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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

507169

Report Date :

02.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

OMAN INSECTICIDES & AIR FRESHNERS (TOX)

 

 

Registered Office :

Rusayl Industrial Estate, Al Seeb, PO Box, 42005, Muscat 124

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

16.10.1984

 

 

Com. Reg. No.:

1/21336/9

 

 

Legal Form :

Limited Liability Company – LLC

 

 

Line of Business :

Subject engaged in the manufacture of detergents, soaps, toiletries, insecticides, lubricants, air fresheners and other industrial aerosol products

 

 

No. of Employees :

180

 

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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                                    : OMAN INSECTICIDES & AIR FRESHNERS (TOX)

Country of Origin                                   : Oman

Legal Form                                           : Limited Liability Company – LLC

Registration Date                                  : 16th October 1984

Commercial Registration Number           : 1/21336/9

Issued Capital                                       : RO 500,000

Paid up Capital                                     : RO 500,000

Total Workforce                                                : 180

Activities                                               : Manufacture of detergents, soaps, toiletries, insecticides, lubricants, air

                                                              fresheners and other industrial aerosol products

Financial Condition                                : Fair

Payments                                             : No Complaints

Operating Trend                                    : Steady

 

 

 

COMPANY NAME

 

OMAN INSECTICIDES & AIR FRESHNERS (TOX)

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Rusayl Industrial Estate, Al Seeb

 

PO Box                        : 42005

 

Town                : Muscat 124

Country : Oman

 

Telephone         : (968) 24446040

Facsimile          : (968) 24446041

Mobile              : (968) 92958871

Email                : oiafco@omantel.net.om

 

Premises

Subject operates from a medium sized suite of offices a warehouse and a factory that are rented and located in the Industrial Area of Muscat.

 

Branch Office (s)

     Location                                                                                                       Description

·       Sohar Industrial Estate                                                                                  Laboratory and factory premises

Sohar

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                                 Position

 

·       Redha Baqir Sulaiman Al Lawati                    Omani                                       Managing Director

 

·       Mohamed Abdul Hussain Baqer Al Lawati      Omani                                       Director

 

·       Varughese Zacheria Panthappattu                 Indian                                       Director

 

·       Sami Redha Baqer Al Lawati                             -                                           Director

 

·       Saji Kumar                                                       -                                           Accounts Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 16th October 1984

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.   : 1/21336/9

 

Issued Capital              : RO 500,000

 

Paid up Capital            : RO 500,000

 

Name of Shareholder (s)                               Percentage

 

·       Redha Baqir Sulaiman Al Lawati                                50%

 

·       Mohamed Abdul Hussain Baqer Al Lawati                  50%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of detergents, soaps, toiletries, insecticides, lubricants, air fresheners and other industrial aerosol products.

 

Import Countries: Europe and the Far East

 

Operating Trend: Steady

 

Subject has a workforce of approximately 180 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 2,700,000                            RO 3,000,000

 

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

 

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

BANKERS

 

·       HSBC Middle East

PO Box: 234

Muscat 113

Tel: (968) 24736041 / 24736042

Fax: (968) 24736043

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Please note that the commercial registration number 1/21336/0 belongs to a company called “Nasaeem Air”.

 

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.

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the company is deemed a fair trade risk.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

OMR

1

INR 173.18

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

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.