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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

488016

Report Date :

27.01.2018

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL ELECTRIC CO LLC

 

 

Registered Office :

Ghala, 364, Muscat

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

16.11.1976

 

 

Com. Reg. No.:

1/04928/3

 

 

Legal Form :

Limited Liability Company – LLC

 

 

Line of Business :

subject is engaged in the import and distribution of heating and air conditioning systems

 

 

No. of Employees :

22

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Oman

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

OMAN - ECONOMIC OVERVIEW

\

 

Source : CIA

 

SUMMARY

 

Company Name                                    : INTERNATIONAL ELECTRIC CO LLC

Country of Origin                                   : Oman

Legal Form                                           : Limited Liability Company – LLC

Registration Date                                  : 16th November 1976

Commercial Registration Number           : 1/04928/3

Issued Capital                                       : RO 150,000

Paid up Capital                                     : RO 150,000

Total Workforce                                                : 22

Activities                                               : Distributors of heating and air conditioning systems

Financial Condition                                : Fair

Payments                                             : No Complaints

Operating Trend                                    : Steady

COMPANY NAME

 

 INTERNATIONAL ELECTRIC CO LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Ghala

 

PO Box                        : 364

 

Town                : Muscat

Country : Oman

 

Telephone         : (968) 24592352

Facsimile          : (968) 24590076

Mobile              : (968) 99218482

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Muscat.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Al Sayyida Wafa Hamed Homoud Al Busaidi                                     Managing Director

 

·       Al Sayyida Naela Hamed Homoud Al Busaidi                         Director

 

·       Zawan Hamed Sulaiman Al Nabhani                                       Director

 

·       Al Sayyida Hana Hamed Homoud Al Busaidi                                      Director

 

·       Sujay Ajit Kumar Karsandas Hamlai                                                   Director

 

·       Al Sayyida Iman Hamed Homoud Al Busaidi                                      Director

 

·       Ajay Ajit Kumar Karsandas Hamlai                                                     Director

 

·       Al Sayyida Khalid Hamed Homoud Al Busaidi                                    Director

 

·       Al Sayyida Aymen Hamed Homoud Al Busaidi                                   Director

 

·       Al Sayyida Badr Hamed Homoud Al Busaidi                                      Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 16th November 1976

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.   : 1/04928/3

 

Issued Capital              : RO 150,000

 

Paid up Capital            : RO 150,000

 

Name of Shareholder (s)                                                          Percentage

 

·       Sujay Ajit Kumar Karsandas Hamlai                                                   41.70%

 

·       Ajay Ajit Kumar Karsandas Hamlai                                                     41.70%

 

·       Al Sayyida Khalid Hamed Homoud Al Busaidi                                                  2.89%

 

·       Al Sayyida Aymen Hamed Homoud Al Busaidi                                     2.89%

 

·       Al Sayyida Badr Hamed Homoud Al Busaidi                                        2.89%

 

·       Zawan Hamed Sulaiman Al Nabhani                                                     2.17%

 

·       Al Sayyida Wafa Hamed Homoud Al Busaidi                                       1.44%

 

·       Al Sayyida Naela Hamed Homoud Al Busaidi                                       1.44%

 

·       Al Sayyida Hana Hamed Homoud Al Busaidi                                        1.44%

 

·       Al Sayyida Iman Hamed Homoud Al Busaidi                                        1.44%

 

 

AFFILIATED COMPANIES

 

·       Al Bahja Construction Company LLC

 

·       International Marketing & Agencies LLC

 

·       International Refrigeration & Air Conditioning Co (Oman) LLC

 

·       International Sanitation Company (Oman) LLC

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of heating and air conditioning systems.

 

Import Countries: Europe and the Far East

 

Operating Trend: Steady

 

Subject has a workforce of 22 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Riyal Omani (RO)

 

                                                Year Ending 31/12/16:               Year Ending 31/12/17:

 

Total Sales                                RO 1,900,000                            RO 2,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Bank of Muscat

     Al Burj Street

     Greater Muttrah

     PO Box: 6326, Ruwi

     Muscat

     Tel: (968) 24701769

     Fax: (968) 24796488

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

The subject and its shareholders/owners have been searched in the following databases; Office of Foreign Assets Control (OFAC), United Nations Security Council Sanctions, Australian Sanctions List, US Consolidated Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and nothing adverse could be found on the exact names listed within the report.

 

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

INR 63.64

UK Pound

1

INR 89.32

Euro

1

INR 78.45

OMR

1

INR 165.13

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.