MIRA
INFORM REPORT
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Report Date : |
29th
December, 2006 |
IDENTIFICATION
DETAILS
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Name : |
LA
ROUND IMPORT & EXPORT FOODSTUFF EST |
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Registered Office : |
Building
No. 194, Flat No. 16, Block No. 312, Road No. 1204, PO Box: 37073, Manama,
Bahrain |
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Country : |
Bahrain |
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Date of Incorporation : |
01.08.2000 |
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Com. Reg. No.: |
31392,
Manama |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged
in the import and distribution of general foodstuff products, including rice,
lentils, spices and other dried foods. |
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
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Company Name |
LA
ROUND IMPORT & EXPORT FOODSTUFF EST |
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Country of Origin |
Bahrain |
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Legal Form |
Sole
Proprietorship |
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Registration Date |
1st
August 2000 |
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Commercial Registration Number |
31392,
Manama |
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Invested Capital |
BD
50,000 |
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Total Workforce |
8 |
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Line of Business |
Distributors
of general foodstuff products. |
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Financial Condition |
Fair |
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Payments |
Nothing
detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
LA ROUND
IMPORT & EXPORT FOODSTUFF EST
ADDRESS
Registered & Physical Address
Building : Building No. 194, Flat No. 16,
Block No. 312
Street : Road No. 1204
PO Box : 37073
Town : Manama
Country : Bahrain
Telephone : (973-17) 240030
Facsimile : (973-17) 271752
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Manama.
KEY PRINCIPALS
· Fouad Shaheen Rashid Al Jalhama Proprietor &
General Manager
· K D Chandaran Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st August 2000
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 31392, Manama
Invested
Capital : BD 50,000
Mr Fouad
Shaheen Rashid Al Jalhama 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 general foodstuff products, including
rice, lentils, spices
and other dried foods.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Bahraini Dinar (BD)
Year Ending
31/12/04 : Year
Ending 31/12/05 :
Total
Revenue BD 725,000 BD
850,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Bank
of Bahrain & Kuwait
43 Government Avenue
PO Box : 597
Manama
Tel :
(973-17) 253388
Fax :
(973-17) 275785
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 Fouad Shaheen Rashid Al Jalhama 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/normal. |
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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