MIRA
INFORM REPORT
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Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
AL
BUSTANI TRADING EST |
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Registered Office : |
Central
Market, PO Box: 216626 & 10935, Manama, Bahrain. |
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Country : |
Bahrain |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
18273, Manama |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Wholesalers and retailers of fruit, vegetables and general foodstuff 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$
200,000 |
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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 |
AL BUSTANI TRADING EST |
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Country
of Origin |
Bahrain |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
1998 |
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Commercial
Registration Number |
18273, Manama |
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Invested
Capital |
BD 250,000 |
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Total
Workforce |
65 |
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Line
of Business |
Wholesalers and retailers of fruit, vegetables and 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
AL
BUSTANI TRADING EST
ADDRESS
Registered & Physical Address
Location : Central Market
PO Box : 216626 & 10935
Town : Manama
Country : Bahrain
Telephone : (973-17) 270946
Facsimile : (973-17) 270319
Email : bustani@batelco.com.bh
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Manama.
Branch Offices
Subject has 3 stores located in Manama.
KEY PRINCIPALS
· Abdul Reda Abu Al Hassan Proprietor
& General Manager
· Mahmoud Abu Al Hassan Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 18273, Manama
Invested
Capital : BD 250,000
Mr Abdul
Reda Abu Al Hassan 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 fruit, vegetables and general foodstuff
products.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 65 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 1,800,000 BD
2,050,000
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 1998, subject is owned and managed by Mr Abdul Reda Abu Al Hassan 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$ 200,000
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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