MIRA INFORM
REPORT
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Report Date : |
26.03.2011 |
IDENTIFICATION DETAILS
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Name : |
BAHWAN ELECTRONIC LLC |
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Registered Office : |
Suhail Bahwan Bldg, Ground & Mezzanine Floor Al Jaame Street Ruwi
Industrial Area P.O. Box : 169 |
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Country : |
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Year of Establishment : |
1979 |
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Com. Reg. No.: |
1/04506/2 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers,
wholesalers and retailers of electronics and electrical items, such as
refrigerators, televisions, microwaves and computer. |
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 : |
RO 600,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Company NAME
Bahwan Electronic LLC (Correct)
BAHWAN ELETRONIC LLC(NF) (Requested)
ADDRESS
Building : Suhail Bahwan Bldg, Ground & Mezzanine Floor
Street :
Area : Ruwi Industrial Area
P.O. Box : 169
Town :
Country :
Telephone: (968) 2479 3750 / 2479 3741 / 2479 0191 / 2479 7595 /
2479 3750 /
Fax : (968) 2479 6158
SENIOR COMPANY PERSONNEL
Name Position
1. Suhail Salem Abdullah Bahwan
Chairman
2. Ahmed Suhail Salem Bahwan Vice Chairman
3. Amal Suhail Salem Bahwan Director
4. Hind Suhail
5. Jayaprakash Menon
General
Manager
6. Riyad Sulaiman
Administrative
Manager
Total Employees : 100 (subject)
15,000 (group)
PAYMENTS
No complaints have been heard regarding payments from local suppliers
or banks.
Subject is a member of the well-established
Group established in 1965, a business with more than 20 companies
under its wing with an annual turnover of US DLRS 3,000,000,000
(2008) and a workforce of 15,000. Its activities include consumer
products, manufacturing, power generation, fertilizer, electronics,
pharmacy, shipping, building material, furnishing, travels, food
products, contracting and information technology.
We consider it is acceptable to deal with subject for LARGE amounts.
Opinion on maximum credit : RO 600,000 (associations inspire
confidence for higher amounts if
required)
Trade risk assessment :
Opinion on the credit figure of US DLRS 150,000 :
We consider the above figure to be within the company's financial
capabilities.
TRADE REFERENCES
NAME : IBM
Street : La Defense 10
Town : F-92061
Country :
NAME : AST EUROPE LTD
Building : AST House
Street :
Town : Brentford
County : Middlesex
Country :
NAME : C-ITOH AND CO LTD
Street : 5-1 Kita Aoyama 2 Chome
Country :
NAME : EMERALD SYSTEMS
CORPORATION
Street :
Town :
Country :
PRINCIPAL BANKERS
NAME : BANK
Branch : Main Branch
Street :
PO Box : 134
Town : Ruwi 112
Telephone: (968) 2470 3044 / 2478 8638 / 2470 8653
Fax : (968) 2478 9886 / 2478 8638
The Company also has an account with the following banks:
1. HSBC Bank
Main branch
Telephone: (968) 2479 9920
Fax : (968) 2470 4241
2. Oman International Bank
Main Branch
Off
Telephone: (968) 2468 2500
Fax : (968) 2468 2800
3. Standard Chartered Bank
Main branch
Bait
Telephone : (968) 24773535 /
24773666
Fax : (968) 24704377 / 24797184
4. Oman Arab Bank (SAOG)
Main branch
Telephone : (968) 2470 0161 /
2479 1768
Fax : (968) 2479 7736
FINANCIAL INFORMATION
Private companies in
The following information applies to Bahwan Trading Company LLC,
subject’s affiliate :
Sales Turnover : RO 30,000,000
- 2006 - exact
: RO 33,000,000
- 2007 - exact
: RO 29,500,000
- 2008 - exact
: RO 30,000,000
- 2009 – exact
: RO 50,000,000
– 2010 - approx
Net Profit : not given but
stated to be 10-15% of the sales
turnover.
Financial year ends 31 December.
