MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
PEACOCK CARPET CENTRE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2nd November 1996 |
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Com. Reg. No.: |
33829 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged as wholesalers
and retailers of oriental rugs and oriental carpets. |
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
Company Name :
PEACOCK CARPET CENTRE
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date :
2nd November 1996
Commercial Registration Number :
33829
Invested Capital :
BD 100,000
Total Workforce :
18
Line of Business :
Wholesalers and retailers of
oriental rugs and oriental carpets.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
PEACOCK CARPET CENTRE
ADDRESS
Registered & Physical Address
Building :
Area : Adliya
PO Box : 26863
Town :
Country :
Telephone : (973-17) 713152
Facsimile : (973-17) 714134
Email : sales@peacock-carpet.com
Premises
Subject operates from a small suite of offices, a showroom and warehouse
that are owned and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
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Tel: (973-17)
780649
KEY PRINCIPALS
· Abdulrahman Ali Ahmed Diwan Proprietor
& General Manager
· Mohamed Abdulrahman Ali Ahmed Diwan Assistant General Manager
· Salah Abdulrahman Ali Ahmed Diwan Sales Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 2nd
November 1996
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 33829
Invested Capital : BD 100,000
Mr Abdulrahman Ali Ahmed
Diwan 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
as wholesalers and retailers of oriental rugs and oriental carpets.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 18 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
1,625,000 BD
1,800,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Bank of
PO Box : 597
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:
Peacock Carpet Centre
was established in 1996 and has gained a good reputation for the quality of its
products.
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 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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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%)