MIRA
INFORM REPORT
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Report Date : |
01.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
MISHWAR BOUTIQUE |
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Registered Office : |
Sitra
Shop 71, Building No. 3, Road No. 301, P. O. Box 70016, Hamad |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
01.12.1996 |
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Com. Reg. No.: |
36577 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the wholesale and retail of ready made garments and clothing accessories. |
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
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Company Name |
MISHWAR BOUTIQUE |
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Country of Origin |
Bahrain |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1st December 1996 |
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Commercial Registration Number |
36577 |
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Membership Number |
7344 |
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Invested Capital |
BD 50,000 |
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Total Workforce |
6 |
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Line of Business |
Wholesalers and retailers of ready made garments and clothing accessories. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
MISHWAR BOUTIQUE
ADDRESS
Registered & Physical
Address
Building : Sitra Shop 71, Building No. 3
Street : Road No. 301
PO Box : 70016
Town : Hamad
Country : Bahrain
Telephone : (973-17) 413898
Facsimile : (973-17) 413898
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Hamad.
KEY PRINCIPALS
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Fatima
Ali Mahdi Ramadan Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st December 1996
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 36577
Membership No. : 7344
Invested
Capital : BD 50,000
Ms
Fatima Ali Mahdi Ramadan 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 and clothing accessories.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 6 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 720,000 BD
775,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of Bahrain BSC
Sitra Branch
PO
Box : 106
Manama
Tel
: (973-17) 731128
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1996, subject is involved in the wholesale and retail of ready made garments
and clothing accessories.
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 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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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