MIRA
INFORM REPORT
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Report Date : |
16th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
NADER & EBRAHIM S/O HASSAN
CO WLL |
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Registered Office : |
Central
Market Building, Market Road, Manama Central Market, PO Box : 20070, Manama,
Bahrain |
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Country : |
Bahrain |
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Date of Incorporation : |
1973 |
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Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Wholesale and retail of fresh fruits and vegetables. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
NADER & EBRAHIM S/O HASSAN CO 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 |
1973 |
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Issued Capital |
BD 200,000 |
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Paid up Capital |
BD 200,000 |
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Total Workforce |
23 |
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Line of Business |
Wholesale and retail of fresh fruits and vegetables. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
NADER
& EBRAHIM S/O HASSAN CO WLL
ADDRESS
Registered & Physical Address
Building : Central Market Building
Street : Market Road
Area : Manama Central Market
PO Box : 20070
Town : Manama
Country : Bahrain
Telephone : (973-17) 241207 / 241211
Facsimile : (973-17) 233405
Email : nadebrco@batelco.com.bh
Premises
Subject
operates from a medium sized suite of offices, a showroom and a warehouse that
are rented and located in the Central Business Area of Manama.
KEY PRINCIPALS
·
Nader
Hassan Al Ameer Managing
Director
·
Ebrahim
Hassan Al Ameer Director
·
M.
Joseph Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1973
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Issued
Capital : BD 200,000
Paid
up Capital : BD 200,000
Name of Shareholder (s) Percentage
·
Nader
Hassan Al Ameer 50%
·
Ebrahim
Hassan Al Ameer 50%
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
·
Nader & Ebrahim S/O Hassan Philippines Inc
1 Ladislawa
Building
Ladislawa Avenue
Buhangin, Davao
City 8000
Philippines
Tel: (63-82) 2245637/38
Fax:
(63-82) 2245636
Email:
info@nehphil.com
LINE OF BUSINESS
Operations
: Engaged in the
wholesale and retail of fresh fruits, berries, green vegetables and root and
tuberous vegetables.
Import
Countries :
United Kingdom and the Philippines.
Operating
Trend : Steady
Subject
has a workforce of 23 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
780,000 BD
830,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
HSBC
Bank Middle East
93 Al Khalifa Avenue
PO Box : 57
Manama 304
Tel :
(973-17) 224555 / 222158
Fax :
(973-17) 226822
Email :
bbmemnm@batelco.com.bh
·
Standard
Chartered Bank
Standard Chartered Bank Building
Government Road
PO Box : 29
Manama
Bahrain
Tel :
(973-17) 209672
Fax :
(973-17) 209691
·
Banque
Paribas
Commercial Area
PO Box : 5993
Manama
Tel :
(973-17) 259272 / 253119
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of
transaction May
2005
Credit
amount 30,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency US
Dollars
GENEsRAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Nader
& Ebrahim S/O Hassan Co WLL has been trading for over 30 years and is well established
in the local market. The company is run in a professional manner and
specialises in the wholesale and retail of fresh fruits and vegetables.
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 company is considered to be a fair trade risk and the above credit figure
is 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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