MIRA INFORM REPORT

 

 

Report Date :

04.07.2007

 

IDENTIFICATION DETAILS

 

Name :

BAHRAIN WATER BOTTLING & BEVERAGES CO BSC (C)

 

 

Registered Office :

Road No. 30, Atraz Highway, P O Box 50495, Hidd

 

 

Country :

Bahrain

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

23rd January 1995

 

 

Com. Reg. No.:

33396

 

 

Legal Form :

Bahraini Shareholding Company Closed BSC (C)

 

 

Line of Business :

Engaged in the bottling and distribution of mineral water.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 600,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : BAHRAIN WATER BOTTLING & BEVERAGES CO BSC (C)

Country of Origin                                    : Bahrain

Legal Form                                            : Bahraini Shareholding Company Closed BSC (C)

Registration Date                                   : 23rd January 1995

Commercial Registration Number            : 33396

Issued Capital                                        : BD 2,500,000

Paid up Capital                                      : BD 2,500,000

Total Workforce                                     : 150

Line of Business                                    : Bottlers and distributors of mineral water.

Financial Condition                                 : Fair

Payments                                             : No Complaints

Operating Trend                         : Steady

 

 

 

COMPANY NAME

 

BAHRAIN WATER BOTTLING & BEVERAGES CO BSC (C)

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Road No. 30, Atraz Highway

PO Box             : 50495

Town                 : Hidd

Country             : Bahrain

Telephone         : (973-17) 336700

Facsimile          : (973-17) 336988

Email                : bwbb@batelco.com.bh

                         

 

Premises

 

Subject operates from a large suite of offices and a factory that are owned and located in the Central Business Area of Hidd.

 

 

KEY PRINCIPALS

 

·         Ibrahim Zinal                                                            Chairman

 

·         Fouad Ibrahim Kanoo                                               Managing Director

 

·         Kalishen Azhuvath                                                   General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 23rd January 1995

 

Legal Form                  : Bahraini Shareholding Company Closed BSC (C)

 

Commercial Reg. No.  : 33396

 

Issued Capital              : BD 2,500,000

 

Paid up Capital            : BD 2,500,000

 

 

Name of Shareholder (s)

 

·       General Trading & Food Processing Co

 

·       Abdullah Yousef Fakhroo & Sons

 

·       Ali Bin Yousef  Fakhroo & Sons

 

·       Ali & Mahmoud Hussain Co

 

·       Yousef Khalil Al Moayad & Sons

 

·       Mohamed Ali Zinal Abdullah Co

 

·       Family Investment Co

 

·       Unitrust Co

 

·       Atlas Hotel

    

Note to the legal form

 

Under Bahraini Law, a Bahraini Shareholding Company Closed BSC (C) is required to have a minimum capital figure of BD 200,000.

 

 

LINE OF BUSINESS

 

Operations : Engaged in the bottling and distribution of mineral water.

 

Import Countries : Europe and the Far East.

 

Brand Names : TYLOS

 

Operating Trend : Steady

 

Subject has a workforce of 150 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 5,850,000                            BD 6,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

 

BANKERS

 

·       Ahli United 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 1995, subject is involved in the bottling and distribution of mineral water.

 

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$ 600,000

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions