MIRA INFORM REPORT

 

 

Report No. :

508062

Report Date :

12.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

INDIAN SCHOOL

 

 

Registered Office :

Al Mabela, 2445, Seeb 111, Muscat

 

 

Country :

Oman

 

 

Year of Establishment :

2002

 

 

Legal Form :

Non-Governmental Entity

 

 

Line of Business :

Subject is engaged in the operation of an Indian primary and secondary school.

 

 

No. of Employees :

300

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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 oil and gas resources, which can generate between and 68% and 85% of government revenue, depending on fluctuations in commodity prices. In 2016, low global oil prices drove Oman’s budget deficit to $13.8 billion, or approximately 20% of GDP, but the budget deficit is estimated to have reduced to 12% of GDP in 2017 as Oman reduced government subsidies. As of January 2018, Oman has sufficient foreign assets to support its currency’s fixed exchange rates. It is issuing debt to cover its deficit.

 

Oman is using enhanced oil recovery techniques to boost production, but it 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. The key components of the government's diversification strategy are tourism, shipping and logistics, mining, manufacturing, and aquaculture.

 

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 made it impossible for the government to balance its budget in light of current oil prices. In response, Omani officials imposed austerity measures on its gasoline and diesel subsidies in 2016. These spending cuts have had only a moderate effect on the government’s budget, which is projected to again face a deficit of $7.8 billion in 2018.

 

Source : CIA

 

SUMMARY

 

Company Name                                    : INDIAN SCHOOL

Country of Origin                                   : Oman

Legal Form                                           : Non-Governmental Entity

Registration Date                                  : 2002

Total Workforce                                                : 300

Activities                                               : Operators of an Indian primary and secondary school

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

Company name and address

 

COMPANY NAME: INDIAN SCHOOL

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Al Mabela

 

PO Box                        : 2445, Seeb 111

 

Town                : Muscat

Country             : Oman

 

Telephone         : (968) 24451664 / 24451424

Facsimile          : (968) 24451353

Email                : info@indianschoolseeb.com / indsseeb@omantel.net.om

 

 

Premises

 

Subject operates from a school covering 13,000 square metres that are rented and located in the Central Business Area of Muscat.

 

 

KEY PRINCIPALS

 

 

            Name                                                                                        Position

 

Moidu M K                                                                                            President

 

Dr Rathin Banerjee                                                                                 Vice President

 

Wilson Vavanal George                                                                         Chairman

 

C M Najeeb                                                                                           Vice Chairman

 

Leena Francis                                                                                        Principal

 

Anawari Nithin Deoras                                                                            Director

           

Dr C K Anchan                                                                                      Director

LEGAL FORM & OWNERS

 

Date of Establishment  : 2002

 

Legal Form      : Non-Governmental Entity

 

Subject is run by a management committee and does not have any shareholders.

 

 

OPERATIONS

 

Activities: Engaged in the operation of an Indian primary and secondary school.

 

Subject has a workforce of 300 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

 

 

National Bank of Oman Limited (SAOG)

Ruwi Branch

PO Box: 752

Muscat 112

Tel: (968) 24708894 / 24708519 / 24708562

Fax: (968) 24797278

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.22

UK Pound

1

INR 90.87

Euro

1

INR 80.87

OMR

1

INR 175.03

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

DNS

 

 

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.