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Report No. : |
347360 |
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Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL
MARBLE COMPANY LLC (IMC) |
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Registered Office : |
Oman United
Insurance Building, 2nd Floor, Darsait, P O Box: 1079, Muscat 112 |
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Country : |
Oman |
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Date of Incorporation : |
01.04.1998 |
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Com. Reg. No.: |
1/59040/5 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged
in the quarrying, processing, cutting, and
finishing of marble. |
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No. of Employees : |
150 |
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 |
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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 :
INTERNATIONAL MARBLE COMPANY LLC (IMC)
Country of Origin : Oman
Legal Form :
Limited Liability Company – LLC
Registration Date : 1st
April 1998
Commercial
Registration Number : 1/59040/5
Chamber Membership
Number : 1076
Issued Capital : RO
500,000
Paid up Capital : RO
500,000
Total Workforce : 150
Activities :
Quarrying, processing, cutting, and finishing of
marble.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : G Moto, Senior
Accountant
INTERNATIONAL
MARBLE COMPANY LLC (IMC)
Building : Oman United Insurance Building, 2nd
Floor
Area : Darsait
PO Box : 1079
Town : Muscat 112
Country : Oman
Telephone : (968) 24797122 / 24795080
Facsimile : (968) 24797133
Email : imcoman@omantel.net.om / info@intmarbleco.com
/ accounts@intmarbleco.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Muscat.
Branch Office
(s)
Location Description
·
Al
Areedh Factory
premises
Ibri
Tel: (968) 25605330 / 25605332
Fax: (968) 25605331
Name Position
·
Ali Bin Hamed Al Kalbani Managing
Director
·
Ahmed Bin Hamed Al Kalbani Director
·
Khalid Bin Hamed Al Kalbani Director
·
Hussain
Ali Bin Hamed Al Kalbani General
Manager
·
Vijandharan
Mahnot Accounts
Manager
·
G Moto Senior
Accountant
·
Dinker
Hoskot Marketing
Manager
Date of Establishment : 1st
April 1998
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/59040/5
Chamber Member No. : 1076
Issued Capital : RO 500,000
Paid up Capital : RO 500,000
·
Ali Bin Hamed Al Kalbani
·
Ahmed Bin Hamed Al Kalbani
·
Khalid Bin Hamed Al Kalbani
Activities: Engaged in the quarrying, processing, cutting, and finishing of marble.
Subject is ISO
9001 & ISO 14001 certified.
Production Capacity: 8,000 square metres per day
Import
Countries: Italy, India,
United States of America and Japan
Export
Countries: GCC countries
and Africa.
Brand Names: DESERT ROSE and
DESERT OASIS
Subject has a
workforce of 150 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
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
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.65.04 |
|
|
1 |
Rs.99.58 |
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Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.