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Report No. : |
346265 |
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Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN GRAIN
TRADING LLC |
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Registered Office : |
Building No. 1067,
Street No. 839, Souq Muttrah, P O Box: 872, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
08.05.2000 |
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Com. Reg. No.: |
1/64204/9 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
Distribution of General Foodstuffs, including Dairy Products, Milk Powder,
Spices and Rice. |
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No. of Employees : |
25 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Oman |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 : GOLDEN GRAIN TRADING
LLC
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 8th
May 2000
Commercial
Registration Number : 1/64204/9
Chamber Membership
Number : 12260
Issued Capital : RO
150,000
Paid up Capital : RO
150,000
Total Workforce : 25
Activities :
Distributors of general foodstuffs
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Arvind
Vijaysing Toprani, Managing Director
GOLDEN GRAIN TRADING LLC
Building : Building No. 1067
Street : Street No. 839
Area : Souq Muttrah
PO Box : 872
Town : Muscat 100
Country : Oman
Telephone : (968) 24711256 / 24711225
Facsimile : (968) 24712614
Mobile : (968) 99333292
Email : ggrain@gmail.com / ggrains@omantel.net.om
Subject operates from
a medium sized suite of offices and a showroom that are rented and located in
the Central Business Area of Muscat.
Name Nationality Position
·
Arvind
Vijaysingh Toprani Indian Managing
Director
·
Sumit
Arvind Toprani Indian Director
·
Mahes
Haridaz Toprani Indian Director
·
Abdullah
Bin Saeed Bin Hamd Al Alawi Omani Director
·
Rajev Dawara - Finance
Manager
·
Lalit Chachiaya - Sales
Manager
Date of Establishment : 8th
May 2000
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/64204/9
Chamber Member No. : 12260
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
·
Abdullah
Bin Saeed Bin Hamd Al Alawi
·
Arvind
Vijaysingh Toprani
·
Sumit
Arvind Toprani
·
Mahes
Haridaz Toprani
Activities: Engaged in the import and distribution of
general foodstuffs, including dairy products, milk powder, spices and rice.
Import
Countries: Europe and
India.
International Suppliers:
·
Sun Star Overseas India
·
Jatin & Co India
Brand Names: GOLDEN, HELLO and ALNASR
Operating Trend: Steady
Subject has a
workforce of 25 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 1,770,000 RO 1,925,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Muttrah Business District
PO Box: 240, Ruwi 112
Muscat
Tel: (968) 24700810 / 24799920 / 24799927
Fax: (968) 24704241
·
Bank of
Muscat
Al Burj Street
Greater Muttrah
PO Box: 6326, Ruwi
Muscat
Tel: (968) 24701769
Fax: (968) 24796488
No complaints
regarding subject’s payments have been reported.
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.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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.