MIRA INFORM REPORT

 

 

Report Date :           

02.12.2011

 

IDENTIFICATION DETAILS

 

Name :

MUSTAFA SULTAN SCIENCE & INDUSTRY CO LLC

 

 

Registered Office :

Mustafa Sultan House, Mezzanine Floor, Al Khuwair Street, Way No. 3503, Al Khuwair District, P O Box 3340, Ruwi 112, Muscat

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

26.12.1994

 

 

Com. Reg. No.:

1/45833/7

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject provides a range of products and services for the industrial, biomedical, analytical and calibration industries

 

 

No. of Employees :

150 Persons

 

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$ 700,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Oman

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : MUSTAFA SULTAN SCIENCE & INDUSTRY CO LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Start Date                                             : 1988

Registration Date                                   : 26th December 1994

Commercial Registration Number                        : 1/45833/7

Chamber Membership Number                : 2248

Issued Capital                                        : RO 500,000

Paid up Capital                                      : RO 500,000

Total Workforce                                     : 150

Activities                                               : Subject provides a range of products and services for the industrial,

                                                              biomedical, analytical and calibration industries.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 700,000

Person Interviewed                                 : Sudair Naik, Finance Manager

 

COMPANY NAME

 

MUSTAFA SULTAN SCIENCE & INDUSTRY CO LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Mustafa Sultan House, Mezzanine Floor

Street               : Al Khuwair Street, Way No. 3503

Area                 : Al Khuwair District

PO Box             : 3340, Ruwi 112

Town                 : Muscat

Country             : Sultanate of Oman

Telephone         : (968) 24636190

Facsimile          : (968) 24479066

Email                : mssi@mustafasultan.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mustafa Abdulreda Sultan Al Lawati                                                    Managing Director

 

·       Akbar Abdulreda Sultan Al Lawati                                                       Director

 

·       Shabir Abdulreda Sultan Al Lawati                                                      Director

 

·       Abdulreda Sultan Al Lawati                                                                Director

 

·       Sunil R Mansukhani                                                                          General Manager

 

·       Sudair Naik                                                                                       Finance Manager

 

·       Hilal Al Kanbashi                                                                               Administration Manager

 

·       Naresh Bhawoj                                                                                  Commercial Manager – Biomedical

 

·       Anesh Srinivasan                                                                              Commercial Manager – Industrial

 

·       P Mohammed Aziz                                                                            Manager - Training & Measurement

 

·       J Subramaniam                                                                                 Manager - Industrial

 

·       Naresh Bhojwani                                                                               Manager - Medical

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1988, however subject was registered on 26th December 1994

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/45833/7

 

Chamber Member No. : 2248

 

Issued Capital              : RO 500,000

 

Paid up Capital            : RO 500,000

 

Name of Shareholder (s)

 

·       Mustafa Abdulreda Sultan Al Lawati

 

·       Akbar Abdulreda Sultan Al Lawati

 

·       Shabir Abdulreda Sultan Al Lawati

 

·       Abdulreda Sultan Al Lawati

 

 

AFFILIATED COMPANIES

 

·       Mustafa Sultan Enterprises LLC

     Mustafa Sultan House, 1st Floor

     Al Khuwair Street, Way No: 3503

     PO Box: 3340, Ruwi 112

     Muscat

     Tel: (968) 24636162

     Fax: (968) 24607763

     Email: msho@mustafasultan.com

 

·       Mustafa Sultan Electronics Co LLC

     Mustafa Sultan House, 1st Floor

     Al Khuwair Street, Way No: 3503

     PO Box: 3340, Ruwi 112

     Muscat

     Tel: (968) 24636071

     Fax: (968) 24603199

     Email: mslt@mustafasultan.com

 

·       Mustafa Sultan Security & Communication Systems Co LLC

     Mustafa Sultan House, 1st Floor

     Al Khuwair Street, Way No: 3503

     PO Box: 3340, Ruwi 112

     Muscat

     Tel: (968) 24636000 / 24636121

     Fax: (968) 24607345

     Email: mssc@mustafasultan.com

 

·       Mustafa Sultan Exchange Co LLC

     Al Habib Building, Ground Floor

     Ruwi Street

     PO Box: 2131, Ruwi 112

     Muscat

     Tel: (968) 24707025

     Fax: (968) 24706529

     Email: mjexchom@omantel.net.om

 

·       Mustafa Sultan Office Technology Co LLC

     Mustafa Sultan Office Technology Co Building

     Al Noor Street

     PO Box: 3340, Ruwi 112

     Muscat

     Tel: (968) 24709361

     Fax: (968) 24796108

     Email: msot@mustafasultan.com

 

·       Mustafa Sultan Telecommunications Co LLC

     Mustafa Sultan House, Ground Floor

     Al Khuwair Street, Way No: 3503

     PO Box: 3340, Ruwi 112

     Muscat

     Tel: (968) 24636051

     Fax: (968) 24604986

     Email: mstc@mustafasultan.com

 

·       Middle East Restaurants & Catering Co LLC

Qurum

     PO Box: 1164

     Hamriya 131

     Tel: (968) 24561500

     Fax: (968) 24567761

     Email: autorest@omantel.net.om

 

·       City Exchange LLC
Bur Dubai
PO Box: 29395

Dubai

United Arab Emirates
Tel: (971-4) 3937868 / 3937870
Fax: (971-4) 3939137
Email: citex@emirates.net.ae

 

 

OPERATIONS

 

Activities: The company provides products and services in the following areas:

 

·       Industrial

 

-  Oil and Gas, including Oil Movement & Storage

-  Water Distribution and Storage

-  Waste Water and Treatment

 

·       Training & Measurement

 

-  Educational & Training Institutions

     -  Telecommunications

     -  Power Generation & Transmission

     -  Aviation

     -  Defence

     -  Information Technology

     -  Networking

 

·       Biomedical

 

-  Hospitals

     -  Healthcare Centers/ Polyclinics

     -  Laboratories

 

·       Analytical

 

-  Environmental Testing

     -  Oil & Gas

     -  Research & Development

 

·       Calibration

 

-  PDO approved under JO7 category for Calibration

     -  Calibration and Repair under one roof

 

Import Countries: Europe, Japan and the United States of America.

 

International Suppliers:

 

·       Rusch AG                                        Germany

·       Endress & Hauser GmbH                   Germany

·       Agfa-Gevaert NV                               Belgium

·       Applied Imaging International Ltd        United Kingdom

·       Dako Cytomation A/S                        Denmark

·       Enraf B.V.                                        Netherlands

·       Mettler-Toledo GmbH             Switzerland

·       Teleste Educational Oy                      Finland

·       Tosoh Biosciences Ltd                      Japan

·       Fluke Networks                                 United States of America

 

Operating Trend: Steady

 

Subject has a workforce of approximately 150 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                RO 9,500,000                            RO 9,880,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Sudair Naik, Finance Manager

 

 

BANKERS

 

·       HSBC Bank Middle East

Muttrah Business District

PO Box: 240, Ruwi 112

Muscat

Tel: (968) 24700810 / 24799920 / 24799927

     Fax: (968) 24704241

 

·       National Bank of Oman Ltd

PO Box: 1011

Al Khuwair

Tel: (968) 24510007 / 24510543

 

·       Bank Muscat SAOG

     Al Khuwair Street

     PO Box: 6326, Ruwi 112

     Muscat

     Tel: (968) 24602274

     Fax: (968) 24698300

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              February 2005

Credit amount                                        52,000

Amount overdue                         0

Payment terms                                      180 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Pounds Sterling

 

 

GENERAL COMMENTS

 

Established in 1988, Mustafa Sultan Science & Industry Co LLC provides a range of products and services for the industrial, biomedical, analytical and calibration industries.

 

The company deals with a host of reputable international suppliers with no problems noted regarding the manner in which payment obligations are fulfilled.

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.65

UK Pound

1

Rs.81.06

Euro

1

Rs.69.51

 

 

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

Capability to overcome financial difficulties seems comparatively below average.

 

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

----

NB

New Business

----

 

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%)

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.