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MIRA INFORM REPORT
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Report No. : |
506130 |
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Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AL RAWBI INTERNATIONAL LLC |
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Registered Office : |
A’Salam Street, As Sinayat Al Jadidah, PO Box 505, Salalah 311 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
31.05.2015 |
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Com. Reg. No.: |
1/22087/7 |
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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 animal feeds and provision of construction, international
import export, loading and
off-loading, interior furnishings and decor and consultation services. |
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No. of Employees : |
8 |
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
RAWBI INTERNATIONAL LLC
Country
of Origin :
Oman
Legal
Form :
Limited Liability Company – LLC
Registration
Date : 31st
May 2015
Commercial
Registration Number : 1/22087/7
Issued
Capital :
RO 250,000
Paid
up Capital :
RO 250,000
Total
Workforce :
8
Activities :
Distributors of animal feeds and provision of construction, international import
and export, loading and off-loading, interior furnishings and décor and
consultation services
Financial
Condition :
Fair
Payments :
No Complaints
Operating
Trend :
Steady
Company
name and address
COMPANY
NAME: AL
RAWBI INTERNATIONAL LLC
ADDRESS
Registered
& Physical Address
Street : A’Salam Street
Area : As Sinayat Al Jadidah
PO
Box : 505
Town : Salalah 311
Country : Oman
Telephone : (968) 22372000
Mobile : (968) 96495959
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Salalah.
KEY
PRINCIPALS
Name Nationality Position
Waleed Hashil Rashid Al Mamari Omani Managing
Director
Said
Jamaan Said Ba Makhalaf Omani Director
Zubair
Aslam Muhammad Pakistani General Manager
Muhammad Osama Ubaidullah Shah Pakistani Assistant
General Manager
LEGAL
FORM & OWNERS
Date
of Establishment : 31st May 2015
Legal
Form : Limited Liability Company –
LLC
Commercial
Reg. No. : 1/22087/7
Issued
Capital : RO 250,000
Paid
up Capital : RO 250,000
Name
of Shareholder (s) Percentage
Waleed Hashil Rashid Al Mamari 99%
Said
Jamaan Said Ba Makhalaf
1%
OPERATIONS
Activities: Engaged in the import and distribution
of animal feeds and provision of construction, international import export, loading and off-loading, interior
furnishings and decor and consultation services.
Import
Countries:
Europe and the Far East
Operating
Trend:
Steady
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: Year Ending
31/12/17:
Total
Sales RO
1,100,000 RO
1,225,000
Local
sources consider subject’s financial condition to be Fair.
The
above financial figures are based on estimations by our local sources.
BANKERS
HSBC
Middle East
PO
Box: 234
Muscat
113
Tel:
(968) 22736041 / 22736042
Fax:
(968) 22736043
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.
According to local sources, subject
meets its payment obligations in a timely manner and 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 66.78 |
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1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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OMR |
1 |
INR 172.14 |
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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VIV |
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Report Prepared
by : |
DNS |
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.