|
Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
AL KIYUMI ELECTRIC & TRADING CO LLC |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.04.1993 |
|
|
|
|
Com. Reg. No.: |
1/3879/4 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of electrical products, cables, switchgear, plugs and sockets |
|
|
|
|
No. of Employees : |
75 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
oman - ECONOMIC OVERVIEW
Oman is a middle-income
economy that is heavily dependent on dwindling oil resources. Because of
declining reserves and a rapidly growing labor force, Muscat has actively
pursued a development plan that focuses on diversification, industrialization,
and privatization, with the objective of reducing the oil sector's contribution
to GDP to 9% by 2020 and creating more jobs to employ the rising numbers of
Omanis entering the workforce. Tourism and gas-based industries are key
components of the government's diversification strategy. By using enhanced oil
recovery techniques, Oman succeeded in increasing oil production, giving the
country more time to diversify, and the increase in global oil prices through
2011 provided the government greater financial resources to invest in non-oil
sectors.
|
Source : CIA |
Company Name : AL KIYUMI ELECTRIC & TRADING CO LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st April 1993
Commercial Registration Number : 1/3879/4
Chamber Membership Number : 761
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 75
Activities : Distributors of electrical products, cables, switchgear, plugs and
sockets
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL KIYUMI ELECTRIC
& TRADING CO LLC
Registered &
Physical Address
Building : Kiyumi Building, Office No. 27
Street : Way No. 4401
Area : Azaiba 130
PO Box : 166
Town : Muscat
Country : Oman
Telephone : (968) 24503284
Facsimile : (968) 24490824
Mobile : (968) 99479191
Email : tushar@alkiyumielectric.com / info@alkiyumielectric.com
Premises
Subject operates
from a medium sized suite of offices that are owned and located in the Central
Business Area of Muscat.
Branch Office (s)
Location Description
·
Sohar Showroom
premises
Tel: (968) 26752081 / 26752082
·
Bidaya Showroom
premises
Tel: (968) 26708356
·
Barka Showroom
premises
Tel: (968) 26883791
·
Ruwi Showroom
premises
Tel: (968) 24833602
Name Position
·
Majid
Bin Sulaiman Bin Hilal Al Kiyumi Managing Director
·
Adel
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Mohamed
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Essam
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Salem
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Amer
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Huda
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Heba
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Zwina
Bin Sulaiman Bin Hilal Al Kiyumi Director
·
Fatima
Mohamed Salem Al Rawahi Director
·
Tushar
Hamlai General
Manager
Date of Establishment : 1st
April 1993
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/3879/4
Chamber Member No. : 761
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Name of Shareholder (s)
·
Majid Bin
Sulaiman Bin Hilal Al Kiyumi
·
Adel
Bin Sulaiman Bin Hilal Al Kiyumi
·
Mohamed
Bin Sulaiman Bin Hilal Al Kiyumi
·
Essam
Bin Sulaiman Bin Hilal Al Kiyumi
·
Salem
Bin Sulaiman Bin Hilal Al Kiyumi
·
Amer
Bin Sulaiman Bin Hilal Al Kiyumi
·
Huda
Bin Sulaiman Bin Hilal Al Kiyumi
·
Heba
Bin Sulaiman Bin Hilal Al Kiyumi
·
Zwina
Bin Sulaiman Bin Hilal Al Kiyumi
·
Fatima
Mohamed Salem Al Rawahi
Activities: Engaged in the import and distribution of
electrical products, cables, switchgear, plugs and sockets.
Import
Countries: United Kingdom,
Spain, France, Turkey, United States of America, Italy, India and Malaysia.
International
Suppliers:
·
Hawke
International United Kingdom
·
Raxton United Kingdom
·
Top
Cable Spain
·
Nexans France / Turkey
·
Ramcro Italy
·
3M United
States of America
·
Kopex United Kingdom
·
Critchley United Kingdom
·
Volex United
Kingdom
·
Yesha India
·
Burndy United States
of America
·
Click United
Kingdom
·
Ace Malaysia
Operating Trend: Steady
Subject has a
workforce of 75 employees.
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 3,150,000 RO 3,380,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Muscat
Al Burj Street
Greater Muttrah
PO Box: 6326, Ruwi
Muscat
Tel: (968) 24701769
Fax: (968) 24796488
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.16 |
|
UK Pound |
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.