MIRA
INFORM REPORT
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Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZAWAWI TRADING COMPANY LLC |
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Registered Office : |
Way No. 651, PO
Box 58, Muscat 100 |
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Country : |
Oman |
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Date of Incorporation : |
1972 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject’s operations are performed through the following divisions: Automotive Division, Agricultural Division, Engineering Division, Electrical Division |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ZAWAWI TRADING COMPANY LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1972
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Total Workforce : 300
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,000,000
COMPANY NAME
ZAWAWI TRADING
COMPANY LLC
ADDRESS
Registered & Physical Address
Location : Way No. 651
PO Box : 58
Town : Muscat 100
Country : Oman
Telephone : (968) 24562077
Facsimile : (968) 24562747
Email : ztc@omzest.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Muscat.
KEY PRINCIPALS
Name Position
·
Dr
Omar Bin Abdul Moniem Al Zawawi Managing
Director
·
Micheal
Al Ajaz General
Manager
·
Rashid
Kathiwalla Operations
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1972
Legal Form :
Limited Liability Company –
LLC
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Name of Shareholder (s)
·
Dr
Omar Bin Abdul Moniem Al Zawawi
·
H.E. Qais
Abdul Moneim Al Zawawi
AFFILIATED COMPANIES
Subject belongs to the Omzest Group of Companies, which contains the
following concerns:
·
Al Khuwair
Development & Services Co SAOG
·
Modern
Exchange LLC
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Muscat Finance
Co Ltd (SAOG)
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Muscat
Insurance Company SAOC
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Muscat Life
Assurance Company SAOC
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Muscat National
Holding Company SAOG
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Oman
International Bank SAOG
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Oman
Securities' Portfolio Co SAOG
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Omzest
Investment Division
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Personal
Investments
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Personal Real
Estate Department
·
United
Business & Investment Co
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Wilayat
Holding Co
·
Wipro Holding
Co
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Mideast
Integrated Drilling & Well Services
·
National
Telephone Services Co LLC
·
Qurum
Contractors LLC
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Al Amal
Industries Co (SAOG)
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Al Wardha
Footwear & Leather Products Company
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Amiantit Oman
SAOC
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Areej
Vegetable Oils & Derivatives SAOG
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Bausher
Chemicals SAOG
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Decorative Glass
Manufacturing LLC
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Jyoti Sohar
Switchgear LLC
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Keemya Oman
SAOG
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Modern Poultry
Farms Company SAOG
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National
Heaters Industries Co LLC
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Oman
Agriculture Development Company SAOG
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Oman Fiber
Optic Co SAOG
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Oman Textile
Mills Co SAOG
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Oman Water
Pumps Mfg Co SAOG
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Oman Water
Treatment
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Omani Marble
Company LLC
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Protein
Products International LLC
·
Waleed
Associates LLC
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Riyam
Investment & Trading Est LLC
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Reem Batteries
& Power Appliances Co SAOC
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The National
Detergent Company SAOG
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Advertising
International Company SAOC
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Al-Rimah
Medical Centre LLC
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Circle Freight
International (Oman)
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Gulf of Oman
Services
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Gulf Seagull
Co
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Impact Films
LLC
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Maersk
Shipping Services & Co LLC
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Mezoon Travel
LLC
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Muscat
Contract Cleaning & Maintenance LLC
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Riyam Computer
Services LLC
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Waleed Catering
& Services Co LLC (WACASCO)
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YBA Kanoo
(Oman)
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Areej Business
Systems Co LLC
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Bishara
Establishment LLC
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General
Electronics & Trading Co
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Medical &
Scientific Supplies LLC
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Muscat Cold
Stores LLC
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National
Oilfield Supply Co LLC
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Office
Supplies Co LLC
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Oman
Mechanical Services Co Ltd LLC (OMSC)
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Oman Services
& Supply Organisation
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Omzest Beijing
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Omzest
Business Division
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Reem
Scientific & Energy Technologies & Trade LLC
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Riyam
Engineering & Services LLC
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Riyam
Marketing & Services Co LLC
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Waleed
Communications Co (WACOM) Ltd
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Waleed
Pharmacy LLC
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Waljat Modern
Technology
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Zawawi
Business Machines LLC
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Sadolin
Paints (Oman) Ltd (Spol)
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Automotive Division
This division deals in vehicles
ranging from passenger cars to commercial vehicles, as well as spare parts and
tyres. It also provides a comprehensive maintenance and after sales service.
· Agricultural Division
Engaged in the import and
distribution of tractors and agricultural machinery.
· Engineering Division
Under this division, the company undertakes
projects in the areas of communications, mechanical, marine and automation
works.
· Electrical Division
This
division deals in power generation and transmission line equipment, raychem
termination and joints.
Import
Countries: Germany, India
and the United States of America
International
Suppliers:
· Mercedes-Benz Germany
Subject has a
workforce of approximately 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
·
Oman Arab Bank
Al Khuwair Branch
PO Box : 5010, Ruwi
Muscat
Tel: (968) 24603520
Fax: (968) 24602948
·
Oman
International Bank
Al Jaame Street
P.O.Box : 4216
Muscat
Tel: (968) 24703614 / 24707328
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Zawawi Trading Company
LLC was established in 1972 and is a well known concern in the Omani market
with diversified operations.
It belongs
to the Omzest group of companies, a very large and well-known group that
contains some of the leading Omani companies.
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
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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%)