MIRA INFORM REPORT

Report Date :

1^st March, 2007

IDENTIFICATION DETAILS

Name :	AL ALAWI TRANSPORT EST
Registered Office :	Building No. 1821, Block No. 211, Road No. 1131, PO Box: 22234, Muharraq, Bahrain.
Country :	Bahrain
Date of Incorporation :	21.09.1980
Com. Reg. No.:	6627
Legal Form :	Mouassasa Khassa (Sole Proprietorship)
Line of Business :	Engaged as providers of passenger transport services, subject operates a fleet that consists of 200 buses.

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$ 200,000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear

SUMMARY

Company Name	AL ALAWI TRANSPORT EST
Country of Origin	Bahrain
Legal Form	Sole Proprietorship
Registration Date	21^st September 1980
Commercial Registration Number	6627
Membership Number	2937
Invested Capital	BD 150,000
Total Workforce	75
Line of Business	Providers of passenger transport services.
Financial Condition	Undetermined
Payments	Nothing detrimental uncovered

COMPANY NAME

AL ALAWI TRANSPORT EST

ADDRESS

Registered & Physical Address

Building : Building No. 1821, Block No. 211

Street : Road No. 1131

PO Box : 22234

Town : Muharraq

Country : Bahrain

Telephone : (973-17) 343805

Facsimile : (973-17) 343823

Premises

Subject operates from a small suite of offices that are owned and located in the Central Business Area of Muharraq.

Branch Offices

· Al Hamalaa Area Office premises

Tel : (973-17) 601444

Fax : (973-17) 601446

KEY PRINCIPALS

· Mohamed Abdul Qader Mahmoud Al Alawi Proprietor & General Manager

· Yonas Abdullah Assistant General Manager

LEGAL FORM & OWNERS

Date of Establishment : 21^st September 1980

Legal Form : Mouassasa Khassa (Sole Proprietorship)

Commercial Reg. No. : 6627

Membership No. : 2937

Invested Capital : BD 150,000

Mr Mohamed Abdul Qader Mahmoud Al Alawi 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 providers of passenger transport services, subject operates a fleet that consists of 200 buses.

Subject also distributes automotive spare parts.

Import Countries : Europe and India

International Suppliers :

· TATA India

Subject has a workforce of 75 employees.

FINANCIAL HIGHLIGHTS

Companies registered in Bahrain are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· Bank of Bahrain & Kuwait

PO Box : 597

Muharraq

Tel : (973-17) 331830 / 324191

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Opinion on the credit figure of US$ 150,000:

Established in 1980, subject is owned and managed by Mr Mohamed Abdul Qader Mahmoud Al Alawi 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

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