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Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
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Name : |
BAHWAN TRADING COMPANY LLC (BTC) |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.07.1995 |
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Com. Reg. No.: |
1/49185/7 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject’s activities are performed through
the following divisions:- Bahwan Projects
& Telecoms Bahwan Projects & Telecoms provides technology and engineering services for the development of core sectors such as Telecoms and Broadcasting, Oil & Gas, Petrochemicals, Power, Water, and Defence. Bahwan Electronics Bahwan Electronics is a major distributor and retailer of
branded air conditioning systems (splits, window and central air
conditioning) for light commercial and domestic application, as well as a wide
range of electronic products and household appliances, including Laptop computers, Mobile telephones,
Calculators, Cash registers, Homeware, Cameras, Watches and clocks,
Electronic music instruments, Luggage, and Attendance recording systems. |
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No. of Employees |
2,000 (approximately) |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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. In 2012 the Central Bank also issued final
regulations governing Islamic banking and two full-fledged Islamic banks held
oversubscribed IPOs while four traditional banks opened sharia-compliant
Islamic windows.
|
Source : CIA |
Company Name : BAHWAN TRADING COMPANY LLC (BTC)
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 15th July 1995
Commercial Registration Number : 1/49185/7
Issued Capital : RO 1,000,000
Paid up Capital : RO 1,000,000
Total Workforce : 2,000
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rahul Kar, Chief
Financial Officer
BAHWAN TRADING
COMPANY LLC (BTC)
Registered &
Physical Address
Building :
Al
Area : Qurum Commercial District
PO Box :
169 & 455 & 2
Town : Muscat 113
Country : Oman
Telephone : (968) 24650000 / 24650651 /
24650652
Facsimile : (968) 24796158
Mobile : (968) 99505139 / 94000964
Email : info@suhailbahwangroup.com
Please note that
subject’s previous address was, Suhail Bahwan Building, Ground & Mezzanine
Floors, Jaame Street, Ruwi Industrial Area, Muscat.
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Central Business Area of Muscat.
Name Position
·
Sheikh Suhail Salem Abdullah Bahwan Managing
Director
·
Sheikh Ahmed Suhail Salem Abdullah
Bahwan Director
·
Amal Suhail Salem Abdullah Bahwan Director
·
Thoraya
Suhail Salem Abdullah Bahwan Director
·
Huda Suhail
Salem Abdullah Bahwan Director
·
Noura Suhail
Salem Abdullah Bahwan Director
·
Gayda Suhail
Salem Abdullah Bahwan Director
·
Zubaida
Suhail Salem Abdullah Bahwan Director
·
Fatima Suhail
Salem Abdullah Bahwan Director
·
Ajay Talwar Finance
Manager
·
Rahul Kar Chief
Financial Officer
·
Abdullah Al Omraimi Administration
Manager
·
Avid Alex D’Souza Project
Manager
·
Nasser Al Farsi Public
Relations Officer
Date of Establishment : 15th
July 1995
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1/49185/7
Issued Capital : RO 1,000,000
Paid up Capital : RO 1,000,000
Name of
Shareholder (s)
·
Sheikh Suhail Salem Abdullah Bahwan
·
Sheikh Ahmed Suhail Salem Abdullah
Bahwan
·
Amal Suhail Salem Abdullah Bahwan
·
Thoraya
Suhail Salem Abdullah Bahwan
·
Huda Suhail
Salem Abdullah Bahwan
·
Noura Suhail
Salem Abdullah Bahwan
·
Gayda Suhail
Salem Abdullah Bahwan
·
Zubaida
Suhail Salem Abdullah Bahwan
·
Fatima Suhail
Salem Abdullah Bahwan
·
Al
Gaddag Engineering LLC
PO Box: 168
Muscat
Tel: (968) 24712470
·
Suhail
& Saud Bahwan Building Materials LLC
PO Box: 169
Muscat
Tel: (968) 24797581
Fax: (968) 24797169
·
Suhail
& Saud Bahwan Building Materials LLC
Al Qurum District
PO Box 3168 / 703, Ruwi 112
Muscat
Tel: (968) 24700983 / 24793741 / 24561377
Fax: (968) 24793755
·
Amiantit
Oman SAO
PO Box: 1417
Seeb
Tel: (968) 25626600
·
Arab
Merchants Co LLC
PO Box: 6228
Muscat
Tel: (968) 24701221
·
Arabian
Car Marketing Co LLC
PO Box: 169
Muscat
Tel: (968) 24793741
Fax: (968) 24796158
·
Arabian
Caravans Furnishing & Trading Co LLC
PO Box: 169
Muscat
Tel: (968) 24797596
Fax: (968) 24562089
·
Auto
Parts Centre LLC
PO Box: 2619
Muscat
Tel: (968) 24564308
Fax: (968) 24564309
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Automobile
Automotive Centre
PO Box: 6168
Muscat
Tel: (968) 24561377
Fax: (968) 24561631
·
Bahwan
Contracting Company LLC
PO Box: 4098
Muscat
Tel: (968) 24591092
Fax: (968) 24591098
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Bahwan
Foods (Khalijana) Co LLC
PO Box: 3711
Muscat
Tel: (968) 24592492
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Bahwan
