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Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED & AHMED AL KHONJI LLC |
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Registered Office : |
Al Khonji Building Mina Street Darsait PO Box 73 Muscat 100 |
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Country : |
Oman |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.12.1991 |
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Com. Reg. No.: |
1/00152/3 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject operates several divisions like Heavy Machinery
Division, Lubricants Division,
Electromechanical Division, Veterinary Division |
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No. of Employees : |
125 |
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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Status : |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Oman |
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 |
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 : MOHAMED & AHMED AL KHONJI LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 29th December 1991
Commercial Registration Number : 1/00152/3
Chamber Membership Number : 713
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 125
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Saji Philip, Finance Manager
MOHAMED & AHMED AL KHONJI LLC
Building : Al Khonji
Building
Street : Mina Street
Area : Darsait
PO Box : 73
Town : Muscat 100
Country : Oman
Telephone : (968) 24704231 / 24704068 / 24795973 / 24795007
Facsimile : (968) 24795958
Mobile : (968) 92747954
Email : khonji1@omantel.net.om
Subject operates from a medium sized suite of offices that are owned and
located in the Suburban Business Area of Muscat.
Branch Offices
Location Description
· Al Khuwair Office
premises
Tel: (968)
24478990
Name Position
· Mahmoud Abdullah Mohamed Al Khonji Managing
Director
· Najeeb Abdullah Mohamed Al Khonji Director
· Qaboos Abdullah Mohamed Al Khonji Director
· Khadija Abdullah Mohamed Al Khonji Director
· Zamzam Abdullah Mohamed Al Khonji Director
· Mona Abdullah Mohamed Al Khonji Director
· Ahmed Abdullah Mohamed Al Khonji Director
· Khalil Abdullah Mohamed Al Khonji Director
· Mohamed Abdullah Mohamed Al Khonji Director
· Adel Naji Business
Development Manager
· Saji Philip Finance
Manager
· Tariq Najeeb Al
Khonji Commercial
Manager
· Promod Singh Sales
Manager
· Dr N J Thomas Veterinary
Division Manager
Date of
Establishment : 29th
December 1991
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/00152/3
Chamber Member No. : 713
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
· Mahmoud Abdullah Mohamed Al Khonji
· Najeeb Abdullah Mohamed Al Khonji
· Qaboos Abdullah Mohamed Al Khonji
· Khadija Abdullah Mohamed Al Khonji
· Zamzam Abdullah Mohamed Al Khonji
· Mona Abdullah Mohamed Al Khonji
· Ahmed Abdullah Mohamed Al Khonji
· Khalil Abdullah Mohamed Al Khonji
· Mohamed Abdullah Mohamed Al Khonji
Activities: Subject’s operations are performed through the following divisions:
· Heavy Machinery Division
Engaged
in the import and distribution of heavy machinery and
equipment as well as accessories.
·
Lubricants Division
Engaged in the import and distribution of lubricants and greases.
·
Electromechanical Division
Engaged as electro mechanical contractors,
specialising in air conditioning systems.
·
Veterinary Division
This division specialises in the import and
distribution of veterinary products and drugs.
Import Countries: India, China, Japan, Bahrain, Europe and the
United States of America
Agencies Held:
·
Marshal Bahrain
·
3M United States of America
Operating Trend: Steady
Subject has a workforce of 125 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
2,750,000 RO
3,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Oman Arab Bank
Muttrah
Business District
PO Box:
2010, Ruwi 112
Muscat
Tel:
(968) 24700161 / 24706265 / 24706267
Fax:
(968) 24797736
No complaints regarding subject’s payments have been reported.
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.54.39 |
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|
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.