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MIRA
INFORM REPORT
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Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
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Name : |
KHIMJI RAMDAS AND CO LLC (KR) |
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Registered Office : |
Khimji House Muttrah High Street Greater Muttrah PO Box 19 Muscat 100 |
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Country : |
Sultanate of Oman |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.12.1975 |
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Com. Reg. No.: |
1/02085/4, Muscat |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject operates several divisions like Furniture Division (Operates as Khimji Furniture Mart), Shipping
Division, Automotive Division & Workshop, General Products Division,
Commodity Division, Electrical Division |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Oman |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : KHIMJI RAMDAS AND CO LLC (KR)
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Start Date : 1870
Registration Date : 3rd December 1975
Commercial Registration Number : 1/02085/4, Muscat
Issued Capital : RO 2,000,000
Paid up Capital : RO 2,000,000
Total Workforce : 2,500
Activities : Subject operates several divisions (see below for details)
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,000,000
COMPANY NAME
KHIMJI RAMDAS AND CO LLC (KR)
ADDRESS
Registered & Physical Address
Building : Khimji House
Street : Muttrah High
Street
Area : Greater
Muttrah
PO Box : 19
Town : Muscat 100
Country : Sultanate of
Oman
Telephone : (968) 24795901
/ 24706893 / 24791988
Facsimile : (968) 24795988
/ 24705122 / 24708819
Email : khimjis@gto.net.om
/ khimjis@omantel.net.om
/ krbmd@omantel.net.om
Premises
Subject operates from a large suite of offices that are owned and
located in the Central Business Area of Muscat.
Branch Office (s)
· Salalah
PO Box: 18035
Tel: (968)
23290736 / 23290865
Fax: (968)
23295293
· Sur
PO Box: 30163
Tel: (968)
25440214
Fax: (968)
25440218
· Buraimi
Tel: (968)
25653421
Fax: (968)
25653421
· Sohar
PO Box: 12519
Tel: (968)
26840235
Fax: (968)
26840232
· Nizwa
PO Box: 27075
Tel: (968) 25410145
Fax: (968)
25410094
· Ibri 611
PO Box: 575
Tel: (968)
25489476
Fax: (968)
25489476
· Ibra 411
PO Box: 163
Tel: (968)
25470490
Fax: (968)
25471636
KEY PRINCIPALS
Name Position
· Kanaksi Gokaldas
Khimji Managing
Partner
· Ajay Mathradas Khimji Partner
· Pankaj Kanaksi
Khimji Partner
· Nailesh Kanaksi
Khimji Partner
· Anil Mathradas
Khimji Partner
· Pankaj Kanaksi
Khimji General
Manager
· Pratap Ashar Finance
Manager
· S. Ananthakrishnan Manager
– Furniture Division
· M. C. Jose Manager
– Shipping Division
· Mahesh D. Jesrani Manager
– Automotive Division
· Bhupendra D.
Jesrani Manager
– General Products Division
· Vinod D. Soni Manager
– Commodity Division
· M. Chengappa Manager
– Building Materials Division
· Lazard Rodrigues Manager
– Electrical Division
· Madhursinh Jesrani Manager
– Watch Division
· Mohamed Zameer Manager
– Computer Systems Division
· Chandrasen Shah Manager
– MEGA Store Division
· Vincent Rodrigues Manager
– Sports & Leisure Division
· Emil Moukarzel Manager
– Cigarettes Division
· Umesh A. Khimji Manager
– Corporate Services
Profile on Pankaj Kanaksi Khimji
Pankaj Kanaksi Khimji acts General Manager, corporate operations, for
the Khimji Ramdas Group. He was born in 1961 and was educated at the exclusive
Institut Le Rosey in Switzerland and then in the UK. He is a keen sportsman and
especially enjoys cricket and horse riding. He is a major shareholder and board
member of Dubai-based company Strategic Food International - engaged in the
manufacture of biscuits and wafers - and Roto Packaging Materials Industry. He
is also president of Al Arkan Fisheries, a unit engaged in the export of fish
products, and is a board member of Oryx Joint Investment Account, a financial
investment company listed in both London and Muscat.
