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Report No. : |
340517 |
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Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AL NABTAH TRADING & CONTRACTING CO LLC |
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Registered Office : |
Basar Street, New Salalah Area, PO Box : 2062, Salalah 211 |
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Country : |
Oman |
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Date of Incorporation : |
21.07.1998 |
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Com. Reg. No.: |
2/14113/2 |
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Legal Form : |
Limited
Liability Company – LLC |
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Line of Business : |
Subject is engaged in the import and distribution of marble, granite
and building materials. |
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No. of Employee : |
17 |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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.
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Source
: CIA |
Company Name :
AL NABTAH TRADING & CONTRACTING CO LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
21st July 1998
Commercial Registration Number :
2/14113/2
Chamber Membership Number :
888
Issued Capital :
RO 50,000
Paid up Capital :
RO 50,000
Total Workforce : 17
Activities :
Distributors of marble, granite and building materials.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Vinoj Govindan, Finance Manager
AL NABTAH TRADING & CONTRACTING CO LLC
Street :
Basar Street
Area :
New Salalah Area
PO Box :
2062
Town :
Salalah 211
Country :
Sultanate of Oman
Telephone :
(968) 23202048 / 23235558
Facsimile :
(968) 23298516
Mobile : (968) 99490342 / 99291516 / 96017188
Email : stephangalasni@hotmail.com / alnabthaa@yahoo.co.in
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Central Business Area of Salalah.
Branch Offices
Location Description
· Nizwa Showroom
premises
Tel: (968)
25432235
· Izki Showroom
premises
Tel: (968)
25340456
Name Nationality Position
· Stephan Galastin Indian Managing
Director
· Salem Ali Abdul Nabi Al
Sulaimi
Omani Director
· Vinoj Govindan - Finance
Manager
· T M Sageer - Sales
Manager
Date of
Establishment : 21st
July 1998
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 2/14113/2
Chamber Member No. : 888
Issued Capital : RO 50,000
Paid up Capital : RO 50,000
· Stephan Galastin
· Salem Ali Abdul Nabi Al
Sulaimi
Activities: Engaged in the import and distribution of marble, granite and building
materials.
Import Countries: India, Malaysia and China.
International
Suppliers:
· Rina Granite India
· Jebren Malaysia
· Fujian Granite China
Operating Trend: Steady
Subject has a workforce of 17 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
850,000 RO
915,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Vinoj Govindan, Finance Manager
·
National Bank of Oman Limited (SAOG)
Hafa Branch
PO Box: 824
Salalah 211
Tel: (968) 23291952
Fax: (968) 23290066
No complaints regarding subject’s payments have been reported.
Established in 1998, subject is involved in the import and distribution
of marble, granite and building materials.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
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|
1 |
Rs.102.59 |
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Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ASH |
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.