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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL DASTOOR CONTRACTING & TRADING LLC |
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Registered Office : |
Building No. 295, Ground Floor Baladiya Street Ruwi PO Box 577, Ruwi
114 Muscat |
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Country : |
Oman |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
04.03.1991 |
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Com. Reg. No.: |
1/31449/1 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject operates several divisions like Electrical Division, ITC Division, Industrial Products Division, Fire
and Safety Division, Building Materials Division |
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No. of Employees : |
130 |
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) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 : AL DASTOOR CONTRACTING & TRADING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 4th March 1991
Commercial Registration Number : 1/31449/1
Chamber Membership Number : 1842
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Total Workforce : 130
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
P Madhvan Kutty, Financial Manager
AL DASTOOR CONTRACTING & TRADING LLC
Building : Building No.
295, Ground Floor
Street : Baladiya
Street
Area : Ruwi
PO Box : 577, Ruwi 114
Town : Muscat
Country : Oman
Telephone : (968) 24820140
/ 24837934 / 24820100 / 24820102 / 24820141 / 24833715
Facsimile : (968) 24836778
Mobile : (968)
99314377 / 99417369 / 99206462
Email : kutty@dastoor.com
/ shaheed@dastoor.com
/ dastoor@omantel.net.om
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Muscat.
Branch Office (s)
Location Description
· Sur Office
premises
Tel: (968)
25542177
Fax: (968)
25542177
· Sohar Office
premises
Tel: (968)
26844385
Fax: (968)
26840463
· Salalah Office
premises
Tel: (968)
23299718
Fax: (968)
23299714
· Honda Road Showroom
premises
Ruwi
Tel: (968)
24833286
· Al Ghubra Showroom
premises
Tel: (968)
24492025
· Wadi Al Kabir Showroom
premises
Tel: (968)
24820190
Fax: (968)
24820191
Name Position
· Dr Salim Said
Hamad Al Fannah Al Araimi Chairman
· Dr Parambath Kandi
Mohamed Ali Director
· Budoor Mohamed
Rashid Al Fannah Al Araimi Director
· Ahmed Rayees General
Manager
· P Madhvan Kutty Financial
Manager
· Ahmed Ryes General
Manager
· C A Mohsin Operations
Manager
Date of
Establishment : 4th
March 1991
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/31449/1
Chamber Member No. : 1842
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
· Dr Salim Said
Hamad Al Fannah Al Araimi 40%
· Dr Parambath Kandi
Mohamed Ali 30%
· Al Siraj
Investment and Projects LLC 30%
Muscat
Activities: Subjects operations are performed through the following divisions:
·
Electrical Division
Engaged in the
import and distribution of electrical equipment
·
ITC Division
Engaged in the
import and distribution of information technology equipment.
·
Industrial Products Division
Engaged in the import and distribution of industrial products.
·
Fire and Safety Division
Engaged in the
import and distribution of fire and safety equipment.
·
Building Materials Division
Engaged in the import and distribution of building materials.
Import Countries: Europe and the Far East.
Brand Names: EATON, GEWISS, UMS, BRITMAC, HAMILTON LIFESTAT
GROUP, MARSHALL TUFFLEX, BAJAJ, SUPER IMPAX, WARMATE, LIFE TECH, ESTO, YIDA,
AVISAN LIGHTINGS, KSR LIGHTINGS,
OMAN CABLES INDUSTRY, OMAN PLAST MUNANOOR
and HOTACE OMAN
Operating Trend: Steady
Subject has a workforce of 130 employees.
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales RO 12,758,000 RO 13,233,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr P Madhvan Kutty, Financial Manager
·
Bank of Muscat
Hatat
House Branch
Wadi Adai
PO Box:
4077, Ruwi
Muscat
Tel:
(968) 24564861
Fax: (968) 24564860
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with payment
obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.