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s
operations date back to 1870, however it was registered under the current style
on
3rd
December 1975
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/02085/4, Muscat
Issued Capital : RO 2,000,000
Paid up Capital : RO 2,000,000
Name of
Shareholder (s)
· Kanaksi Gokaldas
Khimji
· Pankaj Kanaksi
Khimji
· Nailesh Kanaksi
Khimji
· Ajay Mathradas
Khimji
· Anil Mathradas
Khimji
AFFILIATED COMPANIES
· Khimji Permoglaze
(Oman) LLC
Rusayl Industrial
Estate, Plot 23-26
PO Box: 3755, Ruwi
Muscat 112
Oman
Tel: (968)
24626106
Fax: (968)
24626107
· Khimji Ramdas and
Sons
PO Box: 3701
Dubai
United Arab
Emirates
Tel: (971-4)
531484 / 436484
Fax: (971-4)
531564
· Asha Advertising
& Marketing Agency
Muscat
Oman
Tel:
(968) 24707104
Fax:
(968) 24706256
· Asha Enterprises
LLC
75, Central
Business District
PO Box: 6275, Ruwi
Muscat
Oman
Tel: (968)
24708049 / 24707104 / 24793822
· United Travel LLC
Muscat
Oman
Tel:
(968) 24703303
· Universal Freight
Services Company
PO Box: 1093,
Jibroo
Muscat
114
Oman
Tel:
(968) 24701757
Fax:
(968) 24702959
Email: krship@gto.net.om
· Heritage Hotel LLC
Muscat
Oman
Tel:
(968) 24796404 / 24791815
Fax:
(968) 24795988
· Blue Eagle
Shipping & Insurance Agencies LLC
Muscat
Oman
Tel:
(968) 24790841
Fax:
(968) 24702959
Email: krship@gto.net.om
· Shamal Sea &
Air Freight LLC
Dubai
United
Arab Emirates
Tel:
(971-4) 521616
Fax:
(971-4) 522440
OPERATIONS
Activities: Subject’s activities are performed by the following divisions :
- Furniture Division (Operates as Khimji Furniture Mart)
Address : Rex
Road
Greater
Muttrah
PO
Box: 19
Muscat
Tel:
(968) 24703429 / 24706863
Fax:
(968) 24701764 / 24795988
Activities : Engaged in the distribution and retail
of home and office furniture such as dining and bedroom furniture, sofas, sofa
beds and desks, as well as security and storage systems.
Suppliers : Godrej Storwel Business Group India
- Shipping Division
Address : Muttrah
Business District
Greater
Muttrah
PO
Box: 19
Muscat
Tel:
(968) 24707236 / 24798903
Fax:
(968) 24702959
Activities : Engaged as shipping agents offering a
complete shipping service, specialising in cargo movements, sea-air cargo
handling, liner agency, tramp vessel agency, tanker Operations, passenger
vessel handling, naval vessel handling, common carrier feeder vessel agency,
chartering brokers, P&I club agency, shipchandling, stevedoring, freight
forwarding, packaging & removals, customs services, transportation, project
handling, survey and inspection services, calibration and non destructive test,
- Automotive Division & Workshop
Address : Bait
Al Falaj Street
Al
Wadi Al Kabir
PO
Box: 19
Muscat
Tel:
(968) 247717822 / 24504306
Fax:
(968) 247714637
Activities : As well as operating a fully equipped
repair workshop, this division distributes automotive spare parts (such engine
and transmission equipment) and purpose built vehicles for desert
transportation and military use.
Suppliers : Hummer United
States of America
Oshkosh United States of America
- General Products Division
Address : Building
No. 831, Ground Floor
88,
Al Noor Street
Greater
Muttrah
PO
Box: 19
Muscat
Tel:
(968) 24706353 / 24795231
Fax:
(968) 24786238
Activities : Under this division, subject specialises
in the distribution of electronic equipment and devices, including aerials and
antennas, telecommunication reception equipment, air-conditioning systems, as
well as currency and coins electronic counting machines.
- Commodity Division
Address : Al
Hasag Building, Ground Floor
Muttrah
High Street
PO
Box: 19
Muscat
Tel:
(968) 24712126 / 24713225
Fax:
(968) 24795988 / 24713127
Activities : This was the first division of Khimji
Ramdas to be established. It deals mainly in foodstuff and other consumable
items, including rice, sugar, milk powder, coffee, pulses, spices, ghee oil,
canned food, biscuits, confectionery and dairy products.
Suppliers : Amul India
- Electrical Division
Address : Ruwi
High Street
PO
Box: 19
Muscat
Tel:
(968) 24708819 / 24703213
Fax:
(968) 24706893
Activities : Distributors of lighting equipment,
cables, cable trays, fans and aircirculators, PVC Pipes & trunking, G.I.
Pipe, Bulbs and Tubes, switches and accessories.
- Watch Division
Address : Samayil
Street
Ruwi
PO Box: 19
Muscat
Tel:
(968) 24703142 / 24798689
Fax:
(968) 24796045
Activities : Retailers of watches and clocks,
jewellery, fashion items and gift ware.
Brand Names : CARTIER, CHANEL, CHOPARD, DELANEAU, I.W.C.,
ORIS, PIAGET, TUDOR, and GERALD GENTA
- Computer & Communications Systems Division
Address : Muttrah
Business District
PO
Box: 19
Muscat
113
Tel:
(968) 24790925
Fax:
(968) 24701127
Activities : Wholesalers and retailers of personal
computers, fibre optics network, structured cabling, computer peripherals,
mobile communication equipment and pagers.
This division was
awarded a US$1.1 million contract to provide equipment and technical support to
upgrade Oman's 11 domestic satellite telephone and video stations from analogue
to digital transmission.
Brand Names : MOTOROLA, COMPAQ, ELITE, CASIO, SAGEM and
TEKLOGIX
- Khimji Ramdas Building Materials Division
Address : Al
Noor Street
Ruwi
PO
Box: 19
Muscat
Tel:
(968) 24705133 / 24703213 / 24799680
Fax:
(968) 24706893
Management : M.
