MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL SHARAF TRADING
& CONTRACTING EST |
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Registered Office : |
Building No. 212,
Road No. 336, Area 312, P O Box 20011, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
9th September 1976 |
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Com. Reg. No.: |
5163, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of safety equipment and building materials. |
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 SHARAF TRADING & CONTRACTING EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 9th September 1976
Commercial Registration Number : 5163, Manama
Membership Number : 2108
Invested Capital : BD 70,000
Total Workforce : 12
Line of Business : Distributors of safety equipment and building materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL SHARAF TRADING
& CONTRACTING EST
ADDRESS
Registered & Physical Address
Building : Building No. 212
Street : Road No. 336
Area : Area 312
PO Box : 20011
Town : Manama
Country : Bahrain
Telephone : (973-17) 258279
Facsimile : (973-17) 274515
Premises
Subject operates
from a small suite of offices and a warehouse that are owned and located in the
Central Business Area of Manama.
KEY PRINCIPALS
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Abdullah Ahmed
Abdullah Shabaan Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
September 1976
Legal Form :
Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 5163, Manama
Membership No. : 2108
Invested Capital
: BD 70,000
Mr Abdullah Ahmed
Abdullah Shabaan 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
safety equipment and building materials.
Import Countries
: Europe and GCC countries.
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 Sales BD 808,000 BD 860,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Al Ahli
Commercial Bank
Government Avenue
PO Box : 5941
Manama
Tel : (973-17) 244333
Fax : (973-17) 241301
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1976, subject is owned and managed by Mr Abdullah Ahmed Abdullah Shabaan who is
well respected in the local business community.
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
deemed 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%)