MIRA
INFORM REPORT
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Report Date : |
13th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
AL
TAWABEL FOOD STUFF |
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Registered Office : |
Building
No. 36, Way No. 354, Complex No. 306, PO Box: 11517, Manama, Bahrain |
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Country : |
Bahrain |
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Date of Incorporation : |
May 2000 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
The company
is engaged in the Import and Distributors of General
Foodstuff Products.,
including Herbs and Spices. |
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$
150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL TAWABEL FOODSTUFF
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : May 2000
Membership Number : 9261
Invested Capital : BD 30,000
Total Workforce : 5
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL
TAWABEL FOODSTUFF
ADDRESS
Registered & Physical
Address
Location : Building No. 36, Way No. 354, Complex
No. 306
PO Box : 11517
Town : Manama
Country : Bahrain
Telephone : (973-17) 294859
Facsimile : (973-17) 294859
Mobile : (973-39) 305418
Email : tawabelfood@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Manama.
KEY PRINCIPALS
·
Ahmed
Salman Kamal Proprietor
& General Manager
·
P
Jose Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : May 2000
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Membership No. : 9261
Invested
Capital : BD 30,000
Mr Ahmed
Salman Kamal 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 general foodstuff products, including
herbs and
spices.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Bahraini Dinar (BD)
Year Ending
31/12/04 : Year Ending 31/12/05 :
Total
Revenue BD 520,000 BD 550,000
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
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2000, subject is owned and managed by Mr Ahmed Salman Kamal who is well
respected in the local business community.
According
to local sources, subject’s financial condition is satisfactory whilst payments
are made in a timely manner. The company’s operating history is reportedly
clear and the above credit figure is considered to be within subject’s
financial means.
Maximum
suggested credit figure: US$ 150,000
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 |