Chengappa Division Manager
Sounda
Rajan Commercial Manager
Mahesh
Thaker Sales Manager
Activities : The Building Materials Division started
operations in 1970 and specialises in the distribution of a wide range of building
materials, construction chemicals, waterproofing, scaffolding, timber plywood,
ceramic tiles, paints, sanitary-ware, kitchen cabinets and power tools.
It also provides a
waterproofing service which includes a fully incorporated supply and fixing system.
The division has also undertaken numerous works involving the supply and fixing
of scaffolding.
Suppliers : Roca Spain
Polyflor United Kingdom
Shire United Kingdom
General Ceramics United Arab Emirates
Muthoot India
Franke South
Africa
Wave Oman
H & R Johnson United Kingdom
James Halstead United Kingdom
Grace Services United Kingdom
Ruberiod United
Kingdom
Access International United Kingdom
Yale United
Kingdom
Al Shams Oman
Krishna Vinyl India
Formica Spain
Schock Germany
Dermabit Saudi
Arabia
D’Line Denmark
Godrej India
- Khimji Ramdas General Stores (Operates as Khimji MEGA Store)
Address : Ruwi
Street
PO
Box: 19
Muscat
Tel:
(968) 24796161 / 24708075
Fax:
(968) 24709942
Activities : Retailers of general merchandise and
consumer products, including photographic equipment, cosmetics, crystal-ware,
garments, household appliances, kids wear, linen, perfumes and toiletries,
sunglasses, tableware, travel accessories and writing instruments.
Suppliers : Nikon Japan
Slik Japan
- Sports & Leisure Division
Address : Shati Al Qurum
PO Box: 19
Muscat
Tel:
(968) 24793725
Fax:
(968) 24793852
Activities : This division specialises in the retail
of boats, boat equipment and supplies, diving equipment, flags and banners,
marine craft, special marine shoes as well as a wide range of sportswear and
accessories.
- Cigarettes Division (MARLBORO)
Address : Muttrah Business Area
PO Box: 19
Muscat
Tel:
(968) 24798590
Fax:
(968) 24701489
Activities : Tobacconist and cigarette manufacturing
and packaging under the brand name of Marlboro from Philip Morris.
- Industrial Machinery & Tools Division
Address : PO
Box: 19
Muscat
Tel:
(968) 24714793 / 24715576
Fax:
(968) 24717845
Activities : Distributors of automotive and
industrial hand tools, pneumatic tools, measuring instruments, garage
equipment, machine tools, cleaning equipment, lubrication equipment, air
compressors and industrial chemicals.
Brand Names : SNAP ON, KARCHER, USAG
- Khimji Pharmacy
Address : PO
Box: 19
Muscat
Tel:
(968) 24795901
Fax:
(968) 24795988
Activities : Operators of a pharmacy and
distributors of pharmaceuticals, healthcare products, medicines and cosmetics.
- Construction Division
Address : PO
Box: 19
Muscat
Tel:
(968) 24713333
Fax:
(968) 24715322
Activities : This division undertakes all types of civil construction
work.
- Pizza Hut Division
Address : Muttrah
Business District
PO
Box: 19
Muscat
113
Tel:
(968) 24715310
Fax:
(968) 24798488
Activities : This division operates 14 restaurants under licence from
Pizza Hut
and specialises in
fast food to take away and eat in.
Khimji Ramdas has been awarded the ISO9002 certificate for its corporate
headquarters operations as well as those of the Computer & Communications
Systems Division.
Import Countries: Europe, the United States of America and the Far
East.
International Suppliers:
· AKZO Coating Plc United Kingdom
· H & R Johnson
Tiles Ltd United
Kingdom
· Beaver
Construction Supplies Ltd United
Kingdom
· Proctor &
Gamble AG Switzerland
· Rolex Switzerland
· Alfred Karcher
GmbH and Co Germany
· Kymmene Schauman
Wood Germany
· Samsonite Corp United States of
America
Operating Trend: Steady
Subject has a workforce of approximately 2,500 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
21,800,000 RO
22,500,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Bank of Baroda
Greater Muttrah
Branch
PO Box: 7231
Muscat
Tel: (968) 24712636
·
HSBC Middle East
Greater Muttrah Branch
PO Box: 3239, Ruwi
Muscat
Tel: (968)
24799920
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of
transaction February 2002 May 2002 July 2004
Credit amount 231,000 78,390 68,200
Amount overdue 0 0 0
Payment terms 60
days 30 days 30 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record Prompt Prompt Prompt
Currency Euros Canadian Dollars Canadian Dollars
GENERAL COMMENTS
Khimji Ramdas and Co LLC (KR) is an old and well-established business,
trading since 1870 with nothing detrimental heard regarding the manner in which
payment obligations are conducted. Our local trading sources express favourable
comments and are of the opinion that the subject will not enter into any
financial trade commitment in which they would not see their way clear to
fulfil. As such the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.94 |
|
|
1 |
Rs.72.12 |
|
Euro |
1 |
Rs.63.66 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.