The following information applies to Ebin Rushed Pharmacy Co LLC,
subject’s affiliate:
Sales Turnover : RO 2,000,000 - 1990 - exact
: RO 2,500,000 -
1991 - exact
: RO 2,900,000 -
1992 - exact
: RO 3,000,000 -
1993 - exact
: RO 3,250,000 -
1994 - exact
: RO 3,500,000 - 1995 - exact
: RO 3,800,000 -
1996 - exact
: RO 4,000,000 -
1997 - exact
: RO 3,900,000 -
1998 - exact
: RO 4,000,000 -
1999 - exact
: RO 4,100,000 -
2000 - exact
: RO 4,200,000 -
2001 - approx
: RO 4,500,000 -
2002 - approx
: RO 4,500,000 -
2003 - exact
: RO 4,500,000 -
2004 - approx
: RO 5,000,000 -
2005 - exact
: RO 5,000,000 - 2006 - exact
: RO 5,500,000 -
2007 - exact
: RO 6,000,000 –
2008 – approx
: RO 7,600,000 –
2009 - exact
: RO 8,500,000 –
2010 - exact
Net Profit : not given but
stated to be profitable
Capital Investment : RO 500,000 - estimated
Financial year ends 31 December.
The following financial information applies to Inma Co Oman LLC,
subject’s affiliate:
Sales Turnover : RO
2,750,000 - 2006 - approx
: RO 3,000,000 - 2007 - exact
: RO
5,000,000 - 2008 - exact *
: RO
5,200,000 - 2009 - exact
: RO
5,500,000 – 2010 - exact
Net Profit : not given
but stated to be 6% of the sales
* A significant increase in sales turnover in 2008 was attributed to
favourable market conditions and
expansion of the business.
Financial year ends 31 December.
The following information applies to the Suhail Bahwan Group (latest
available) :
Sales Turnover : US DLRS
4,000,000,000 - 2007 - exact
: US DLRS
5,500,000,000 - 2008 - exact
: US DLRS
6,500,000,000 - 2009 - exact
Net Profit : not given
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 1979
History : Subject was originally established as a division of Bahwan
Trading Company LLC in
1979 which was by the two brothers
Sheikh Suhail Bahwan and
Sheikh Saud Bahwan who previously
owned a group of
companies named as Bahwan Group of
Companies established in
1965. In September 2002, the two
brothers split the group
and each one took over certain
companies.
On 28 April 2008,
subject became a separate legal entity and
was converted into a
Limited Liability Company under the
present name and
shareholding structure.
C.R. No. : 1/04506/2 (issued on 28 April 2008 / expiry date : 20 April
2013)
Chamber of Commerce Membership No.: 2118 (issued on: 28 April 2008,
expiry date: 27 April 2011)
Authorised Capital : RO 1,000,000
Paid up Capital : RO 1,000,000
Limited Liability Company with the following shareholders :
1. Suhail
(Omani national / born in
1937)
2. Ahmed Suhail Salem Abdullah Bahwan
(son of the above)
3. Amal Suhail
(daughter of the above)
4. Hind Suhail
(daughter of the above)
The exact shareholding percentage was not disclosed.
Affiliated companies of Bahwan Eletronic LLC :
Associates
Subject is a member of the Suhail Bahwan Group headed by :
Suhail Bahwan Group (Holding) LLC
Bahwan Business Centre
Telephone: (968) 2479 3741
Fax : (968) 2479 6158
E-Mail :
talwar-finance@suhailbahwangroup.com
C.R. No. : 1/70533/4
Other members of the group include :
1. Bahwan Trading Co LLC
Suhail Bahwan Bldg, Ground
& Mezzanine Floor
Opp. Haffa House Hotel
Ruwi
Telephone: (968) 2479 3750 /
2479 3741
Fax : (968) 2479 6158
2. Bahwan Contracting Company LLC
Telephone: (968) 2459 1092
Fax : (968) 2459 1098
3. Bahwan Travel Agencies LLC
Telephone: (968) 2470 4455
Fax : (968) 2470 0483
4.
