|
|
|
MIRA INFORM REPORT
|
Report No. : |
487990 |
|
Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
OHI TELECOMMUNICATIONS CO LLC |
|
|
|
|
Registered Office : |
OHI Building, 87 Dohat Al Adab Street, Al Khuwair, 889, Muscat
113, |
|
|
|
|
Country : |
Oman |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
1979 |
|
|
|
|
Com. Reg. No.: |
1/17493/2 |
|
|
|
|
Legal Form : |
Limited
Liability Company – LLC |
|
|
|
|
Line of Business : |
Subject’s activities include design and engineering,
equipment supply, installation, maintenance, consulting, training, operations
and maintenance support services. The company’s operations are performed through the following divisions · IT Division · Communications Projects Division · Radio Communications Division |
|
|
|
|
No. of Employees : |
250 |
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
Oman is heavily dependent on its dwindling oil resources, which generate 84% of government revenue. In 2016, low global oil prices drove Oman’s budget deficit to $11.5 billion, or approximately 19% of GDP, but the budget deficit was reduced to 13% of GDP in 2017 as Oman reduced government subsidies. Oman has limited foreign assets and is issuing debt to cover its deficit.
Oman is using enhanced oil recovery techniques to boost production, but has simultaneously 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% at present to 9% by 2020 in accordance with Oman’s ninth five-year development plan. Tourism and gas-based industries are key components of the government's diversification strategy.
Muscat also has notably focused on creating more Omani jobs to employ the rising number of nationals entering the workforce. However, high social welfare benefits — that had increased in the wake of the 2011 Arab Spring — have challenged the government's ability to effectively balance its budget in light of low export oil prices. In response, Omani officials imposed austerity measures to its gasoline and diesel subsidies in 2016, with further subsidy cuts planned for electricity and liquid petroleum gas. The spending cuts have faced some public opposition, which could hinder their implementation.
|
Source
: CIA |
SUMMARY
Company Name :
OHI TELECOMMUNICATIONS CO LLC
Country of Origin :
Oman
Legal Form :
Limited Liability Company – LLC
Start Date :
1979
Registration Date :
7th December 1983
Commercial Registration Number : 1/17493/2
Issued Capital :
RO 500,000
Paid up Capital :
RO 500,000
Total Workforce :
250
Activities :
Providers of IT and telecommunication related products and services
Financial Condition :
Good
Payments :
No
Complaints
Operating Trend :
Steady
COMPANY
NAME
OHI
TELECOMMUNICATIONS CO LLC
ADDRESS
Registered &
Physical Address
Building :
OHI Building
Street :
87 Dohat Al Adab Street
Area :
Al Khuwair
PO Box :
889
Town :
Muscat 113
Country : Sultanate of
Oman
Telephone :
(968) 24603606 / 24609400 / 24600789 / 24603608 / 24609661
Facsimile :
(968) 24694432 / 24690789 / 24693608 / 24693606
Mobile :
(968) 99377925 / 94583035
Email : info@ohitelecom.com
/ mathew@iitcoman.com
/ arunkumarkota@ohitelecom.com
Premises
Subject operates from a large suite of offices that are
owned and located in the Central Business Area of Muscat.
