MIRA INFORM REPORT

 

 

Report Date :

12th May 2006

 

IDENTIFICATION DETAILS

 

Name :

LARSEN & TOUBRO (OMAN) LTD

 

 

Registered Office :

Bank Muscat Building, Flat No. 2, 1st Floor

598, Ruwi 112, Muscat

Sultanate of Oman

 

 

Date of Incorporation :

29th January 1994

 

 

Com. Reg. No.:

 

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Providers of construction and project management services

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 


 

 

SUMMARY

 

Company Name

LARSEN & TOUBRO (OMAN) LTD

Country of Origin

Sultanate of Oman

Legal Form

Limited Liability Company

Registration Date

29th January 1994

Commercial Registration Number

c

Membership Number

776

Issued Capital

RO 300,000

Paid up Capital

RO 300,000

Total Workforce

105

Line of Business

Providers of construction and project management services.

Financial Condition

Undetermined

Payments

Nothing detrimental uncovered

 

 

 

 

 

COMPANY NAME

 

LARSEN & TOUBRO (OMAN) LTD

 

 

ADDRESS

 

Registered & Physical Address

 

Location      : Bank Muscat Building, Flat No. 2, 1st Floor

PO Box        : 598, Ruwi 112

Town           : Muscat

Country      : Sultanate of Oman

Telephone   : (968) 24797445 / 24797466

Facsimile    : (968) 24797024

Email          : itofin@omantel.net.om

 

Premises

 

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

 

 

KEY PRINCIPALS

 

Hussam Bin Mohamed Al Zubair                Managing Director

 

Rashad Bin Mohamed Al Zubair                 Director

 

M V Satish                                                  General Manager

 

V Gopinath                                                 Financial Controller

 

M Shyamsundar                                         Project Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 29th January 1994

 

Legal Form                    : Limited Liability Company

 

Commercial Reg. No.    : 1/40304/4

 

Membership No.           : 776

 

Issued Capital               : RO 300,000

 

Paid up Capital             : RO 300,000

 

Name of Shareholder (s)

 

Hussam Bin Mohamed Al Zubair

 

Rashad Bin Mohamed Al Zubair

 

Larsen & Toubro International India

 

 

LINE OF BUSINESS

 

Operations : Engaged in the provision of construction and project management services for high rise buildings and factories, roads, bridges, airports, industrial electrification and transmission lines, energy and petrochemicals, minerals, metals and bulk materials, oil, gas and         fertilizers.

 

Import Countries : Europe and the United States of America.

 

Subject has a workforce of 105 employees.

 

 

FINANCIAL HIGHLIGHTS

 

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 : (968-24) 793225 / 793226 / 793228

Fax : (968-24) 793229

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 15,000,000:

 

Established in 1994, subject is involved in the provision of construction and project management services.

 

According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.

 

The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.

 

Maximum suggested credit figure: US$ 150,000

 

 RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

 

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