MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAHWAN BUILDING MATERIALS LLC |
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Registered Office : |
Bayt Al Falaj
Street, Al Wadi Al Kabir, PO Box 169, Muscat 113 |
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Country : |
Sultanate of Oman |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
17.06. 1979 |
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Com. Reg. No.: |
1/08739/8 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Importer and Distributor of Building Materials, Timber and
Steel. |
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 : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BAHWAN BUILDING MATERIALS LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 17th June 1979
Commercial Registration Number : 1/08739/8
Chamber Membership Number : 206
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Total Workforce : 75
Activities : Import and distribution of building materials, timber and steel.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
BAHWAN BUILDING
MATERIALS LLC
ADDRESS
Registered & Physical Address
Street : Bayt Al
Falaj Street
Area : Al Wadi Al
Kabir
PO Box : 169
Town : Muscat 113
Country : Sultanate of
Oman
Telephone : (968) 24810983
/ 24813752
Facsimile : (968) 24815755
Email : bahwanbm@omantel.net.om
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Central Business Area of Muscat.
KEY PRINCIPALS
Name Nationality Position
·
Sheikh Suhail Salem Abdullah Bahwan Omani Chairman
·
Sheikh Ahmed Suhail Salem Abdullah Bahwan Omani Director
·
G Venkat Rao - General
Manager
·
S Venkatesh - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th
June 1979
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/08739/8
Chamber Member No. : 206
Issued Capital : RO 150,000
Paid up Capital : RO 150,000
Name of Shareholder (s)
·
Sheikh Suhail Salem Abdullah Bahwan
·
Sheikh Ahmed Suhail Salem Abdullah Bahwan
AFFILIATED COMPANIES
Subject is a member of the well known Suhail & Saud Bahwan group of
companies that comprises the following concerns:
·
Al Gaddag
Engineering LLC
PO Box : 168
Muscat
Tel : (968-24) 712470
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Suhail &
Saud Bahwan Building Materials LLC
PO Box : 169
Muscat
Tel : (968-24) 797581
Fax : (968-24) 797169
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Suhail &
Saud Bahwan Building Materials LLC
Al Qurum District
PO Box: 3168 / 703, Ruwi 112
Muscat
Tel: (968-24) 700983 / 793741 / 561377
Fax: (968-24) 793755
·
Amiantit Oman
SAO
PO Box : 1417
Seeb
Tel : (968-25) 626600
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Arab Merchants
Co LLC
PO Box : 6228
Muscat
Tel : (968-24) 701221
·
Arabian Car
Marketing Co LLC
PO Box : 169
Muscat
Tel : (968-24) 793741
Fax : (968-24) 796158
·
Arabian
Caravans Furnishing & Trading Co LLC
PO Box : 169
Muscat
Tel : (968-24) 797596
Fax : (968-24) 562089
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Auto Parts
Centre LLC
PO Box : 2619
Muscat
Tel : (968-24) 564308
Fax: (968-24) 564309
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Automobile
Automotive Centre
PO Box : 6168
Muscat
Tel : (968-24) 561377
Fax : (968-24) 561631
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Bahwan
Contracting Company LLC
PO Box : 4098
Muscat
Tel : (968-24) 591092
Fax : (968-24) 591098
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Bahwan Foods
(Khalijana) Co LLC
PO Box : 3711
Muscat
Tel : (968-24) 592492
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Bahwan Trading
Company LLC
Suhail Bahwan Building
PO Box : 169 & 2
Muscat 113
Tel : (968-24) 793750 / 24793741
Fax : (968-24) 796158
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Bahwan Travel
Agencies LLC
PO Box : 282
Muscat
Tel : (968-24) 740455
Fax : (968-24) 700483
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Bahwan
Engineering Co LLC (BEC)
Bahwan Centre
Sultan Qaboos Street
Al Ghoubra , Ruwi
PO Box : 703
Muscat 112
Tel : (968-24) 597510
Fax : (968-24) 597511
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Delta Ltd
PO Box : 4537
Muscat
Tel : (968-24) 708483
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Ebin Rushed
Pharmacy Co LLC
PO Box : 169
Muscat
Tel : (968-24) 701557
Fax : (968-24) 701547
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International
Equipment & Contracting Co LLC
PO Box : 169
Muscat
Tel : (968-24) 714482
Fax : (968-24) 793755
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National
Crushers
PO Box : 961
Muscat
Tel : (968-24) 591461
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Rent-A-Car LLC
PO Box : 282
Muscat
Tel : (968-24) 561427
Fax : (968-24) 700483
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Utmost
Building Materials Co LLC
Al Burj Building, 1st Floor
Deira
PO Box : 55014
Dubai
United Arab Emirates
Tel : (971-4) 3553883
Fax : (971-4) 3553776
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Gulf
Mercantile Trading
Al Burj Building, 1st Floor
Deira
PO Box : 55014
Dubai
United Arab Emirates
Tel : (971-4) 3553883
Fax : (971-4) 3553776
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Mercantile
Information & Telecommunication Technology Est (MITTE)
Sheikha Aisha Building
Al Salam Street
PO Box : 41175
Abu Dhabi
United Arab Emirates
Tel : (971-2) 6458909
Fax : (971-2) 6458907
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Al Mutawah
Trading Co LLC
Al Mutawah Building
Sultan Qaboos Street
Al Ghobra
PO Box : 17, Muttrah 114
Muscat
Tel : (968-24) 591871 / 591872 / 591521
Fax : (968-24) 592370
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Al Omaniya
Automobile Marketing LLC
PO Box : 2619
Seeb
Tel : (968-25) 560925
Fax : (968-25) 564309
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Arabian
Engineering Services LLC
PO Box : 6000
Muscat
Tel : (968-24) 561377
Fax : (968-24) 561631
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Bilad (Oman)
LLC
PO Box : 42006
Rusayl
Tel : (968-24) 626001
Fax : (968-24) 591098
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Electronics
Company LLC
PO Box : 8111
Muttrah
Tel : (968-24) 793741
Fax : (968-24) 796158
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Inma Company
Oman LLC
PO Box : 3760
Muscat
Tel : (968-24) 562100
Fax : (968-24) 562039
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Port Services
Corp SAOG
PO Box : 133
Muscat
Tel : (968-24) 714001
Fax : (968-24) 714007
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Qurum
Contractors LLC
PO Box : 7003
Muscat
Tel : (968-24) 562720
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Sogex Oman LLC
PO Box : 4739
Muscat
Tel : (968-24) 563055
Fax : (968-24) 564608
OPERATIONS
Activities: Engaged in the import and distribution of
building materials, timber and steel.
Import
Countries: Europe and GCC
countries.
Brand Names: AHUJA, ASIAN PAINTS, BERGER, CROMPTON
GREAVES, GROHE, KIMMCO and TRIMBLE.
Operating Trend: Steady
Subject has a
workforce of 75 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Riyal
Omani (RO)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales RO 3,690,000 RO 4,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial Bank of Oman SAOG
Muttrah Business District
PO Box : 1696, Ruwi 112
Muscat
Tel: (968) 24793225 / 24793226 /
24793228
Fax: (968) 24793229
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HSBC Middle
East
PO Box : 234
Muscat 113
Tel: (968) 24736041 / 24736042
Fax: (968) 24736043
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Bahwan Building
Materials LLC is a leading concern in Oman and a member of the Suhail &
Saud Bahwan group of companies, which is a major player in the Omani economy
with over 30 diversified concerns.
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 and the above credit figure is
admissible.
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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)