KEY
PRINCIPALS
Name Position
· Maqbool
Hameed Mohamed Al Saleh Managing
Director
· Ammar
Maqbool Hameed Director
· R
Govindraj General
Manager
· David
Beare Telecom
Manager
· Jayakumar IT
Manager
· Brian
Forrester Network
Installation Manager
· Arun Kumar Kota Finance
Manager
· Mathew Varghese Chief
Accountant
LEGAL
FORM & OWNERS
Date
of Establishment : 1979,
however subject was registered on 7th December 1983
Legal
Form : Limited
Liability Company – LLC
Commercial
Reg. No. :
1/17493/2
Issued Capital : RO
500,000
Paid up Capital :
RO 500,000
Name of Shareholder (s) Percentage
· Oman
Holdings International LLC (OHI)
100%
Ammar
Centre
Nasir
Bin Murshid Street
PO
Box: 889
Muscat
Tel: (968)
24702666 / 24712240
Fax:
(968) 24703862
AFFILIATED
COMPANIES
· Eihab
Travels LLC
Eihab
Building
Muttrah
High Street
PO
Box: 889
Muscat
112
Tel:
(968) 24796387 / 24796282
Fax:
(968) 24793849
· Hydromatic
Construction Co LLC
Ammar
Centre
Ruwi
Street
PO
Box: 2915
Muscat
112
Tel:
(968) 24794796 / 24791075
Fax:
(968) 24794779
· Oman
United Exchange LLC
Saeed
Rajab Building
Muttrah
High Street
PO
Box: 889
Muscat
113
Tel:
(968) 24794305 / 24794344
Fax:
(968) 24794344
· Ibn
Sina Pharmacy LLC
Bank Muscat
Al Ahali Building
Way
No. 5011, Building No. 1238
PO
Box: 682
Al Wadi Al Kabir
Tel: (968) 24796367
Fax: (968) 24703472
· Douglas
– OHI LLC
PO
Box: 1639
Muttrah
114
Tel:
(968) 24601402
Fax:
(968) 24601562
· Oman
Tourist Corporation
PO
Box: 2195
Ruwi 112
Tel:
(968) 24704003
Fax:
(968) 24704248
· Voltamp
Manufacturing Company LLC
Al
Wadi Al Kabir
PO
Box: 1697
Jibroo
114
Tel:
(968) 25702376 / 25702377
Fax:
(968) 25795365
· Oman
Deutag Drilling Co Ltd
PO
Box: 12
Mina
Al Fahal 116
Tel:
(968) 24692410
Fax:
(968) 24697104
· Jibroo
Filling Station and Services LLC
· Phoenix
Oman LLC
· Rami
Transport & Leasing Co
· Ghadeer
Brothers LLC
· Nizwa
Tourist Co LLC
· Osco
Import & Marketing LLC
OPERATIONS
Operations : Subject’s activities include design and
engineering, equipment supply, installation, maintenance,
consulting, training, operations and
maintenance support services. The company’s operations are
performed through the following
divisions:
IT Division
The IT
Division is a leading concern in the Omani market and offers communication
services, network integration, migration services, training, system
integration, internet and internet services imaging solution, desktops,
printers and computer peripherals.
It
also offers a host of internet and Internet solutions, ranging from virtual web
hosting, web site design, internet design and development, extranets, web based
application development, online e-commerce transactions and database
integration.
OHI Telecom designs, develops and hosts websites and portals, and offers web
consultancy services as well.
Service Centre
Division
This
division was created in order to provide quality after sales care, support and
maintenance services. It currently has a maintenance contract base of over 400
clients including Government Ministries, banks, hotels, and major industrial
and commercial companies, both Omani and international.
The
division also operates a help desk, which is the only Microsoft Certified
Support Centre in Oman.
Communications
Projects Division
The
division is involved in the design, engineering, installation, commissioning
and project management of turnkey solutions in the following technology areas:
-
Switches
- PDH
& SDH Networks
- DWDM
Optical Networks
- VSAT
-
VHF/HF/UHF
-
W-LAN
-
GMDSS Networks
-
TETRA Networks
Radio Communications Division
The Radio Communications Division is involved in the supply,
installation, commissioning of the following radio products & solutions:
- HF Radios
- Barrett 950 Radio
- Barrett 923 Fax & Data System
- Barrett ATU
- VHF/UHF Radios
- Tetra Networks
- Microwave Radios
- Towers & Masts
- W-LAN
- GMDSS Networks
- Spread Spectrum Radios
Import Countries : United States of America and
the United Kingdom
International Suppliers :
· C&D
Technologies Inc United
States of America
· International
Data Sciences Inc (IDS) United
States of America
· Decibel
Products Inc United
States of America
· Jaybeam
Ltd United
Kingdom
Operating Trend : Steady
Subject has a workforce of approximately 250 employees.
FINANCIAL
DATA
Financial highlights provided by local sources are given
below:
Currency: Riyal Omani (RO)
Year
Ending 31/12/15: Year Ending
31/12/16:
Total sales RO
15,181,930 RO
18,260,758
Local sources consider subject’s financial condition to be
Good.
The above figures were provided by Mr Mathew Varghese, Chief Accountant
BANKERS
· 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
Al
Khuwair Branch
PO
Box: 5010, Ruwi
Muscat
Tel:
(968) 24603520
Fax:
(968) 24602948
PAYMENT
HISTORY
No complaints regarding subject’s payments have been
reported.
Date of transaction February 2000
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
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 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
|
OMR |
1 |
INR 165.13 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.