|
Report No. : |
344304.2 |
|
Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
BIPIN DHARAMSEY LLC |
|
|
|
|
Registered Office : |
Building No. 280, Way No. 95, Al Saidiya Area, PO Box 670, Muscat 100 |
|
|
|
|
Country : |
Oman |
|
|
|
|
Date of Incorporation : |
25.02.2013 |
|
|
|
|
Com. Reg. No.: |
1/16690/4 |
|
|
|
|
Legal Form : |
Limited Liability Company – LLC |
|
|
|
|
Line of Business : |
Engaged in the import and distribution of general merchandise,
including foodstuffs and handicraft items. |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
BIPIN DHARAMSEY LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
25th February 2013
Commercial Registration Number :
1/16690/4
Issued Capital :
RO 20,000
Paid up Capital :
RO 20,000
Total Workforce : 10
Activities :
Distributors of general merchandise.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Kanaylal C Badyani, General Manager
BIPIN DHARAMSEY LLC
Registered &
Physical Address
Building :
Building No. 280
Street : Way No. 95
Area : Al Saidiya
Area
PO Box : 670
Town : Muscat 100
Country : Oman
Telephone : (968) 24736237
Facsimile : (968) 24736231
Email : import@dharamsey.com
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Muscat.
Name Position
Bipin Dharamsey Managing
Director
Ashwin Dharamsey Director
Kanaylal C Badyani General
Manager
Lewis Rayan Financial
Controller
M Wasu Administration
Executive
Date of Establishment : 25th
February 2013
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 1/16690/4
Issued Capital : RO 20,000
Paid up Capital : RO 20,000
Name of Shareholder (s)
Bipin Dharamsey
Ashwin Dharamsey
Dharamsey Nansey Co
PO Box: 136
Muscat 100
Tel: (968) 24736237
Fax: (968) 24736231
CR No. 1/01358/0
Activities: Engaged in the import and distribution of general merchandise, including
foodstuffs and handicraft items.
Import Countries: Europe and the Far East.
International
Suppliers:
Art of Loom
Kani Home
Subject has a workforce of 10 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.
Commercial Bank of Oman SAOG
Muttrah Business District
PO Box: 1696, Ruwi 112
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
Unknown
Local correspondents spoke to Mr Kanaylal C Badyani, General Manager who
stated that the subject does not sell direct to the public but supplies the
Amiri Diwan. He would not divulge the subject’s financial details.
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.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
-- |
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.