MIRA INFORM REPORT

 

 

Report Date :

09.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BAHWAN BUILDING MATERIALS LLC

 

 

Registered Office :

Bayt Al Falaj Street, Al Wadi Al Kabir, P O Box 169, Muscat 10

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

17.06.1979

 

 

Com. Reg. No.:

1/08739/8

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Import and distribution of building materials, timber, steel and ceramics

 

 

No. of Employees :

200

 

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

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 BUILDING MATERIALS LLC

Country of Origin                                    : Oman

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 17th June 1979

Commercial Registration Number            : 1/08739/8

Chamber Membership Number                : 206

Issued Capital                                        : RO 150,000

Paid up Capital                                      : RO 150,000

Total Workforce                                     : 200

Activities                                               : Import and distribution of building materials, timber, steel and ceramics.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

COMPANY NAME

 

BAHWAN BUILDING MATERIALS LLC

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Bayt Al Falaj Street

Area                 : Al Wadi Al Kabir

PO Box            : 169

Town                : Muscat 100

Country             : Sultanate of Oman

Telephone         : (968) 24810983 / 24813752 / 23211333 / 24424794

Facsimile          : (968) 24815755

Email                : bahwanbm@omantel.net.om

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                   Position

·       Sheikh Suhail Salem Abdullah Bahwan                         Omani                         Chairman

·       Sheikh Ahmed Suhail Salem Abdullah Bahwan              Omani                         Director

·       Surav Sen                                                                        -                            General Manager

·       Godwin Rodriguez                                                            -                            Commercial Manager

·       Ajay Talwar                                                                      -                            Finance Manager

·       Murli Darren                                                                     -                            Administrative Officer

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 17th June 1979

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1/08739/8

 

Chamber Member No. : 206

 

Issued Capital              : RO 150,000

 

Paid up Capital            : RO 150,000

Name of Shareholder (s)

·       Sheikh Suhail Salem Abdullah Bahwan

·       Sheikh Ahmed Suhail Salem Abdullah Bahwan

 

 

AFFILIATED COMPANIES

 

Subject is a member of the well known Suhail & Saud Bahwan group of companies that comprises the following concerns:

 

·       Al Gaddag Engineering LLC

PO Box: 168

Muscat

Tel: (968) 24712470

 

·       Suhail & Saud Bahwan Building Materials LLC

PO Box: 169

Muscat

Tel: (968) 24797581

Fax: (968) 24797169

 

·       Suhail & Saud Bahwan Building Materials LLC

Al Qurum District

PO Box: 3168 / 703, Ruwi 112

Muscat

Tel: (968-24) 700983 / 793741 / 561377

Fax: (968-24) 793755

 

·       Amiantit Oman SAO

PO Box: 1417

Seeb

Tel: (968-25) 626600

 

·       Arab Merchants Co LLC

PO Box: 6228

Muscat

Tel: (968-24) 701221

 

·       Arabian Car Marketing Co LLC

PO Box: 169

Muscat

Tel: (968-24) 793741

Fax: (968-24) 796158

 

·       Arabian Caravans Furnishing & Trading Co LLC

PO Box: 169

Muscat

Tel: (968-24) 797596

Fax: (968-24) 562089

 

·       Auto Parts Centre LLC

PO Box: 2619

Muscat

Tel: (968-24) 564308

Fax: (968-24) 564309

 

·       Automobile Automotive Centre

PO Box: 6168

Muscat

Tel: (968-24) 561377

Fax: (968-24) 561631

 

·       Bahwan Contracting Company LLC

PO Box: 4098

Muscat

Tel: (968-24) 591092

Fax: (968-24) 591098

 

·       Bahwan Foods (Khalijana) Co LLC

PO Box: 3711

Muscat

Tel: (968-24) 592492

 

·       Bahwan Trading Company LLC

Suhail Bahwan Building

PO Box: 169 & 2

Muscat 113

Tel: (968-24) 793750 / 24793741

Fax: (968-24) 796158

 

·       Bahwan Travel Agencies LLC

PO Box: 282

Muscat

Tel: (968-24) 740455

Fax: (968-24) 700483

 

·       Bahwan Engineering Co LLC (BEC)

Bahwan Centre

Sultan Qaboos Street

Al Ghoubra , Ruwi

PO Box: 703

Muscat 112

Tel: (968-24) 597510

Fax: (968-24) 597511

 

·       Delta Ltd

PO Box: 4537

Muscat

Tel: (968-24) 708483

 

·       Ebin Rushed Pharmacy Co LLC

PO Box: 169

Muscat

Tel: (968-24) 701557

Fax: (968-24) 701547

 

·       International Equipment & Contracting Co LLC

PO Box: 169

Muscat

Tel: (968-24) 714482

Fax: (968-24) 793755

 

·       National Crushers

PO Box: 961

Muscat

Tel: (968-24) 591461

 

·       Rent-A-Car LLC

PO Box: 282

Muscat

Tel: (968-24) 561427

Fax: (968-24) 700483

 

·       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 Mutawah Trading Co LLC

Al Mutawah Building

Sultan Qaboos Street

Al Ghobra

PO Box: 17, Muttrah 114

Muscat

Tel: (968-24) 591871 / 591872 / 591521

Fax: (968-24) 592370

 

·       Al Omaniya Automobile Marketing LLC

PO Box: 2619

Seeb

Tel: (968-25) 560925

Fax: (968-25) 564309

 

·       Arabian Engineering Services LLC

PO Box: 6000

Muscat

Tel: (968-24) 561377

Fax: (968-24) 561631

 

·       Bilad (Oman) LLC

PO Box: 42006

Rusayl

Tel: (968-24) 626001

Fax: (968-24) 591098

 

·       Electronics Company LLC

PO Box: 8111

Muttrah

Tel: (968-24) 793741

Fax: (968-24) 796158

 

·       Inma Company Oman LLC

PO Box: 3760

Muscat

Tel: (968-24) 562100

Fax: (968-24) 562039

 

·       Port Services Corp SAOG

PO Box: 133

Muscat

Tel: (968) 24714001

Fax: (968) 24714007

 

·       Qurum Contractors LLC

PO Box: 7003

Muscat

Tel: (968) 24562720

 

·       Sogex Oman LLC

PO Box: 4739

Muscat

Tel: (968) 24563055

Fax: (968) 24564608

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of building materials, timber, steel and ceramics.

 

Import Countries: Europe, China and GCC countries.

 

International Suppliers:

 

·       RAK Ceramic            United Arab Emirates

·       NITCO Ceramic Ltd   China

 

Brand Names: AHUJA, ASIAN PAINTS, BERGER, CROMPTON GREAVES, GROHE, KIMMCO and TRIMBLE.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 200 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                RO 41,300,000                          RO 44,750,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Oman SAOG

Muttrah Business District

PO Box: 1696, Ruwi 112

Muscat

Tel: (968) 24793225 / 24793226 / 24793228

Fax: (968) 24793229

 

·       HSBC Middle East

PO Box: 234

Muscat 113

Tel: (968) 24736041 / 24736042

Fax: (968) 24736043

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              April 2008

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

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.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.00

Euro

1

Rs.68.31

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.