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MIRA INFORM REPORT
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Report No. : |
504976 |
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Report Date : |
24.04.2018 |
IDENTIFICATION DETAILS
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Name : |
AL TAQDEER TRADING LLC |
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Registered Office : |
Mazoun Complex, Ground Floor, Suite No. 34-36, Al Wadi Al Kabir 117, PO Box 350, Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
29.11.1989 |
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Com. Reg. No.: |
1/28917/9 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the wholesale and retail of textiles, readymade
garments, footwear, household appliances, stationery, perfumes, cosmetics,
toys and games. |
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No. of Employees : |
12 |
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 :
AL TAQDEER TRADING LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Registration Date :
29th November 1989
Commercial Registration Number :
1/28917/9
Chamber Membership Number :
2474
Issued Capital :
RO 150,000
Paid up Capital :
RO 150,000
Total Workforce :
12
Activities :
Wholesalers and retailers of textiles, readymade garments, footwear,
household appliances, stationery, perfumes,
cosmetics, toys and
games
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
COMPANY
NAME
AL TAQDEER TRADING LLC
ADDRESS
Registered &
Physical Address
Building : Mazoun
Complex, Ground Floor, Suite No. 34-36
Area :
Al Wadi Al Kabir 117
PO Box : 350
Town : Muscat
Country : Oman
Telephone : (968) 24833234
/ 24704415 / 3500587
Facsimile : (968) 24833212
/ 24703813
Mobile : (968)
99318974
Email : info@taqdeerfashion.com
/ taqdeer@omantel.net.om
/ taqdeer@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Muscat.
Branch Offices
Location Description
Al Hashar Building Office
premises
Ruwi
Muscat
Tel: (968) 24833234
KEY
PRINCIPALS
Name Nationality ID Number Position
Kishore Kumar Jayantilal Premchand Mehta Indian 61103362 Managing Director
Gurnani Khubo Mangharan Indian 60908745 Director
Anil Kumar Jayantilal Wadher Indian 61018148 Director
Kishore Mangharan Gurnani Indian 60706025 Director
Abdul Hussain Bin Ragab Naghbash Al Zajali Omani 1744265 Director
Ghulam Mohideen - - Financial
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 29th
November 1989
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 1/28917/9
Chamber Member No. : 2474
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of
Shareholder (s) Percentage
Kishore Kumar
Jayantilal Premchand Mehta 29%
Gurnani Khubo Mangharan 24%
Anil Kumar Jayantilal Wadher 23%
Kishore Mangharan Gurnani 23%
Abdul Hussain Bin Ragab Naghbash Al Zajali 1%
AFFILIATED
COMPANIES
Al Taqdeer Fashion LLC
Muscat
Tel: (968) 24704415
Silk House
Muscat
Tel: (968) 24704415
Al Taqdeer Fashion LLC
Dubai
United Arab Emirates
Tel: (971-4) 3534361
Fax: (971-4) 3530587
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles, readymade garments,
footwear, household appliances, stationery, perfumes, cosmetics, toys and
games.
Import Countries: China, Taiwan, India and Thailand.
International
Suppliers:
Sunny International India
Unity International India
Ramnani Brothers Thailand
Brand Names: ASCOTT,
BLUESTONE, BOSS and NEVERLOOK
Operating Trend: Steady
Subject has a workforce of 12 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
1,850,000 RO
1,915,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Commercial Bank of Oman SAOG
Muttrah Business District
PO Box: 1696, Ruwi 112
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
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 66.22 |
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1 |
INR 92.84 |
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Euro |
1 |
INR 81.27 |
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OMR |
1 |
INR 172.56 |
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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DIV |
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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.