MIRA
INFORM REPORT
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Report Date : |
8th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ALI AHMED AL KUWAITI |
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Registered Office : |
Awal Building, 2nd Floor, Office No. 203 Government Road, 1804 Manama, Bahrain |
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Country : |
Bahrain |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
19th May 1968 |
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Com. Reg. No.: |
994, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of automotive spare parts,
hydraulic and pneumatic machinery, ironmongery, hardware, metal pipes and tubes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
ALI AHMED AL KUWAITI |
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Country of Origin |
Bahrain |
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Legal Form |
Sole Proprietorship |
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Registration Date |
19th May 1968 |
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Commercial Registration Number |
994, Manama |
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Membership Number |
352 |
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Invested Capital |
BD 50,000 |
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Total Workforce |
30 |
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Line of Business |
Distributors of automotive spare parts, hydraulic and pneumatic machinery, ironmongery, hardware, metal pipes and tubes. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ALI AHMED AL KUWAITI
ADDRESS
Registered & Physical Address
Building : Awal Building, 2nd Floor, Office No. 203
Street : Government Road
PO Box : 1804
Town : Manama
Country : Bahrain
Telephone : (973-17) 224135 / 210146 / 213060
Facsimile : (973-17) 211533
Email : carnet@batelco.com.bh
Premises
Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
Sitra Industrial Area Warehouse premises
Tel : (973-17) 700064
Fax : (973-17) 700048
KEY PRINCIPALS
Ali Ahmed Al Haj Mohamed Al Kuwaiti Proprietor
Ahmed Ali Al Haj Mohamed Al Kuwaiti General Manager
Yousuf Ali Ahmed Al Haj Mohamed Al Kuwaiti Commercial Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th May 1968
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 994, Manama
Membership No. : 352
Invested Capital : BD 50,000
Mr Ali Ahmed Al Haj Mohamed Al Kuwaiti is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations :
Engaged in the import and distribution of automotive spare parts and equipment,
hydraulic and pneumatic machinery, ironmongery and hardware, metal pipes and tubes.
Import Countries : Germany and Italy.
International Suppliers :
Hazet Germany
Spies Hecker Germany
Brand Names : PIRELLI
Operating Trend : Steady
Subject has a workforce of 30 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Bahraini Dinars (BD)
Year Ending 31/12/04 Year Ending 31/12/05
Total Revenue BD 1,260,000 BD 1,310,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of Bahrain BSC
Government Road
PO Box : 106
Manama
Tel : (973-17) 258800
Fax : (973-17) 263876
Bank of Bahrain & Kuwait
43 Government Road
PO Box : 597
Manama
Tel : (973-17) 253388
Fax : (973-17) 275785
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Established in 1968, subject is involved in the import and distribution of automotive spare parts and equipment, hydraulic and pneumatic machinery, ironmongery and hardware, metal
pipes and tubes.
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.
Maximum suggested credit figure: US$ 175,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |