MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
FAISAL HASHIM
TRADING CO WLL |
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Registered Office : |
Office No. 229, Block 321, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
25th May 2000 |
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Com. Reg. No.: |
45261, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the import
and distribution of general foodstuff 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : FAISAL HASHIM TRADING CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 25th May 2000
Commercial Registration Number :
45261,
Issued Capital : BD 10,000
Paid up Capital : BD 10,000
Total Workforce : 7
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
FAISAL HASHIM
TRADING CO WLL
ADDRESS
Registered & Physical Address
Location : Office No.
229, Block 321
Street :
PO Box : 21517 &
1096
Town :
Country :
Telephone : (973-17) 242320
Facsimile : (973-17) 242320
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Manama.
KEY PRINCIPALS
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Faisal
Hashim Ismail Al Sayed Managing Director
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Fayeqah
Abdul Qader Mohamed Abdul Qader Director
LEGAL FORM &
OWNERS
Date of Establishment : 25th
May 2000
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 45261,
Issued Capital : BD 10,000
Paid up Capital : BD 10,000
Name of Shareholder
(s)
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Faisal
Hashim Ismail Al Sayed
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Fayeqah
Abdul Qader Mohamed Abdul Qader
Notes to the legal Form
Limited Liability Companies, which are known in
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.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
general foodstuff products.
Import Countries
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Operating Trend
: Steady
Subject has a
workforce of 7 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Bahraini
Dinars (BD)
Year
Ending 31/12/05 : Year Ending
31/12/06 :
Total Revenue BD
790,000 BD
825,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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PO Box : 5240
Tel : (973-17) 231402
Fax : (973-17) 275734
Acc No. 100000024814
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2000, subject is owned and managed by Mr Faisal Hashim Ismail Al Sayed and Mr Fayeqah Abdul Qader
Mohamed Abdul Qader who are both well respected in the local business
community.
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk 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. |
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%)