%2003-Apr-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HOUSE OF UNIFORMS (HOU) |
|
|
|
|
Registered Office : |
Old Place Avenue, Road 339, Building 89, PO Box 10174, Manama 318 |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
1985 |
|
|
|
|
Com. Reg. No.: |
31403, Manama |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of School Uniforms
and Work Wear. |
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 : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : HOUSE OF UNIFORMS (HOU)
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Start Date : 1985
Registration Date : 28th February 1994
Commercial Registration Number : 31403, Manama
Chamber Membership Number : 4107
Invested Capital : BD 50,000
Total Workforce : 40
Activities : Manufacture of school uniforms and work wear.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
HOUSE OF UNIFORMS (HOU)
ADDRESS
Registered & Physical Address
Location : Old Place
Avenue, Road 339, Building 89
PO Box : 10174
Town : Manama 318
Country : Bahrain
Telephone : (973-17) 532311
/ 532148
Facsimile : (973-17)
530945
Mobile : (973-39)
464885
Email : uniforms@batelco.com.bh
Premises
Subject operates from a medium sized suite of offices and a workshop
that are rented and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
· Al Ali
Complex, Shop No. 1114 Rented
showroom premises
Manama
Tel:
(973-17) 581510
· Godiybia
Area Rented
showroom premises
Manama
KEY PRINCIPALS
Name Position
· Naty
C. Jawad Proprietor
& General Manager
· Yacoub
N. C. Jawad Assistant
General Manager
· N.
Mani Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s
operations date back to 1985, however it was registered on 28th
February 1994
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 31403, Manama
Chamber Member No. : 4107
Invested Capital : BD 50,000
Naty C. Jawad is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacture of school
uniforms and work wear.
Subject is currently the sole supplier of personalised Polo
and T-shirts to more than 45 schools.
Import Countries: India and China
Operating Trend: Steady
Subject has a workforce of 40 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Bahraini Dinar (BD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales BD
2,800,000 BD
3,050,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
BANKERS
·
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:
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.
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. |
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%)