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Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
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Name : |
BAHANIS TRADING COMPANY LLC |
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Registered Office : |
Muttrah Business District PO Box 371, Muttrah 114 Muscat |
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Country : |
Oman |
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Date of Incorporation : |
04.07.2013 |
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Com. Reg. No.: |
1/00729/8 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in the import and distribution of building materials, including
pressure fittings, drainage fittings, PVC valves, isolation valves –
Hydroseal, construction materials, general tools, door locks, brass valves
and bath fittings and bathroom mirrors |
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No. of Employees : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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
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Source
: CIA |
Company Name : BAHANIS TRADING COMPANY LLC
Country of Origin : Oman
Legal Form : Limited Liability Company – LLC
Registration Date : 4th July 2013
Commercial Registration Number : 1/00729/8
Membership Number : 13067
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
Total Workforce : 65
Activities : Distributors of building materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
BAHANIS TRADING COMPANY LLC
Location : Muttrah
Business District
PO Box : 371, Muttrah
114
Town : Muscat
Country : Oman
Telephone : (968) 24791680
Facsimile : (968) 24791685
Mobile : (968)
99378710 / 99798278
Email : bahanistrading@alhosnigroup.com
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Muscat.
Name Position
· Nasser Amer
Shuwaihan Al Hosni Managing
Director
· Amer Shuwaihan
Amer Al Hosni Director
· Ronald Prerera General
Manager
· T K Arvind Sales
Manager
Date of
Establishment : 4th
July 2013
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1/00729/8
Membership No. : 13067
Issued Capital : RO 200,000
Paid up Capital : RO 200,000
· Nasser Amer
Shuwaihan Al Hosni
· Amer Shuwaihan
Amer Al Hosni
· Majan Continental
Hotel
Oman
· National Plastic
Factory
Oman
· Al Mandoos Trading
Co LLC
Oman
· Al Lub Paper
Factory
Oman
· Scorpion Chemicals
Factory
Oman
· Jabreen Converting
Industries
Oman
· Dar Al Safwa Real
Estate Services LLC
Oman
· Al Khabourah
Cooking Gas Factory
Oman
· Haifa Industrial
Services
Oman
· Nizwa Gas Industries
Oman
· Muscat Heaters
Industry LLC
Oman
· Al Hosni Trading
& Contracting Ent
Oman
· Sun Star Digital
Photo Services
Oman
· Star Modern
Industries
Oman
· National Plastic
Factory
United Arab Emirates
· Daas Interiors
United Arab
Emirates
· Majan Building
Contracting
United Arab
Emirates
· National Plastic
Factory
Egypt
· Daas Tourism
Services Ltd
Egypt
Activities: Engaged in the import and distribution of building materials, including
pressure fittings, drainage fittings, PVC valves, isolation valves – Hydroseal,
construction materials, general tools, door locks, brass valves and bath
fittings and bathroom mirrors.
Import Countries: Europe and the Far East.
Subject has a workforce of 65 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
· Commercial Bank of Oman SAOG
Muttrah
Business District
PO Box:
1696, Ruwi 112
Muscat
Tel: (968)
24793225 / 24793226 / 24793228
Fax:
(968) 24793229
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
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|
1 |
Rs.102.22 |
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Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
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 |
|
-- |
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.