MIRA INFORM REPORT
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Report Date : |
18th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AL
MOSAWI TRADING & ELECTRICAL
CONTRACTING |
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Date of Incorporation : |
7th July 1976 |
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Com. Reg. No.: |
3552,
Manama |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Import, wholesale and
retail of electrical accessories as well as offering electrical contracting
services |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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
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Company Name |
AL MOSAWI TRADING & ELECTRICAL CONTRACTING |
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Country of Origin |
Bahrain |
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Legal Form |
Sole Proprietorship |
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Registration Date |
7th July 1976 |
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Commercial Registration Number |
3552, Manama |
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Membership Number |
7320 |
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Invested Capital |
BD 50,000 |
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Total Workforce |
22 |
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Line of Business |
Import, wholesale and retail of electrical accessories as well as offering electrical contracting services |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL MOSAWI TRADING & ELECTRICAL CONTRACTING
ADDRESS
Registered & Physical Address
Location : Sheikh Hamad Avenue, Shop No. 99
PO Box : 5373
Town : Manama
Country : Bahrain
Telephone : (973-17) 270000 / 255599
Facsimile : (973-17) 261503
Email : almosawi@batelco.com.bh
Premises
Subject operates from a medium sized suite of offices, a warehouse and a showroom that are rented and located in the Central Business Area of Manama.
KEY PRINCIPALS
Sayed Ali Ahmed Ali Al Mosawi Proprietor & General Manager
Hassan Sayed Ali Ahmed Ali Al Mosawi Assistant General Manager
Sadiqq Al Mosawi Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th July 1976
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 3552, Manama
Membership No. : 7320
Invested Capital : BD 50,000
Mr Sayed Ali Ahmed Ali Al Mosawi 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, wholesale and
retail of electrical accessories and car batteries. Subject also offers
electrical contracting services.
Import Countries : United Arab Emirates, Saudi Arabia
and India.
International Suppliers :
Middle East Specialised Cables Factory (MESC) United Arab Emirates
Nardeen Lighting Saudi Arabia
Bajaj Industry India
Operating Trend : Steady
Subject has a workforce of 22 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 690,000 BD 740,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Shamil Bank of Bahrain
Seef Tower
PO Box 3005
Manama
Tel: (973-17) 585000
Fax: (973-17) 585151
National Bank of Bahrain BSC
NBB Tower
Government Road
PO Box : 106
Manama
Tel : (973-17) 258800
Fax : (973-17) 263876
Bank of Bahrain & Kuwait
43 Government Avenue
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
Al Mosawi Trading & Electrical Contracting is well established in the local market with operations dating back 1976. It specialises in the import, wholesale and retail of electrical accessories and car batteries, as well as offering electrical contracting services.
The business deals with a number of well known international organisations and enjoys a good reputation for the quality of its products.
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 business is considered to be a fair trade risk and the above credit figure is deemed admissible.
Maximum suggested credit figure: US$ 150,000
RATING EXPLANATIONS
RATING
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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 |