MIRA
INFORM REPORT
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Report Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
CRAFT
LAND |
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Registered Office : |
Shawaram
Alley, PO Box : 15246, Adliya, Bahrain. |
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Country : |
Bahrain |
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Date of Incorporation : |
17.08.1989 |
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Com. Reg. No.: |
17059, Manama |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Wholesalers and retailers of handicrafts including wood carvings, embroideries, rugs, brass inlaid rosewood furniture, paintings and wall hangings. |
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 |
CRAFT LAND |
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Country of Origin |
Bahrain |
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Legal Form |
Sole Proprietorship |
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Registration Date |
17th August 1989 |
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Commercial Registration Number |
17059, Manama |
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Membership Number |
2694 |
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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 handicrafts. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
CRAFT
LAND
ADDRESS
Registered & Physical Address
Location : Shawaram Alley
PO Box : 15246
Town : Adliya
Country : Bahrain
Telephone : (973-17) 715348
Facsimile : (973-17) 715348
Mobile : (973-39) 650465
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Adliya.
Branch Offices
Location Description
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Yateem
Centre, Shop No. 23 Showroom
premises
Manama
Tel : (973-17) 211783
KEY PRINCIPALS
·
Salama
Abdullah Hassan Ali Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 17th August 1989
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 17059, Manama
Membership No. : 2694
Invested
Capital : BD 50,000
Ms
Salama Abdullah Hassan Ali 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 handicrafts, including wood carvings,
embroideries, rugs,
brass inlaid rosewood furniture, paintings and wall
hangings.
Import
Countries :
Europe and GCC countries.
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 590,000 BD
635,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Bank
of Bahrain & Kuwait
Airport Branch
PO Box : 597
Manama
Tel : (973-17) 321323 / 321322
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1989, subject is involved in the wholesale and retail of handicrafts,
including wood carvings, embroideries, rugs, brass inlaid rosewood furniture,
paintings and wall hangings.
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 |
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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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