MIRA
INFORM REPORT
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Report Date : |
24th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
HEALTH FOUR ALL LLC |
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Registered Office : |
Bank Street Ruwi, 1040 Muscat 112 Sultanate of Oman |
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Country : |
Sultanate of Oman |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
1st November 2003 |
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Com. Reg. No.: |
1/73935/2 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of dental products, laboratory equipment, pharmaceuticals and agri-vet products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
EUR 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
HEALTH FOUR ALL LLC |
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Country of Origin |
Sultanate of Oman |
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Legal Form |
Limited Liability Company - LLC |
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Registration Date |
1st November 2003 |
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Commercial Registration Number |
1/73935/2 |
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Membership Number |
5364 |
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Issued Capita |
lRO 100,000 |
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Paid up Capita |
lRO 100,000 |
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Total Workforce |
20 |
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Line of Business |
Distributors of dental products, laboratory equipment, pharmaceuticals and agri-vet products |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
HEALTH FOUR ALL LLC
ADDRESS
Registered & Physical Address
Street : Bank Street
Area : Ruwi
PO Box : 1040
Town : Muscat 112
Country : Sultanate of Oman
Telephone : (968-24) 708304 / 797336
Facsimile : (968-24) 798375
Email : health@wjtowell.com
Premises
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Muscat.
KEY PRINCIPALS
Dr Dhafir Al Douri General Manager
Dr Alaa Sultan Commercial Manager – Dental Products
Dr Haider Nawaf Commercial Manager – Laboratory Products
Dr V Rangirih Commercial Manager – Agri-Vet Products
Dr Laith Hussain Ali Commercial Manager – Pharmaceutical Products
Manoj Mathew Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st November 2003
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 1/73935/2
Membership No. : 5364
Issued Capital : RO 100,000
Paid up Capital : RO 100,000
Name of Shareholder (s) Percentage
W J Towell and Co LLC 100%
W J Towell Building
Bank Al Marakzi Street
Muttrah Business District
PO Box : 1040, Ruwi 112
Muscat
Tel : (968) 708304 / 708308 / 708274 / 708876 / 708376
Fax : (968) 793882 / 794367
Email : general@wjtowell.com
AFFILIATED COMPANIES
Taylor Woodrow - Towell Co. LLC
Brown & Root Mid East LLC
General Electric & Trading Co. LLC (Genetco)
Jotun Paints & Co. LLC
Premix LLC
Readymix LLC
Oman National Dairy Products Co SAOG
Oman International Development Co. LLC
Cold Storage & Trading Co. LLC
Towell Lever LLC
Granherne & Co. LLC
Housetex Co. Ltd
Al Fajer Furnishing Co LLC
Towell Auto Centre
Middle East Telecommunication Company LLC
Towell Construction & Maintenance Co. LLC
Environmental Services LLC
Matrah Cold Stores LLC
Modern Cleaning Services
Towell Barwil Co. LLC
Mazoon Printing Press
Towell Tools & Engineering Co LLC
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
dental products, laboratory equipment,
pharmaceuticals and agri-vet products.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Riyal Omani (RO)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue RO 800,000 RO 1,120,000
Local sources consider subject’s financial condition to be Fair.
Legal Reserve Requirement
A Limited Liability Company (LLC) is required each year to set aside 10% of its net profits as a legal reserve until the reserve reaches one-third of the company’s capital. This legal reserve is not available for distribution.
BANKERS
National Bank of Oman Limited (SAOG)
Muttrah Business District
PO Box : 751, Ruwi 112
Muscat
Tel : (968-24) 708894 708630 / 708684
Fax : (968-24) 707781 / 703972
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of EUR 50,000
Established in 2003, subject is involved in
the import and distribution of dental
products, laboratory
equipment, pharmaceuticals and agri-vet products.
According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure: EUR 175,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |