MIRA INFORM REPORT

 

 

Report Date :

04.01.2011

 

IDENTIFICATION DETAILS

 

Name :

TRADE LINKS & SERVICES COMPANY LLC

 

 

Registered Office :

Trade Links Building, Behind Oman Arab Bank, P O Box  2901, Ruwi 112, Muscat

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

01.04.1977

 

 

Com. Reg. No.:

1055020

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distribution and retail of electrical materials and equipment

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 1,300,000

Status :

Good

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                                     : TRADE LINKS & SERVICES COMPANY LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 1st April 1977

Commercial Registration Number            : 1055020

Chamber Membership Number                : 987

Issued Capital                                        : RO 555,000

Paid up Capital                                      : RO 555,000

Total Workforce                                     : 120

Activities                                               : Distribution and retail of electrical materials and equipment

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,300,000

Person Interviewed                                 : T Rajan, Finance Manager

 

COMPANY NAME

 

TRADE LINKS & SERVICES COMPANY LLC

 

 

company address

 

Registered & Physical Address

Building             : Trade Links Building

Area                 : Behind Oman Arab Bank

PO Box             : 2901, Ruwi 112

Town                 : Muscat

Country             : Sultanate of Oman

Telephone         : (968) 24590762 / 24590581 / 24590598 / 24706775 / 24706776 / 24706779

Facsimile          : (968) 24590541 / 24590580 / 24701514

Mobile               : (968) 99257812

Email                : tls.oman@gmail.com

 

Premises

Subject operates from a medium sized suite of offices, a showroom and a warehouse covering an area of 35,000 square feet that are rented and located in the Suburban Business Area of Muscat.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Ruwi                                                                                                Showroom premises

Tel: (968) 24707715

       Fax: (968) 24705538

 

·       PO Box: 2971                                                                                   Showroom premises

Salalah 211

       Tel: (968) 25297018

       Fax: (968) 25297018

 

·       PO Box: 997                                                                                     Showroom premises

Nizwa 611

Tel: (968) 24410352

Fax: (968) 24410352

 

·       PO Box: 319                                                                                     Showroom premises

Al Buraimi 512

Tel: (968) 24653782

Fax: (968) 24653783

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ali Bin Mohamed Bin Mirza                                                                Managing Director

 

·       Tariq Ali Bin Mohamed Bin Mirza                                                        Director

 

·       Hani Ali Bin Mohamed Bin Mirza                                                        Director

 

·       M M Jalistagi                                                                                    General Manager

 

·       T Rajan                                                                                            Finance Manager

 

·       Fahd Sobhi                                                                                       Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st April 1977

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1055020

 

Chamber Member No. : 987

 

Issued Capital              : RO 555,000

 

Paid up Capital            : RO 555,000

 

Name of Shareholder (s)

 

·       Ali Bin Mohamed Bin Mirza

 

·       Tariq Ali Bin Mohamed Bin Mirza

 

·       Hani Ali Bin Mohamed Bin Mirza

 

 

AFFILIATED COMPANIES

 

·       Oman Plastic Bags Company Ltd

PO Box: 5993

     Muscat

     Tel: (968) 24591765

     Fax: (968) 24601895

 

·       Chainlink Fencing Co LLC

PO Box: 42007

     Muscat

     Tel: (968) 24626024

     Fax: (968) 24626037

 

·       Civil Contracting Co LLC

Middle East Traders Building, Ground Floor

Qaboos Street

Ghala

PO Box: 4321

Muscat

       Tel: (968) 24590762

Fax: (968) 24590541

 

·       National Electrical Industries Co LLC

Maabela Industrial Area

     PO Box: 1102

     Seeb 111

     Tel: (968) 24590762

     Fax: (968) 24590541

 

 

OPERATIONS

 

Activities: Engaged in the distribution and retail of electrical materials and equipment, such as transformers, cables, electrical accessories and electronic measuring equipment, as well as waterproofing, interior decoration, lighting, fire protection and fire alarms.

 

Import Countries: United Kingdom, Japan and the United States of America

 

Operating Trend: Steady

 

Subject has a workforce of 120 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/08:                Year Ending 31/12/09:

 

Total Sales                                RO 29,185,000                          RO 34,182,749

 

Net Profit                                               -                                   RO   2,834,786

 

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

 

The above figures were provided by Mr T Rajan, Finance Manager

 

 

BANKERS

 

·       Bank of Oman, Bahrain & Kuwait

Main Branch

     PO Box: 4708

     Muscat

     Tel: (968) 24701528

 

·       HSBC Middle East

Main Branch

     PO Box: 701528

     Muscat

     Tel: (968) 24799920

     Fax: (968) 24704241

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.44.67

UK Pound

1

Rs.69.45

Euro

1

Rs.59.37

 

 

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.