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MIRA INFORM REPORT
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Report No. : |
510833 |
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Report Date : |
23.05.2018 |
IDENTIFICATION DETAILS
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Name : |
HEALTHY
BEVERAGES COMPANY SFZ LLC |
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Registered Office : |
Salalah Free Zone, PO Box 2579, Salalah 211 |
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Country : |
Oman |
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Date of Incorporation : |
07.02.2017 |
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Com. Reg. No.: |
1/28585/9 |
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Legal Form : |
Limited
Liability Company – LLC |
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Line of Business : |
Subject is engaged in the manufacture and bottling of soft drinks and
water |
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No. of Employees : |
25 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 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.
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Source
: CIA |
SUMMARY
Company
Name :
HEALTHY BEVERAGES COMPANY SFZ LLC
Country
of Origin :
Oman
Legal
Form :
Limited Liability Company – LLC
Registration
Date : 7th
February 2017
Commercial
Registration Number : 1/28585/9
Issued
Capital :
RO 300,000
Paid
up Capital :
RO 300,000
Total
Workforce :
25
Activities :
Manufacture and bottling of soft drinks and water
Financial
Condition :
Undetermined
Payments :
Unknown
COMPANY
NAME
HEALTHY BEVERAGES COMPANY SFZ LLC
ADDRESS
Registered
& Physical Address
Location : Salalah Free Zone
PO
Box : 2579
Town : Salalah 211
Country : Oman
Mobile :
(968) 99225145 / 91207754
Email :
salahabdulwadod@gmail.com
Premises
Subject
operates from a small suite of offices and a factory that are rented and
located in the Free Zone Area of Salalah.
KEY
PRINCIPALS
Name Nationality Position
Alhlah
Almh Almadih Yemeni Managing
Director
Ahmed
Yousef Abdulwadod Yemeni Director
Galaladdin
Yousef Abdulwadod Saeed Yemeni
Director
Samera
Yousef Abdulwadod Saeed Yemeni
Director
Salah
Yousef Abdulwadod Yemeni
Director
Maryam
Yousef Abdulwadod Saeed Yemeni
Director
Mohsin Ali Hussen Al Mehdhar Yemeni Director
Yousef
Abdulwadod Saeed Yemeni
Director
Salah
Adeen Abdulghani Abdulwadod Saeed Yemeni Director
LEGAL
FORM & OWNERS
Date
of Establishment : 7th February
2017
Legal
Form : Limited Liability Company – LLC
Commercial
Reg. No. : 1/28585/9
Issued
Capital : RO 300,000
Paid
up Capital : RO 300,000
Name
of Shareholder (s) Percentage
Yousef
Abdulwadod & Partners LLC 30.0%
Oman
Alhlah
Almh Almadih 30.0%
Mohsin
Ali Hussen Al Mehdhar 15.0%
Yousef
Abdulwadod Saeed 12.0%
Salah
Adeen Abdulghani Abdulwadod Saeed 5.0%
Ahmed
Yosef Abdulwadod 2.5%
Galaladdin
Yousef Abdulwadod Saeed 2.5%
Samera
Yousef Abdulwadod Saeed 1.0%
Salah
Yousef Abdulwadod 1.0%
Maryam
Yousef Abdulwadod Saeed 1.0%
OPERATIONS
Activities: Engaged in the manufacture
and bottling of soft drinks and water.
Subject
has a workforce of 25 employees.
FINANCIAL
DATA
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
Bank
of Muscat
Al
Nadha Street
PO
Box: 18537
Salalah
Tel:
(968) 23290244
Fax:
(968) 23292309
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
Please
note that subject’s commercial registration number is “1/28585/9”, “128589” is
incorrect.
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.
In
view of subject’s infancy, extensive payment and financial records are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.02 |
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1 |
INR 91.25 |
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Euro |
1 |
INR 80.07 |
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OMR |
1 |
INR 177.65 |
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 : |
KET |
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
·
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.