MIRA INFORM REPORT

 

 

Report No. :

339531

Report Date :

04.09.2015

 

IDENTIFICATION DETAILS

 

Name :

EMAAR JERZEZ (ASSO)

 

 

Registered Office :

Al Khuwair Area 133,  72 Muscat

 

 

Country :

Oman

 

 

Date of Incorporation :

09.01.2011

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Subject operates a general trade licence, enabling it to distribute general merchandise.

 

 

No. of Employees :

3

 

 

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

SUMMARY

 

Company Name                                                : EMAAR JERZEZ (ASSO)

Country of Origin                                   : Oman

Legal Form                                           : General Partnership

Registration Date                                  : 9th January 2011

Commercial Registration Number                       : 1/10057/5

Chamber Membership Number               : 18989

Partners Capital                                     : RO 150,000

Total Workforce                                     : 3

Activities                                               : General trade licence

Financial Condition                                : Undetermined

Payments                                             : Unknown

 

COMPANY NAME

 

EMAAR JERZEZ (ASSO)

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Al Khuwair Area 133

 

PO Box                        : 72

 

Town                : Muscat

Country             : Oman

 

Mobile              : (968) 99362419

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Muscat.

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                    Position

 

·       Yasser Hamoud Yasser Al Mamari                 Omani                           Managing Partner

 

·       Hamoud Yasser Al Mamari                            Omani                           Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 9th January 2011

 

Legal Form                  : General Partnership

 

Commercial Reg. No.   : 1/10057/5

 

Chamber Member No.  : 18989

 

Partners Capital           : RO 150,000

 

Name of Partners                                                        

 

·       Yasser Hamoud Yasser Al Mamari                

 

·       Hamoud Yasser Al Mamari

 

 

OPERATIONS

 

Activities: Subject operates a general trade licence, enabling it to distribute general merchandise.

 

Import Countries: Europe and the Far East

 

Subject has a workforce of 3 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

 

·       Bank Dhofar Al Omani Al Fransi

Al Burj Street

PO Box: 4507, Ruwi

Muscat

Tel: (968) 24798012 / 24798013

Fax: (968) 24798015

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that we were unable to contact the subject directly during our investigation.

 

Local sources report that subject meets its payments in a timely manner and is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.23

UK Pound

1

Rs.101.22

Euro

1

Rs.74.33

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.