MIRA INFORM REPORT
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Report Date : |
18th May 2006 |
IDENTIFICATION DETAILS
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Name : |
BRADRAN
TRADING HOUSE |
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Registered Office : |
467 Government Avenue 5635, Manama Bahrain |
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Date of Incorporation : |
8th September
1960 |
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Com. Reg. No.: |
234,
Manama |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesalers
and retailers of ready made garments, handicrafts, textiles, carpets, mats,
rugs and other floor coverings. |
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$ 100,000 |
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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 |
BRADRAN TRADING HOUSE |
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Also Known As |
BRADRAN PERSIAN STORE |
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Country of Origin |
Bahrain |
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Legal Form |
Sole Proprietorship |
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Registration Date |
8th September 1960 |
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Commercial Registration Number |
234, Manama |
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Membership Number |
548 |
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Invested Capital |
BD 10,000 |
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Total Workforce |
8 |
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Line of Business |
Wholesalers and retailers of ready made garments, handicrafts, textiles, carpets, mats, rugs and other floor coverings. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
BRADRAN TRADING HOUSE
ALSO KNOWN AS
BRADRAN PERSIAN STORE
ADDRESS
Registered & Physical Address
Location : 467 Government Avenue
PO Box : 5635
Town : Manama
Country : Bahrain
Telephone : (973-17) 228655 / 535016
Facsimile : (973-17) 221940
Email : bradran@batelco.com.bh
Premises
Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Manama.
KEY PRINCIPALS
Farzaam Ali Akbar Kazerooni Proprietor & General Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th September 1960
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 234, Manama
Membership No. : 548
Invested Capital : BD 10,000
Mr Farzaam Ali Akbar Kazerooni 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 wholesale and retail of
ready made garments, handicrafts, textiles, carpets, mats, rugs and other floor
coverings.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 8 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 410,000 BD 460,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Al Ahli Commercial Bank
Government Avenue
PO Box : 5941
Manama
Tel : (973-17) 244333
Fax : (973-17) 241301
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$ 15,000,000:
Established in 1960, subject is involved in the wholesale
and retail of ready made garments, handicrafts, textiles, carpets, mats, rugs
and other floor coverings.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.
Maximum suggested credit figure: US$ 100,000
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 |