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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

485095

Report Date :

08.01.2018

 

IDENTIFICATION DETAILS

 

Name :

HOUSE OF NATURAL MINERALS LLC

 

 

Registered Office :

Building No. 6013, Way No. 1983, Al Mawalih South, P O Box 48, Al Khoudah 132, 1521, Al Seeb 121 Muscat

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

28.07.2010

 

 

Com. Reg. No.:

1/09252/5

 

 

Legal Form :

Limited Liability Company – LLC

 

 

Line of Business :

Subject is engaged in the mining, extraction and distribution of minerals. Subject also offers mining and geological consultancy and project facilitation consultancy services.

 

 

No. of Employees :

8

 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

 

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Oman

A2

A2

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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.

 

Source : CIA

 

 

 

SUMMARY

 

Company Name                                    : HOUSE OF NATURAL MINERALS LLC

Country of Origin                                   : Oman

Legal Form                                           : Limited Liability Company – LLC

Registration Date                                  : 28th July 2010

Commercial Registration Number           : 1/09252/5

Chamber Membership Number               : 12639

Issued Capital                                       : RO 150,000

Paid up Capital                                     : RO 150,000

Total Workforce                                                : 8

Activities                                               : Mining, extraction and distribution of minerals

Financial Condition                                : Fair

Payments                                             : No Complaints

Person Interviewed                                : Dinesh Dash, Sales Manager

 

 

 

COMPANY NAME

 

HOUSE OF NATURAL MINERALS LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Building No. 6013

Street               : Way No. 1983

Area                 : Al Mawalih South

PO Box                        : 48, Al Khoudah 132

                          1521, Al Seeb 121

Town                : Muscat

Country : Oman

Telephone         : (968) 24536103

Facsimile          : (968) 24537059

Mobile              : (968) 99884129 / 99885213 / 95909945 / 99884128 / 99880731 / 99323988

Email                : natminoman@gmail.com / cmd@hnmgroup.in

 

Please note that subject’s previous address was, Al Khoudah Area, Muscat.

 

Premises

 

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

 

Branch Office (s)

 

Subject has a branch office located in Turkey.

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                                Position

 

·       Rasmi Ranjan Sahaoo                                   Indian                                       Managing Director

 

·       Khalid Majid Nasser Al Khalidi                       Omani                                       Director

 

·       Ahmed Majid Nasser Al Khalidi                      Omani                                       Director

 

·       Dinesh Dash                                                                 -                                          Sales Manager

 

·       Mohamed Radawan                                           -                                          Sales Executive

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28th July 2010

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.   : 1/09252/5

 

Chamber Member No.  : 12639

 

Issued Capital              : RO 150,000

 

Paid up Capital            : RO 150,000

 

Name of Shareholder (s)

 

·       Rasmi Ranjan Sahao

·       Khalid Majid Nasser Al Khalidi

·       Ahmed Majid Nasser Al Khalidi

 

 

AFFILIATED COMPANIES

 

·       TMT Impex Private Limited

Bhubaneswar

India

 

·       Mineral & Metal Investment Foreign Trade Co

Istanbul

Turkey

 

·       Muscat House of Trade

Khartoum

Sudan

 

·       Somalia Land Mining & Energy Co Ltd

Hargesia

Somalia

 

·       Quantum Mines & Minerals DMCC

Dubai

 

 

OPERATIONS

 

Activities: Engaged in the mining, extraction and distribution of minerals. Subject also offers mining and geological consultancy and project facilitation consultancy services.

 

Import Countries: Europe, India and China

 

International Suppliers:

 

·       SAR Exim                            India

 

Clients:

 

·       Rohit Ferro Tech                   India

·       Vikudha Overseas                China

·       Al Taman Indsil                     Oman

·       Gulf Mining Mineral               Oman

 

Subject has a workforce of 8 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/16:

 

Total Sales                                RO 2,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Dinesh Dash, Sales Manager

 

 

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 the correct name of the subject is “House of Natural Minerals LLC” and not “House of Naturla Minerals LLC”.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.38

UK Pound

1

INR 86.02

Euro

1

INR 76.50

OMR

1

INR 164.84

 

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

TPT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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