MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
RAZAN TRADING
ESTABLISHMENT |
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Registered Office : |
Building No.
1942, Road No. 1632, Complex No. 216, |
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Country : |
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Date of Incorporation : |
27th September 2006 |
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Com. Reg. No.: |
24441-6 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of general foodstuff products and spices. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 30,000 |
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Status : |
New & Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : RAZAN TRADING ESTABLISHMENT
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 27th September 2006
Commercial Registration Number : 24441-6
Invested Capital : BD 20,000
Total Workforce : 8
Line of Business : Wholesalers and retailers of general foodstuff
products and spices.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
RAZAN TRADING
ESTABLISHMENT
ADDRESS
Registered & Physical Address
Building : Building No. 1942
Street : Road No. 1632
Area : Complex No. 216
PO Box : 22116
Town : Muharaq
Country : Bahrain
Telephone : (973-17) 322800
Facsimile : (973-17) 322881
Mobile : (973-39) 670099
Premises
Subject operates
from a small suite of offices, a showroom and a warehouse that are rented and
located in the Central Business Area of Muharaq.
KEY PRINCIPALS
·
Khalid
Ali Hassan Hamadah Proprietor
& General Manager
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Ismail Hassan Assistant
General Manager
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Ibrahim
Nour Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 27th
September 2006
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 24441-6
Invested Capital
: BD 20,000
Mr Khalid Ali Hassan Hamadah 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
general foodstuff products and spices.
Import Countries
: Europe and the
Subject has a
workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Standard
Chartered Bank
Government Road
PO Box : 29
Tel : (973-17) 223636
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Investigations undertaken
in Muharaq did not reveal any sign of payment defaults or delays during initial
trading stages, and subject is believed to meet its payment obligations in a
timely manner, nevertheless, and in view of the company’s infancy and the lack
of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
Maximum suggested
credit figure: US$ 30,000
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)