MIRA
INFORM REPORT
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Report Date : |
7th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
AL TAHANI HANDMADE CARPET EST |
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Registered Office : |
Shop No. 45, Road
No. 306, Adliya, PO Box: 15087, Manama, Bahrain. |
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Country : |
Bahrain |
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Date of Incorporation : |
09.12.1996 |
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Com. Reg. No.: |
36643, Manama |
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Legal Form : |
Mouassasa Khassa
(Sole Proprietorship) |
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Line of Business : |
Engaged in the import
and distribution of handmade carpets and rugs. |
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 : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL TAHANI HANDMADE CARPET EST |
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Country of Origin |
Bahrain |
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Legal Form |
Sole Proprietorship |
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Registration Date |
9th December 1996 |
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Commercial
Registration Number |
36643, Manama |
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Membership Number |
7220 |
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Invested Capital |
BD 60,000 |
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Total Workforce |
8 |
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Line of Business |
Distributors of handmade carpets and rugs. |
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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 TAHANI HANDMADE
CARPET EST
ADDRESS
Registered & Physical Address
Location : Shop No. 45, Road No. 306, Adliya
PO Box : 15087
Town : Manama
Country : Bahrain
Telephone : (973-17) 710692
Facsimile : (973-17) 710692
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
KEY PRINCIPALS
·
Hamoud Ali
Mohamed Hassan Proprietor
& General Manager
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Mohamed Hamoud
Ali Mohamed Hassan Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 9th
December 1996
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 36643, Manama
Membership No. : 7220
Invested Capital
: BD 60,000
Mr Hamoud Ali
Mohamed 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 import and distribution of
handmade carpets and rugs.
Import Countries
: Iran, India, Pakistan and
Turkey.
Operating Trend
: Steady
Subject has a
workforce of 8 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 890,000 BD
1,025,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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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
1996, subject is owned and managed by Mr Hamoud Ali Mohamed Hassan who is well
respected in the local business community.
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
deemed to be 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%)