MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AMBATTUR CLOTHING
INTERNATIONAL WLL |
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Registered Office : |
Road 3426, Block
634, Building No. 700, Shop No. 2, M A Ameer Industrial Area, |
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Country : |
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Date of Incorporation : |
24th January 2000 |
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Com. Reg. No.: |
44502 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the manufacture
of clothing items for ladies, gents and children. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AMBATTUR CLOTHING INTERNATIONAL WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 24th January 2000
Commercial Registration Number : 44502
Membership Number : 8635
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Total Workforce : 120
Line of Business : Manufacture of clothing items for ladies, gents and children.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AMBATTUR CLOTHING
INTERNATIONAL WLL
ADDRESS
Registered & Physical Address
Location : Road 3426, Block 634, Building No.
700, Shop No. 2
Area : M A Ameer Industrial Area
PO Box : 32886
Town :
Country :
Telephone : (973-17) 703171 / 703161
Facsimile : (973-17) 703181
Email : abeali@bahrain.ambattur.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Manama.
KEY PRINCIPALS
Name Nationality Position
·
Vijay
Maheaney Indian Managing
Director
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Rajan
Biravani Indian Director
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Sri
Navisan Kumar Ram - Commercial
Manager
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Keerthi
Raj - Finance
Manager
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Ali Abd
Ali Abdullah - Personnel
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 24th
January 2000
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 44502
Membership No. : 8635
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Name of Shareholder
(s)
·
Vijay
Maheaney
·
Rajan
Biravani
Notes to the legal Form
Limited Liability Companies, which are known in
Under the Bahraini Commercial Companies Law a WLL may be formed by a minimum of 2 and a maximum of 50 natural or legal persons, whose liability is limited to their shares in the company’s capital. The minimum amount of paid-up capital required is BD 10,000. Contributions to capital may be made in cash of kind. With a normal renewable term of 25 years, equal shares must amount to at least BD 50 each. Public shares are not permitted nor is the negotiation of warrants. WLLs cannot conduct saving, banking or investment operations on behalf of others.
LINE OF BUSINESS
Operations : Engaged in the manufacture of clothing
items for ladies, gents and children.
Import Countries
:
Subject has a
workforce of approximately 120 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
·
Habib
Bank
Government Avenue
PO Box : 566
Tel : (973) 254889 / 273285
Fax : (973) 276685
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Al Ahli
Commercial Bank
Government Avenue
PO Box : 5941
Tel : (973) 244333
Fax : (973) 241301
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HSBC
Bank
PO Box : 57
Tel : (973-17) 224555 / 222158
Fax : (973-17) 226822
Email : bbmemnm@batelco.com.bh
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction December 2004
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Ambattur Clothing
International WLL was established in January 2000 and is engaged in the
manufacture of clothing items for ladies, gents and children.
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
company is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
Maximum suggested
credit figure: US$ 250,000
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%)