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MIRA INFORM REPORT
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Report No. : |
483226 |
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Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TALAL AL RAYANI TRADING |
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Registered Office : |
Shop No. 35, Sabco Souq, PO Box 39, Muscat |
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Country : |
Oman |
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Date of Incorporation : |
08.02.2000 |
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Com. Reg. No.: |
1/63390/2 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of readymade garments,
textiles, footwear, perfumes and cosmetics, toys and games, rugs and gift
items. |
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No. of Employees : |
5 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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. 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 could hinder their implementation.
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Source
: CIA |
SUMMARY
Company Name :
TALAL AL RAYANI TRADING
Country of Origin :
Oman
Legal Form :
Sole Proprietorship
Registration Date :
8th February 2000
Commercial Registration Number :
1/63390/2
Invested Capital :
RO 25,000
Total Workforce :
5
Activities :
Distributors of readymade garments, textiles, footwear, perfumes and
cosmetics, toys and games, rugs and gift
items
Financial Condition :
Undetermined
Payments :
No Complaints
COMPANY
NAME
TALAL AL RAYANI TRADING
ADDRESS
Registered &
Physical Address
Location : Shop No. 35,
Sabco Souq
PO Box : 39
Town : Muscat
Country : Oman
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Muscat.
KEY
PRINCIPALS
Name ID
Number Position
Talal Ali Said Al Riyami 2921543 Proprietor
& General Manager
LEGAL
FORM & OWNERS
Date of Establishment : 8th
February 2000
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 1/63390/2
Invested Capital : RO 25,000
Mr Talal Ali Said Al Riyami is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of readymade garments, textiles,
footwear, perfumes and cosmetics, toys and games, rugs and gift items.
Import Countries: Europe and the Far East
Subject has a workforce of 5 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
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
Please note that we were unable to contact the subject directly during
our investigation.
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 63.67 |
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1 |
INR 85.90 |
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Euro |
1 |
INR 76.41 |
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OMR |
1 |
INR 164.94 |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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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.