MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AGAS
INTERNATIONAL |
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Registered Office : |
Saqiya Area, P O
Box 15360, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
13th January 2001 |
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Com. Reg. No.: |
20707, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of gas and oilfield equipment. |
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 |
SUMMARY
Company Name : AGAS INTERNATIONAL
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 13th January 2001
Commercial Registration Number : 20707, Manama
Membership Number : 18097
Invested Capital : BD 75,000
Total Workforce : 12
Line of Business : Distributors of oil and gas field equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AGAS INTERNATIONAL
ADDRESS
Registered & Physical Address
Location : Saqiya Area
PO Box : 15360
Town : Manama
Country : Bahrain
Telephone : (973-17) 273752
Facsimile : (973-17) 273729
Email : agasbah@batelco.com.bh
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
·
Sheikh Khalid
Bin Salman Mohamed Al Khalifa Proprietor
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Prem Kumar General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 13th
January 2001
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 20707, Manama
Membership No. : 18097
Invested Capital
: BD 75,000
Sheikh Khalid Bin
Salman Mohamed Al Khalifa 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
gas and oilfield equipment.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 12 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 925,000 BD
1,128,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Gulf
International Bank BSC
Al Dowali Building
3 Palace Avenue
PO Box : 1017
Manama
Tel : (973-17) 534000 / 534300
/ 530030
Fax : (973-17) (973) 522633 /
522530 / 522629
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
2001, subject is involved in the import and distribution of gas and oilfield
equipment.
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.
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%)