oman Limited (SAOG)
Muttrah Business District
PO Box: 751, Ruwi 112
Muscat
Tel: (968) 24708894 / 24708630 / 24708684
Fax: (968) 24707781 / 24703972
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
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.