|
Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
KHIMJI RAMDAS AND CO LLC (KR) |
|
|
|
|
Registered Office : |
Khimji House, Muttrah High Street, Greater Muttrah, PO Box: 19, Muscat
100 |
|
|
|
|
Country : |
Oman |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1870 |
|
|
|
|
Com. Reg. No.: |
1/02085/4 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
line of business
: |
Subject operates several divisions like Furniture Division (Operates as Khimji Furniture Mart), Consumer
Products Division, Shipping Division, Automotive Division & Workshop, etc |
|
|
|
|
No. of Employees : |
2,500 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
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 |
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 :
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
KHIMJI RAMDAS AND CO LLC (KR)
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 / 24765539
Facsimile : (968) 24795988
/ 24705122 / 24708819 / 24788460
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
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.
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
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
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
Consumer Products Division
Address: PO Box : 19
Muscat 100
Tel: (968)
24502526
Fax: (968)
24596782
Activities: Engaged in the
import and distribution of general foodstuff products, FMCG’s and commodities.
Brand Names : PROCTER & GAMBLE, TIDE, PAMPERS, LA VACHE,
REGAL PICON, HERSHEY’S, GYMA, HERO JAMS, FOSTER CLARK, QUAKER OATS, 3M HOME
CARE, DEVON, PARACHUTE, RASNA, AMUL, MAJAN, HUMA and KHIMJI RICE.
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)
24852700/24852600/24852625/24852664
Fax: (968)
24852667
Mob: (968)
99448952
Email: info.electrical@kr.om
Activities : Distributors of lighting equipment,
cables, cable trays, fans and aircirculators, PVC Pipes & trunking, G.I.
Pipe, Bulbs and Tubes, switches and accessories.
Established in 1975, the KR Electrical Division offers leading brands and
established products in Light Fittings, Low Voltage Switchgear, Cables and
Cable Support Systems, Cable Trunking & Cable Trays, Cable ladders,
Conduits & Accessories, Wiring Accessories, Air Circulators, Fans, Lamps
and Tubes.
KR represents leading lighting brands such as Majelite of Oman, Fitzgerald from U.K., Bajaj Engineering and Projects of
India and has an excellent track record in installing several important
lighting projects in Oman.
The division has
executed lighting projects for the recently opened Lulu Hypermarket in Muscat,
The Chedi Hotel, Oman Oil and Al Maha fuel stations and shops, Al Khoud Stadium
and Ministry of Heritage.
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 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
22,500,000 RO
24,100,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
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
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
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.52.75 |
|
UK Pound |
1 |
Rs.85.07 |
|
Euro |
1 |
Rs.69.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.