|
Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
AHMED MOHSIN TRADING LLC |
|
|
|
|
Registered Office : |
Ahmed Mohsin Building Al Wadi Al Kabir Street Al Wadi Al Kabir PO Box 92, Ruwi
112 Muscat Sultanate of Oman |
|
|
|
|
Country : |
Oman |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
12.04.1995 |
|
|
|
|
Com. Reg. No.: |
1/47880/0, Muscat |
|
|
|
|
Legal Form : |
Limited Liability Company – LLC |
|
|
|
|
Line of Business : |
Engaged in the import and distribution of building materials and
supplies, plywood, timber, aluminium, corrugated sheets, G.I. pipes, general
hardware, sanitary ware and tiles, waterproofing materials, roofing products and heating equipment. |
|
|
|
|
No. of Employees |
100 |
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 : |
Satisfactory |
|
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 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 : AHMED MOHSIN TRADING LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 12th April 1995
Commercial Registration Number : 1/47880/0, Muscat
Chamber Membership Number : 831
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
Total Workforce : 100
Activities : Distributors of building materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rajan Kupala, Financial Controller
AHMED MOHSIN TRADING LLC
Building : Ahmed Mohsin
Building
Street : Al Wadi Al
Kabir Street
Area : Al Wadi Al
Kabir
PO Box : 92, Ruwi 112
Town : Muscat
Country : Sultanate of
Oman
Telephone : (968) 24817019
/ 24817645 / 24816621
Facsimile : (968) 24816377
/ 24817114
Email : info@amtoman.com
/ amtllc@omantel.net.om
/ amt@amtoman.com
/ buildmat@amtoman.com
Subject operates from a medium sized suite of offices, a warehouse and a
showroom that are owned and located in the Central Business Area of Muscat.
Branch Office (s)
Location Description
· Ibra Main Street Sales
office & showroom
PO Box: 391
Ibra 413
Tel: (968)
25871391
· Salalah Sales
office & showroom
Tel: (968)
23893544
· Sohar Sales
office & showroom
· Izki Sales
office & showroom
· Sinaw Sales
office & showroom
Name Position
· Ahmed Bin Mohsin
Ali Al Lawati Managing
Director
· Hussain Ahmed Bin
Mohsin Ali Al Lawati Director
· Batoul Mohamed Dawood Director
· Fatima Ahmed Bin Mohsin Ali Al Lawati Director
· Khadija Ahmed Bin Mohsin Ali Al Lawati Director
· Fayza Ahmed Bin Mohsin Ali Al Lawati Director
· Awatif Ahmed Bin Mohsin Ali Al Lawati Director
· K V Valslan Sales
Manager
· Hilda Lobo Finance
Manager
· Rajan Kupala Financial
Controller
· Jalal Ibrahim Marketing
Manager
Date of
Establishment : 12th
April 1995
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/47880/0, Muscat
Chamber Member No. : 831
Issued Capital : RO 250,000
Paid up Capital : RO 250,000
· Ahmed Bin Mohsin
Ali Al Lawati
· Hussain Ahmed Bin
Mohsin Ali Al Lawati
· Batoul Mohamed Dawood
· Fatima Ahmed Bin Mohsin Ali Al Lawati
· Khadija Ahmed Bin Mohsin Ali Al Lawati
· Fayza Ahmed Bin Mohsin Ali Al Lawati
· Awatif Ahmed Bin Mohsin Ali Al Lawati
· Al Maha Building
Materials LLC
Al Wadi Al Kabir
Muscat
Tel: (968)
24703807
Fax: (968)
24706377
· Damos Trading
& Contracting Co LLC
· Al Maha Electrical
Equipment LLC
Sohar
· Bespoke Design LLC
Muscat
· Ahmed Mohsin Bin
Ali Trad & Cont Est
Muscat
Activities: Engaged in the import and distribution of building materials and
supplies, plywood, timber, aluminium,
corrugated sheets, G.I. pipes, general hardware, sanitary ware and
tiles, waterproofing materials, roofing
products and heating equipment.
Import Countries: United Kingdom, Italy, Switzerland, Brazil,
Belgium and Germany.
International Suppliers:
· Brett Specialised
Aggregate Ltd United Kingdom
· Begley
International Ltd United
Kingdom
· Spring Ram
International United
Kingdom
· IMI Yorkshire Ltd United Kingdom
· Impronta Italy
· Nolte Germany
· Grohe Germany
· Laufan Switzerland
· Mydibel Belgium
· GBC Brazil
· Tyson Foodstuff Brazil
· BRF Global GmbH Brazil
Operating Trend: Steady
Subject has a workforce of 100 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
5,830,000 RO
6,200,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Rajan Kupala, Financial Controller
·
Bank Muscat SAOG
PO Box: 134
Al Wadi Al Kabir
Tel: (968) 24810808
Fax: (968) 24816760
·
HSBC Bank Middle East
Muttrah Business
District
PO Box: 240, Ruwi
112
Muscat
Tel: (968)
24700810 / 24799920 / 24799927
Fax: (968)
24704241
· Commercial Bank of Oman SAOG
Muttrah Business
District
PO Box:
1696, Ruwi 112
Muscat
Tel:
(968) 24793225 / 24793226 / 24793228
Fax:
(968) 24793229
·
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.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.