MIRA INFORM REPORT

 

 

Report Date :           

16.03.2011

 

IDENTIFICATION DETAILS

 

Name :

BAHWAN ELECTRONICS LLC

 

 

Registered Office :

Bahwan Business Centre, 2nd Floor, Ruwi, P O Box 169, Muscat 100

 

 

Country :

Oman

 

 

Date of Incorporation :

28.04.2008

 

 

Com. Reg. No.:

1/04506/2

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of electrical and electronic products

 

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$ 1,500,000

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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                                     : BAHWAN ELECTRONICS LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 28th April 2008

Commercial Registration Number            : 1/04506/2

Chamber Membership Number                : 160

Issued Capital                                        : RO 150,000

Paid up Capital                                      : RO 150,000

Total Workforce                                     : 180

Activities                                               : Distributors of electrical and electronic products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 1,500,000

 

 

 

COMPANY NAME

 

BAHWAN ELECTRONICS LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Bahwan Business Centre, 2nd Floor

Area                 : Ruwi

PO Box             : 169

Town                 : Muscat 100

Country             : Oman

Telephone         : (968) 24793758 / 24793741 / 24831187 / 24796144

Facsimile          : (968) 24796158 / 24700442

Mobile               : (968) 92425202

Email                : ceg@suhailbahwangroup.com

 

Premises

Subject operates from a small suite of offices that are owned and located in the Central Business Area of Muscat.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Sheikh Suhail Salim Bahwan                                                              Managing Director

 

·       Ahmed Suhail Salim Bahwan                                                             Director

 

·       Jay Parkash Menon                                                                           General Manager

 

·       Porshuraman Ayer                                                                            Assistant General Manager

 

·       Ajay Talwar                                                                                       Finance Manager

 

·       Dr Goss Ahmed                                                                                Legal Advisor

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28th April 2008

 

History                         : Subject merged with “Electronic Company LLC” in May 2010.

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/04506/2

 

Chamber Member No. : 160

 

Issued Capital              : RO 150,000

 

Paid up Capital            : RO 150,000

 

Name of Shareholder (s)                                           Percentage

 

·       Suhail Bahwan Group Holding LLC                              100%

Muscat

     Tel: (968) 24793750

 

 

AFFILIATED COMPANIES

 

·       Al Gaddag Engineering LLC

PO Box: 168

Muscat

Tel: (968) 24712470

 

·       Amiantit Oman SAO

PO Box: 1417

Seeb

Tel: (968) 24626600

 

·       Arab Merchants Co LLC

PO Box: 6228

Muscat

Tel: (968) 24701221

 

·       Arabian Car Marketing Co LLC

PO Box: 169

Muscat

Tel: (968) 24793741

Fax: (968) 24796158

 

·       Arabian Caravans Furnishing & Trading Co LLC

PO Box: 169

Muscat

Tel: (968) 24797596

Fax: (968) 24562089

 

·       Auto Parts Centre LLC

PO Box: 2619

Muscat

Tel: (968) 27564308

Fax (968) 27564309

 

·       Automobile Automotive Centre

PO Box : 6168

Muscat

Tel: (968) 27561377

Fax: (968) 27561631

 

·       Bahwan Engineering Company LLC

PO Box: 169

Muscat

Tel: (968) 24797581

Fax: (968) 24797169

 

·       Bahwan Contracting Company LLC

PO Box: 4098

Muscat

Tel: (968) 27591092

Fax: (968) 27591098

 

·       Bahwan Foods (Khalijana) Co LLC

PO Box: 3711

Muscat

Tel: (968) 27592492

 

·       Bahwan Travel Agencies LLC

PO Box: 282

Muscat

Tel: (968) 24740455

Fax: (968) 24700483

 

·       Delta Ltd

PO Box: 4537

Muscat

Tel: (968) 24708483

 

·       Ebin Rushed Pharmacy Co LLC

PO Box: 169

Muscat

Tel: (968) 24701557

Fax: (968) 24701547

 

·       International Equipment & Contracting Co LLC

PO Box: 169

Muscat

Tel: (968) 24714482

Fax: (968) 24793755

 

·       National Crushers

PO Box: 961

Muscat

Tel: (968) 27591461

 

·       Rent-A-Car LLC

PO Box: 282

Muscat

Tel: (968) 27561427

Fax: (968) 24700483

 

·       Utmost Building Materials Co LLC

Al Burj Building, 1st Floor

Deira

PO Box: 55014

Dubai

United Arab Emirates

Tel: (971-4) 3553883

Fax: (971-4) 3553776

 

·       Gulf Mercantile Trading

Al Burj Building, 1st Floor

Deira

PO Box: 55014

Dubai

United Arab Emirates

Tel: (971-4) 3553883

Fax: (971-4) 3553776

 

·       Mercantile Information & Telecommunication Technology Est (MITTE)

Sheikha Aisha Building

Al Salam Street

PO Box: 41175

Abu Dhabi

United Arab Emirates

Tel: (971-2) 6458909

Fax: (971-2) 6458907

 

·       Al Omaniya Automobile Marketing LLC

PO Box: 2619

Seeb

Tel: (968) 27560925

Fax: (968) 27564309

 

·       Arabian Engineering Services LLC

PO Box: 6000

Muscat

Tel: (968) 27561377

Fax: (968) 27561631

 

·       Bilad (Oman) LLC

PO Box: 42006

Rusayl

Tel: (968) 24626001

Fax: (968) 24591098

 

·       Inma Company Oman LLC

PO Box: 3760

Muscat

Tel: (968) 27562100

Fax: (968) 27562039

 

·       Port Services Corp SAOG

PO Box: 133

Muscat

Tel: (968) 24714001

Fax: (968) 24714007

 

·       Qurum Contractors LLC

PO Box: 7003

Muscat

Tel: (968) 27562720

 

·       Sogex Oman LLC

PO Box: 4739

Muscat

Tel: (968) 27563055

Fax: (968) 27564608

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of electrical and electronic products, including televisions, cameras  and mobile telephones.

 

Import Countries: Europe and the Far East

 

Brand Names: TOSHIBA, SEIKO, CASIO, IGNIS, SONY ERICSSON, CARRIER, TEMPSTAR, NAPRO, ASSET,

COOLINE, COMING, DOLPHIN, AUSONIA, DAEWOO, TITAN, BENQ, VIP, DOMETIC and CORBY.

 

Subject has a workforce of approximately 180 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

 

·       Bank Muscat Al Ahli Al Omani SAOG

Ruwi Main Branch

     PO Box: 6326

     Muscat

     Tel: (968) 24561399 / 24708543

     Fax: (968) 24561036

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.

 

Please note that the subject’s correct address is as given in the report above and not PO Box 1111, Muttrah 114.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.15

UK Pound

1

Rs.72.59

Euro

1

Rs.62.95

 

 

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

 

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.