Travel Agencies LLC
PO Box: 282
Muscat
Tel: (968) 24740455
Fax: (968) 24700483
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Bahwan
Engineering Co LLC (BEC)
Bahwan Centre
Sultan Qaboos Street
Al Ghoubra , Ruwi
PO Box: 703
Muscat 112
Tel: (968) 24597510
Fax: (968) 24597511
·
Delta
Ltd
PO Box: 4537
Muscat
Tel: (968) 24708483
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Ebin
Rushed Pharmacy Co LLC
PO Box: 169
Muscat
Tel: (968) 24701557
Fax: (968) 24701547
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International
Equipment & Contracting Co LLC
PO Box: 169
Muscat
Tel: (968) 24714482
Fax: (968) 24793755
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National
Crushers
PO Box: 961
Muscat
Tel: (968) 24591461
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Rent-A-Car
LLC
PO Box: 282
Muscat
Tel: (968) 24561427
Fax: (968) 24700483
·
Utmost
Building Materials Co LLC
Al Burj Building, 1st Floor
Deira
PO Box: 55014
Dubai
United Arab Emirates
Tel: (971-4) 3553883
Fax: (971-4) 3553776
·
Gulf
Mercantile Trading
Al Burj Building, 1st Floor
Deira
PO Box: 55014
Dubai
United Arab Emirates
Tel: (971-4) 3553883
Fax: (971-4) 3553776
·
Mercantile
Information & Telecommunication Technology Est (MITTE)
Sheikha Aisha Building
Al Salam Street
PO Box: 41175
Abu Dhabi
United Arab Emirates
Tel: (971-2) 6458909
Fax: (971-2) 6458907
·
Al
Mutawah Trading Co LLC
Al Mutawah Building
Sultan Qaboos Street
Al Ghobra
PO Box: 17, Muttrah 114
Muscat
Tel: (968) 24591871 / 24591872 / 24591521
Fax: (968) 24592370
·
Al
Omaniya Automobile Marketing LLC
PO Box: 2619
Seeb
Tel: (968) 25560925
Fax: (968) 25564309
·
Arabian
Engineering Services LLC
PO Box: 6000
Muscat
Tel: (968) 24561377
Fax: (968) 24561631
·
Bilad
(Oman) LLC
PO Box: 42006
Rusayl
Tel: (968) 24626001
Fax: (968) 24591098
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Electronics
Company LLC
PO Box: 8111
Muttrah
Tel: (968) 24793741
Fax: (968) 24796158
·
Inma
Company Oman LLC
PO Box: 3760
Muscat
Tel: (968) 24562100
Fax: (968) 24562039
·
Port
Services Corp SAOG
PO Box: 133
Muscat
Tel: (968) 24714001
Fax: (968) 24714007
·
Qurum
Contractors LLC
PO Box: 7003
Muscat
Tel: (968) 24562720
·
Sogex
Oman LLC
PO Box: 4739
Muscat
Tel: (968) 24563055
Fax: (968) 24564608
Operations : Subject’s activities are performed through
the following divisions:
Bahwan Projects & Telecoms
Bahwan
Projects & Telecoms provides technology and engineering services for the development
of core sectors such as Telecoms and Broadcasting, Oil & Gas,
Petrochemicals, Power, Water, and Defence.
The
division’s primary function is the promotion of infrastructure and industrial
projects in Oman, association with international companies to execute them and
coordination of in-house expertise in project implementation. In addition, as a
result of wide experience gained over the years, Bahwan Projects & Telecoms
is now executing turn key projects involving Telecommunications, Broadcast, Mechanical
and Electrical Engineering, Power, Desalination, Chemical Process Equipment,
Oil and Gas, and Security and Defence. The Division enjoys strong links with
both the Private and Public Sectors.
·
Bahwan Electronics
Bahwan
Electronics is a major distributor and retailer of branded air conditioning
systems (splits, window and central air conditioning) for light commercial and
domestic application, as well as a wide range of electronic products and
household appliances, including Laptop computers, Mobile telephones,
Calculators, Cash registers, Homeware, Cameras, Watches and clocks, Electronic
music instruments, Luggage, and Attendance recording systems.
Import Countries
: Japan, Asia, Europe and
the United States of America.
Brand Names : TOSHIBA, IGNIS, TEMPSTAR,
COOLINE, DOLPHIN, TITAN, DOMETIC,
SEIKO, SONY ERICSSON, NAPRO, CORNING, AUSONIA,
BENQ,
CORBY, CASIO, CARRIER, and DAEWOO.
Operating Trend: Steady
Subject has a
workforce of approximately 2,000 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 2,520,000 RO 3,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Rahul Kar, Chief Financial Officer
·
Oman
Arab Bank
Head Office
Muttrah Business District
PO Box: 2010, Ruwi 112
Muscat
Tel: (968) 24700161 / 24706265
/ 24706267
Fax: (968) 24797736
·
Oman
International Bank
Al Jaame Street
PO Box: 4216
Muscat
Tel: (968) 24703614 / 24707328
/ 24793450
·
HSBC
Bank Middle East
Muttrah Business District
PO Box: 240, Ruwi 112
Muscat
Tel: (968) 24700810 / 24799920 / 24799927
Fax: (968) 24704241
·
Bank
Dhofar Al Omani Al Fransi
Al Burj Street
PO Box: 4507, Ruwi
Muscat
Tel: (968) 24798012 / 798013
Fax: (968) 24798015
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.70 |
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|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.