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MIRA INFORM REPORT
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Report No. : |
501886 |
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Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
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Name : |
CHAINLINK FENCING CO LLC |
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Registered Office : |
Road No. 10, Rusayl Industrial Estate, PO Box 7, Rusayl 124 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
19.10.1980 |
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Com. Reg. No.: |
1/10555/8 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the manufacture of chain link, barbed wire and
wire mesh fencing, metal gabions and other metal products, including doors,
windows, shutters and gates. Subject also provides welding repair services. |
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No. of Employees : |
150 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
OMAN - ECONOMIC OVERVIEW
Oman is heavily dependent on its dwindling oil resources, which generate
84% of government revenue. In 2016, low global oil prices drove Oman’s budget
deficit to $11.5 billion, or approximately 19% of GDP, but the budget deficit
was reduced to 13% of GDP in 2017 as Oman reduced government subsidies. Oman
has limited foreign assets and is issuing debt to cover its deficit.
Oman is using enhanced oil recovery techniques to boost production, but
has simultaneously 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% at present to 9% by 2020 in accordance
with Oman’s ninth five-year development plan. Tourism and gas-based industries
are key components of the government's diversification strategy.
Muscat also has notably focused on creating more Omani jobs to employ
the rising number of nationals entering the workforce. However, high social
welfare benefits — that had increased in the wake of the 2011 Arab Spring —
have challenged the government's ability to effectively balance its budget in
light of low export oil prices. In response, Omani officials imposed austerity
measures to its gasoline and diesel subsidies in 2016, with further subsidy
cuts planned for electricity and liquid petroleum gas. The spending cuts have
faced some public opposition, which in 2017 prompted the Omani Government to
announce a cap on fuel prices and a plan to provide 25,000 public-sector jobs
for Omanis.
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Source
: CIA |
SUMMARY
Company Name :
CHAINLINK FENCING CO LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
19th October 1980
Commercial Registration Number :
1/10555/8
Membership Number :
190502
Issued Capital :
RO 500,000
Paid up Capital :
RO 500,000
Total Workforce :
150
Activities :
Manufacturers of chain link, barbed wire and wire mesh fencing, metal
gabions and other metal products.
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
COMPANY
NAME
CHAINLINK FENCING CO LLC
ADDRESS
Registered &
Physical Address
Street : Road No. 10
Area : Rusayl
Industrial Estate
PO Box : 7
Town : Rusayl 124
Country : Oman
Telephone : (968) 24446024
/ 24446211
Facsimile : (968) 24446037
Mobile :
(968) 95966799
Email :
cfcllc@omantel.net.om
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Rusayl.
KEY
PRINCIPALS
Name Nationality Position
Ali Mohamed Mirza Al Ajmi 1672478 Managing Director
Tariq Ali Mohamed Al Ajmi 5351435 Director
Hani Ali Mohamed Mirza 7750956 Director
E Viswakumar - General
Manager
Mohamed Shujaa Eddine - Finance
Manager
Sultan Mohamed Mirza Al Jarrah - Administration
Manager
Mohammed Shujavuddin - Sales
Manager
Syam Mohan - Sales
Executive
Santosh J Nair - Sales
Co-ordinator
Nivas S Pillai - Purchasing
Manager
Alfred Rebello - Accountant
LEGAL
FORM & OWNERS
Date of Establishment : 19th
October 1980
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 1/10555/8
Membership No. : 190502
Issued Capital : RO 500,000
Paid up Capital : RO 500,000
Name of
Shareholder (s) Percentage
Ali Mohamed Mirza Al Ajmi 90%
Tariq Ali Mohamed Al Ajmi 5%
Hani Ali Mohamed Mirza 5%
OPERATIONS
Activities: Engaged in the manufacture of chain link, barbed wire and wire mesh
fencing, metal gabions and other metal products, including doors, windows,
shutters and gates. Subject also provides welding repair services.
Operating Trend: Steady
Subject has a workforce of 150 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year Ending 31/12/16: Year Ending 31/12/17:
Total Sales RO
4,110,000 RO
4,350,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Bank Muscat
Rusayl
Tel: (968) 24795555
PAYMENT
HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL
COMMENTS
The subject and its shareholders/owners have been searched in the
following databases; Office of Foreign Assets Control (OFAC), United Nations
Security Council Sanctions, Australian Sanctions List, US Consolidated
Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and
nothing adverse could be found on the exact names listed within the report.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.06 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.77 |
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OMR |
1 |
INR 168.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.