MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMED ALI
ASGHAR EST |
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Registered Office : |
Shop No. 55, Road
No. 1404, Area No. 314, Central Market, P O Box 26253, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
23rd May 1980 |
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Com. Reg. No.: |
10623, Manama |
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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, including sea food. |
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 : MOHAMED ALI ASGHAR EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 23rd May 1980
Commercial Registration Number : 10623, Manama
Membership Number : 3513
Invested Capital : BD 50,000
Total Workforce : 25
Line of Business : Wholesalers and retailers of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MOHAMED ALI ASGHAR
EST
ADDRESS
Registered & Physical Address
Location : Shop No. 55, Road No. 1404, Area
No. 314, Central Market
PO Box : 26253
Town : Manama
Country : Bahrain
Telephone : (973-17) 256709
Facsimile : (973-17) 233484
Mobile : (973-39) 693335
Email : maaas@batelco.com.bh
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
KEY PRINCIPALS
·
Mohamed Ali
Asghar Proprietor
& General Manager
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Mahdi
Ali Asghar Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
May 1980
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 10623, Manama
Membership No. : 3513
Invested Capital
: BD 50,000
Mr Mohamed Ali Asghar
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, including sea food.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 25 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 787,000 BD
836,000
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 1980,
subject is owned and managed by Mr Mohamed Ali Asghar who is 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%)