Wadi Al Kabir, Muttrah
Telephone: (968) 2479 3741
Fax : (968) 2478 8294
E-Mail : ssbbm@omantel.net.om
(Formerly Known As : Suhail And
Matetials LLC)
5. Inma Co
Airport Road
Near Burj Al Sahwa Roundabout,
Muwaleh Area
Telephone: (968) 2455 2455
Fax : (968) 2455 2555
6. Al Gaddag Engineering LLC
Telephone: (968) 2471 2470
7. National Crushers
Telephone: (968) 2459 1461
8. Bahwan Engineering Group
Telephone: (968) 2459 7510
Fax : (968) 2459 7511
9. Amiantit Oman SAO
Telephone: (968) 2462 6600
Fax : (968) 2462 6611
(Joint Venture of Omzest Group
of Companies and Suhail and
Saud Bahwan Group of
Companies)
10. Arabian Caravans Furnishing and Trading Co LLC
Telephone: (968) 2478 6898
Fax : (968) 2479 6138
11. Al Mutawah Trading
Telephone: (968) 2459 1871
Fax : (968) 2459 2370
12. Arab Merchants Co. LLC
Ruwi 112
Telephone: (968) 2459 1521
Fax : (968) 2459 4262
13. International Equipment and Contracting Co LLC (IECC)
Telephone: (968) 2471 4482 /
2479 8140
Fax : (968) 2479 3755
14. Bahwan IT LLC
Bahwan Business Centre
Telephone: (968) 2466 0066
Fax : (968) 2466 0099
15. Bahwan Project & Telecoms
Telephone: (968) 2479 3741
Fax : (968) 2479 6158
16. Bilad (
Rusayl 124
Telephone: (968) 2444 6001
Fax : (968) 2444 6237
17. Sogex (
Ruwi 112
Telephone: (968) 2457 1054
Fax : (968) 2457 1008
18. Middle EastShipping & Transport Co. LLC
Telephone: (968) 2479 0024
Fax : (968) 2478 6429
19. Sohar International Urea & Chemical Industries
Ruwi 112
Telephone: (968) 2456 2631
Fax : (968) 2456 2731
20. Al Jenaibi International Automobiles LLC
(2 divisions BMW & Nissan)
Telephone: (968) 2456 7108
Fax : (968) 2457 1134
21. Suhail Chenical Industries LLC
Ruwi 112
Telephone: (968) 2478 8752
Fax : (968) 2479 6158
22. Delta Co Ltd LLC
Muttrah Central Business
District
Ruwi 112
Telephone: (968) 2470 8483 / 2479 3750 /
Fax :
(968) 2470 8502
E-Mail :
mbiani@suhailbahwangroup.com
23. Bahwan Projects & Telecoms LLC
Muttrah
Telephone: (968) 2479 3741
(ext 600)
Fax : (968) 2479 7595
24. Ebin Rushed Pharmacy Co LLC
Bahwan Business Centre CBD, Building
No. 2716, 4th Floor
Bank Street
Central Business District,
Opposite Oman Arab Bank, Ruwi
Telephone: (968) 2479 6218 /
2479 3741 / 2478 8004
Fax : (968) 2470 1547
ACTIVITIES
The Company is involved in the following activities :
Importers, wholesalers and retailers of electronics and electrical
items, such as refrigerators, televisions, microwaves and computer.
Principal Agencies include: Toshiba, Akai, IBM, Gibson, Seiko,
Ignis, Sony Ericsson, Carrier,
Tempstar,
Napro,
Asset, Cooline,
electronics, Dolphin, Ausonia, Daewoo,
Titan,
Benq, VIP, Dometic,
Casio.
Imports from
The company does not export, all sales are domestic.
FACILITIES
The Company has the following facilities :
Owned premises comprising administrative offices with storage
facilities located at the heading address as well as several branch
offices located elsewhere in
SPECIAL NOTE
You enquired on: Bahwan Eletronic LLC(Nf). Please note that subject's
correct name is as per heading.
Interviewed: Riyad Sulaiman (Administrative Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
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|
1 |
Rs.71.91 |
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Euro |
1 |
Rs.63.28 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.