MIRA INFORM REPORT

Report No. :	353571
Report Date :	12.12.2015

IDENTIFICATION DETAILS

Name :	TOTAL SOLUTIONS BUILDING MATERIAL LLC
Registered Office :	Seeb Al Amabilah, Al Snaiya Industrial Area, PO Box 320, Muscat
Country :	Oman
Financials (as on) :	31.12.2014
Date of Incorporation :	15.05.2012
Com. Reg. No.:	1/14532/0
Legal Form :	Limited Liability Company – LLC
Line of Business :	Subject is engaged in the import and distribution of building materials and providers of building solutions.
No. of Employees :	7

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 :	Slow but correct
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, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Oman	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

OMAN - ECONOMIC OVERVIEW

Oman is heavily dependent on dwindling oil resources, which generates 77% of government revenue. It is using enhanced oil recovery techniques to boost production. 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 from 46% to 9% by 2020. Muscat also is focused on 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, have challenged the government's ability to effectively balance its budget as oil prices decline. Despite government acknowledgement that Oman’s expansive social welfare benefits are unsustainable, Oman authorities are comfortable with short-term budget deficits and have approved an expansionary 2015 budget. Concurrently, Oman has expanded efforts to support the development of small and medium-size enterprises and entrepreneurship. Government agencies and large oligarchic group companies have announced 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.

Source : CIA

Company name TOTAL SOLUTIONS BUILDING MATERIAL LLC
ORDER DETAILS
Business/ Subject Name	:	Total Solutions Building Material LLC
Country	:	Oman
PO Box	:	1111 PC-320
IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name	:	TOTAL SOLUTIONS BUILDING MATERIAL LLC
2) Registered Address:
Address	:	Seeb Al Amabilah, Al Snaiya Industrial Area
Town	:	Muscat
Country	:	Oman
PO Box	:	320
Phone (s)	:	(968) 92286608
		(968) 96666619
3) Operational Address & Contact Details:
Address	:	Seeb Al Amabilah, Al Snaiya Industrial Area
Town	:	Muscat
Country	:	Oman
PO Box	:	320
Phone (s)	:	(968) 92286608
		(968) 96666619
Note:
Please note that the correct PO Box number is 320 and not 1111
:
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category	:	Limited Liability Company – LLC
Date of Registration	:	15th May 2012
Commercial Registration Number	:	1/14532/0
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number	:	15699
KEY FACTS
Operational Status	:	Steady
Financial Condition	:	Fair
Primary Business Activity	:	Distributors of building materials and providers of building solutions
Number of Employees	:	7
Capital	:	RO 150,000
Note:
Engaged in the import and distribution of building materials and providers of building solutions.
CAPITAL DETAILS
Issued Capital:
No of Shares		No of Shares	Amount
N/A		N/A	RO 150,000
Paid Up Capital:
No of Shares		No of Shares	Amount
N/A		N/A	RO 150,000
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Riyal Omani (RO)
		Year Ending 31/12/13	Year Ending 31/12/14
Total Sales		RO 615,000	RO 650,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
BANKERS
1	Name	Commercial Bank of Oman SAOG
	Address	Muttrah Business District
	PO Box	1696, Ruwi 112 Muscat
	Tel	(968) 24793225
		(968) 24793226
		(968) 24793228
	Fax	(968) 24793229
SHAREHOLDERS
Sr.No	Name	Nationality	Percentage
1	Amir Ahmed Habib	Indian	51%
2	Hamad Bin Salem Mohamed Al Maliki	Omani	49%
Total Shares			100%
SENIOR MANAGEMENT
Sr.No	Name	Nationality	Dsignation
1	Hamad Bin Salem Mohamed Al Maliki	Omani	Managing Director
2	Amir Ahmed Habib	Indian	Director
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country	Activity
1	Europe	Import
2	Far East	Import
PREMISES
Subject operates from a small suite of offices that are rented and located in the Industrial Area of Muscat.
PAYMENT
No complaints regarding subject’s payments have been reported.
ADVERSE DATA
Performance Defaults	:	No record found
Payment Defaults	:	No record found
Adverse Press Coverage	:	No record found
Litigations	:	No record found
Former Business Relationships	:	No record found
INVESTIGATOR'S COMMENTS
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.66.79
UK Pound	1	Rs.101.10
Euro	1	Rs.73.10
Riyal Omani (RO)	1	Rs.174.39

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	TRI
Report Prepared by :	TPT

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%)

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