MIRA
INFORM REPORT
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Report Date : |
15th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
DELMON BAKERY WLL |
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Registered Office : |
Building No. 88, Block 210, Road 1005, PO
Box: 954, Muharraq, Bahrain |
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Country : |
Bahrain |
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Date of Incorporation : |
1970 |
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Com. Reg. No.: |
567, Manama |
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Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Manufacturers of sweets, confectionery and bakery products. |
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$
250,000 |
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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 |
DELMON BAKERY WLL |
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Country of Origin |
Bahrain |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
1970 |
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Commercial Registration Number |
567, Manama |
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Issued Capital |
BD 150,000 |
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Paid up Capital |
BD 150,000 |
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Total Workforce |
65 |
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Line of Business |
Manufacturers of sweets, confectionery and bakery products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
DELMON
BAKERY WLL
ADDRESS
Registered & Physical Address
Building : Building No.
88, Block 210
Street : Road 1005
PO Box : 954
Town : Muharraq
Country : Bahrain
Telephone : (973-17) 343111
/ 341497
Facsimile : (973-17)
344965 / 343111
Email : binmahmd@batelco.com.bh
Premises
Subject
operates from a medium sized suite of offices and a factory that are owned and
located in the Industrial Area of Muharraq.
KEY PRINCIPALS
·
Mohamed
Mahmood Mohamed Hussain Bin Mahmood Managing
Director
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Ahmed
Mahmood Mohamed Hussain Bin Mahmood Director
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Issa
Mahmood Mohamed Hussain Bin Mahmood Director
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Abdulaziz
Mohamed Hussain Bin Mahmood General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1970
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 567, Manama
Issued
Capital : BD 150,000
Paid
up Capital : BD 150,000
Name of Shareholder (s)
·
Mohamed
Mahmood Mohamed Hussain Bin Mahmood
·
Ahmed
Mahmood Mohamed Hussain Bin Mahmood
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Issa
Mahmood Mohamed Hussain Bin Mahmood
Notes to the legal Form
Limited Liability Companies, which are known in Bahrain as WLLs (“With Limited Liability”), are the most commonly used corporate entities in Bahrain. They are the equivalent of French SARLs, German GmbHs or private companies in the United Kingdom. The WLL is the most common form of company where 100 percent foreign ownership is permitted.
Under the Bahraini Commercial Companies Law a WLL may be formed by a minimum of 2 and a maximum of 50 natural or legal persons, whose liability is limited to their shares in the company’s capital. The minimum amount of paid-up capital required is BD 10,000. Contributions to capital may be made in cash of kind. With a normal renewable term of 25 years, equal shares must amount to at least BD 50 each. Public shares are not permitted nor is the negotiation of warrants. WLLs cannot conduct saving, banking or investment operations on behalf of others.
AFFILIATED COMPANIES
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Mahmood
Mohamed Hussain Bin Mahmood & Sons
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Bahrain
Bakery
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Kingdom
Automatic Bakery
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International
Import Agencies WLL
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French
Bakery
LINE OF BUSINESS
Operations
: Engaged in the
manufacture of sweets, confectionery and bakery products.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 65 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Bahraini Dinars (BD)
Year
Ending 31/12/04 : Year Ending
31/12/05 :
Total Revenue BD 2,700,000 BD 3,050,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
Arab Bank Plc
PO Box : 813
Manama
Tel : (973-17) 212255
Fax : (973-17) 231640
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1970, subject is involved in the manufacture of sweets, confectionery and
bakery products.
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$ 250,000
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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