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Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL KHALILI UNITED ENTERPRISES LLC |
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Registered Office : |
Al Wadi Al Kabir, Way No. 65511, Building Sultanate of |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.01.1976 |
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Com. Reg. No.: |
1/02435/3 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and distribution of building materials, general hardware,
plywood & MDF boards, light fixtures and fittings, structural steel,
tools and industrial equipment. |
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No. of Employees |
300 |
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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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. However, increases in social welfare benefits, particularly since the Arab Spring, will challenge the government's ability to effectively balance its budget if oil revenues decline. 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. In 2012, continued surpluses resulting from sustained high oil prices and increased enhanced oil recovery allowed the government to maintain growth in social subsidies and public sector job creation. However, the Sultan made widely reported statements indicating this would not be sustainable, and called for expanded efforts to support SME development and entrepreneurship. Government agencies and large oligarchic group companies heeded his call, announcing new initiatives to spin off non-essential functions to entrepreneurs, incubate new businesses, train and mentor up and coming business people, and provide financing for start-ups. In response to fast growth in household indebtedness, the Central Bank reduced the ceiling on personal interest loans from 8 to 7%, lowered mortgage rates, capped the percentage of consumer loans at 50% of borrower's salaries for personal loans and 60% for housing loans, and limited maximum repayment terms to 10 and 25 years respectively.
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Source
: CIA |
Company Name :
AL KHALILI UNITED ENTERPRISES LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 20th January 1976
Commercial Registration Number : 1/02435/3
Chamber Membership Number : 1524
Issued Capital : RO 1,500,000
Paid up Capital : RO 1,500,000
Total Workforce : 300
Activities : Import and distribution of building materials, tools and light fixtures and
fittings
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ayoub Khan, Chief Financial Officer
AL KHALILI UNITED ENTERPRISES LLC
Location :
Al Wadi Al Kabir, Way No. 65511, Building
No. 1100
PO Box :
1869
Town :
Muscat 112
Country :
Sultanate of Oman
Telephone :
(968) 24816303 / 24493565 / 24455348 / 24616900
/ 22035000
Facsimile :
(968) 24815384 / 24613503
Email :
khalico@omantel.net.om / info@alkhalili.com
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Central Business Area of Muscat.
Branch Office (s)
Location Description
· Sohar Office
premises
Tel: (968)
26751074
· Mabela Office
premises
Tel: (968)
24455348
· Soor Office
premises
Tel: (968)
25546670
· Ibiri Office
premises
Tel: (968)
25690858
Name Position
· Qais Salim Hilall Al Khalili Managing
Director
· Bassam Salim Hilall Al Khalili Director
· Talal Salim Hilall Al Khalili Director
· Sult Salim Hilall Al Khalili Director
· Ajit Kumar General
Manager
· Ayoub Khan Chief
Financial Officer
· Vijay Nair Commercial
Manager
· Ravi Chandram Sales
Manager
Date of
Establishment : 20th January
1976
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/02435/3
Chamber Member No. : 1524
Issued Capital : RO 1,500,000
Paid up Capital : RO 1,500,000
· Qais Salim Hilall Al Khalili 25.5%
· Talal Salim Hilall Al Khalili 25.5%
· Sult Salim Hilall Al Khalili 24.5%
· Bassam Salim Hilall Al Khalili 24.5%
·
Al
Kazem Contracting LLC
Muscat
· Al Khalili Construction LLC
Muscat
· Al Khalili
Electrical LLC
Muscat
· Al Khalili
Technology LLC
Muscat
· Al Khalili
Specialized Projects LLC
Muscat
· Al Khalili
Logistics LLC
Muscat
· Al Khalili Auto
Services LLC
Muscat
· Al Khalili Oil and
Gas Services LLC
Muscat
Activities: Engaged in the import and distribution of building materials, general
hardware, plywood & MDF boards, light fixtures and fittings, structural
steel, tools and industrial equipment.
Import Countries: Europe and GCC countries
Operating Trend: Steady
Subject has a workforce of approximately 300 employees.
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales RO
38,380,000 RO
40,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Ayoub Khan, Chief
Financial Officer
·
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.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
Established
in 1976, subject is involved in the import and distribution of building
materials, tools and light
fixtures
and fittings.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.48 |
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1 |
Rs.100.35 |
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Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIS |
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 |
-- |
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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.