MIRA
INFORM REPORT
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Report Date : |
04.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL
MUTAWA COMMERCIAL CENTRE |
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Registered Office : |
Building No. 285, Street No. 305, Area No. 203, P O Box
22833, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1st July 2001 |
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Com. Reg. No.: |
11238, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of building materials, hardware and tools, as
well as carpentry 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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MUTAWA COMMERCIAL CENTRE
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 1st July 2001
Commercial Registration Number : 11238, Manama
Membership Number : 11986
Invested Capital : BD 50,000
Total Workforce : 10
Line of Business :
Import and distribution of building materials,
hardware and tools, as well
as carpentry products. Subject also offers
general building contracting
services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL
MUTAWA COMMERCIAL CENTRE
ADDRESS
Registered & Physical Address
Location : Building No.
285, Street No. 305, Area No. 203
PO Box : 22833
Town : Manama
Country : Bahrain
Telephone : (973) 411010
Facsimile : (973) 414494
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Manama.
KEY PRINCIPALS
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Hussain
Abdullah Mohamed Al Mutawa Proprietor
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Mohamed
Hussain Abdullah Mohamed Al Mutawa General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
July 2001
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 11238, Manama
Membership No. : 11986
Invested Capital
: BD 50,000
Mr Hussain Abdullah Mohamed Al Mutawa 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
import and distribution of building materials, hardware and tools, as well as
carpentry products.
Subject also offers general building contracting services.
Import
Countries: Saudi Arabia,
Japan and Europe.
Operating Trend: Steady
Subject has a
workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below:
Currency : Bahraini
Dinar (BD)
Year
Ending 31/12/05: Year Ending
31/12/06:
Total Revenue BD 875,000 BD 930,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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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
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
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
business 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. |
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%)