|
Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRADE LINKS &
SERVICES COMPANY LLC (TLS) |
|
|
|
|
Registered Office : |
Trade Links
Building No. 1738, Way No. 2728, P O Box 2901, Ruwi 112, Muscat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.04.1977 |
|
|
|
|
Com. Reg. No.: |
1/05502/0 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the
distribution and retail of electrical materials and equipment, such as
transformers, cables, electrical accessories and electronic measuring equipment,
as well as waterproofing, interior decoration, lighting, fire protection and
fire alarms. |
|
|
|
|
No of Employees : |
200 (Approximately) |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Oman |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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.
|
Source
: CIA |
Company Name : TRADE LINKS & SERVICES COMPANY LLC (TLS)
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 1st April 1977
Commercial Registration Number : 1/05502/0
Chamber Membership Number : 987
Issued Capital : RO 5,000,000
Paid up Capital : RO 5,000,000
Total Workforce : 200
Activities : Distribution and retail of electrical materials and equipment.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Man Mohan Jalistagi, Finance Manager
TRADE LINKS & SERVICES COMPANY LLC (TLS)
Registered &
Physical Address
Building : Trade Links Building No. 1738
Street : Way No. 2728
PO Box : 2901, Ruwi 112
Town : Muscat
Country : Sultanate of Oman
Telephone : (968) 24706775 / 24706776 / 24706779
Facsimile : (968) 24701514
Mobile : (968) 99257812 / 96532514
Email : tls.oman@gmail.com
/ info@tlsoman.com
Premises
Subject operates
from a suite of offices, a showroom and a warehouse covering an area of 35,000 square
feet that are rented and located in the Central Business Area of Muscat.
Branch Office (s)
Location Description
·
Ruwi Showroom
premises
Tel: (968) 24707715
Fax:
(968) 24705538
·
PO Box:
2971 Showroom
premises
Salalah 211
Tel:
(968) 25297018
Fax:
(968) 25297018
·
PO Box:
997 Showroom
premises
Nizwa 611
Tel: (968) 24410352
Fax: (968) 24410352
·
PO Box:
319 Showroom
premises
Al Buraimi 512
Tel: (968) 24653782
Fax: (968) 24653783
·
PO Box:
709 Showroom
premises
Sohar 311
Tel: (968) 26842145
Fax: (968) 26842435
Name Position
·
Ali Bin
Mohamed Bin Mirza Managing
Director
·
Tariq Ali Bin Mohamed Bin Mirza Director
·
Hani Ali Bin Mohamed Bin Mirza Director
·
Man Mohan Jalistagi Finance
Manager
·
N V
Shenoy Assistant
General Manager
·
Fahd Sobhi Administration
Manager
·
Krishnan
Kumar Project
Manager
Date of Establishment : 1st
April 1977
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/05502/0
Chamber Member No. : 987
Issued Capital : RO 5,000,000
Paid up Capital : RO 5,000,000
Name of Shareholder
(s)
·
Ali Bin
Mohamed Bin Mirza
·
Tariq Ali Bin Mohamed Bin Mirza
·
Hani Ali Bin Mohamed Bin Mirza
·
Oman
Plastic Bags Company Ltd
PO Box: 5993
Muscat
Tel: (968) 24591765
Fax: (968) 24601895
·
Chainlink
Fencing Co LLC
PO Box: 42007
Muscat
Tel: (968) 24626024
Fax: (968) 24626037
·
Civil
Contracting Co LLC
Middle East Traders Building, Ground Floor
Qaboos Street
Ghala
PO Box: 4321
Muscat
Tel:
(968) 24590762
Fax: (968) 24590541
·
National
Electrical Industries Co LLC
Maabela Industrial Area
PO Box: 1102
Seeb 111
Tel: (968) 24590762
Fax: (968) 24590541
Activities: Engaged in the distribution and retail of
electrical materials and equipment, such as transformers, cables, electrical
accessories and electronic measuring equipment, as well as waterproofing,
interior decoration, lighting, fire protection and fire alarms.
Import
Countries: United Kingdom,
Japan and the United States of America
Operating Trend: Steady
Subject has a
workforce of approximately 200 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 Revenue RO 42,700,000 RO 45,800,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr. Man Mohan
Jalistagi, Finance Manager
·
Bank of
Oman, Bahrain & Kuwait
Main Branch
PO Box: 4708
Muscat
Tel: (968) 24701528
·
HSBC
Middle East
Main Branch
PO Box: 701528
Muscat
Tel: (968) 24799920
Fax: (968) 24704241
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.60.23 |
|
UK Pound |
1 |
Rs.102.86 |
|
Euro |
1 |
Rs.81.44 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.