MIRA INFORM REPORT
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Report No. : |
322213 |
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Report Date : |
15.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AL TAMMAN INDSIL
FERRO CHROME LLC |
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Registered Office : |
Way No. 3106, Ruwi 592 Al Hamriya 131 |
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Country : |
Oman |
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Date of Incorporation : |
19.06.2010 |
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Com. Reg. No.: |
1/09049/9 |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Engaged in the processing
and production of ferro chrome. |
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No. of Employee : |
50 |
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) |
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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 |
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 asOIL 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 |
SUMMARY
Company Name : AL TAMMAN
INDSIL FERRO CHROME LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 19th
June 2010
Commercial
Registration Number : 1/09049/9
Chamber Membership
Number : 12688
Issued Capital : RO 4,762,744
Paid up Capital : RO 4,762,744
Total Workforce :
50
Activities :
Processors and production of ferro chrome
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Anadiya Das,
Finance Manager
COMPANY
NAME
AL TAMMAN INDSIL
FERRO CHROME LLC
ADDRESS
Registered & Physical
Address
Location : Way No. 3106, Ruwi
PO Box : 592
Town : Al Hamriya 131
Country : Oman
Telephone : (968) 24794404 / 24703844 / 24792559
Facsimile : (968) 24793071 / 24793229
Mobile : (968) 92731321 / 95617750
Email : musovrco@omantel.net.om / admin@atifoman.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Al Hamriya.
Branch Office
(s)
Location Description
·
Sohar
Industrial Area Factory premises
KEY
PRINCIPALS
Name Position
·
Sheikh
Salem Mushil Ahmed Al Mashkani Chairman
·
Venod
Jain Chief
Executive Officer
·
K K
Abdulrazza Group
Financial Manager
·
Anadiya
Das Finance
Manager
·
K
Nagraro Sales
Manager
LEGAL
FORM & OWNERS
Date of
Establishment : 19th June 2010 (Production began
in 2013)
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/09049/9
Chamber Member No. : 12688
Issued Capital : RO 4,762,744
Paid up Capital : RO 4,762,744
Name of
Shareholder (s) Percentage
·
Muscat
Overseas 50%
Oman
·
Indsil
Energy and Electrochemicals Ltd 25%
India
·
Indsil
Hydro Power and Manganese Ltd 25%
India
OPERATIONS
Activities: Engaged in the processing and production of
ferro chrome.
Subject has a
workforce of 50 employees.
FINANCIAL
DATA
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.
BANKERS
·
HSBC
Bank Middle East
Muttrah Business District
PO Box: 240, Ruwi 112
Muscat
Tel: (968) 24700810 / 24799920 / 24799927
Fax: (968) 24704241
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
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.63.84 |
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|
1 |
Rs.100.65 |
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Euro |
1 |
Rs.72.88 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
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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.