MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABDUL RAHIM ABDULLAH ABDUL QADER |
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Registered Office : |
Road No. 53, Area No. 213, PO Box
1260, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
08.02.1982 |
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Com. Reg. No.: |
12101,
Manama |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesale and
Retail of Textiles and Fabrics. |
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 225,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDUL RAHIM ABDULLAH ABDUL QADER
Country of Origin : Bahrain
Legal Form :
Sole Proprietorship
Registration Date : 8th
February 1982
Commercial
Registration Number : 12101, Manama
Chamber Membership
Number : 930
Invested Capital : BD 50,000
Total Workforce : 5
Activities :
Wholesale and retail of textiles and fabrics.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US 225,000
COMPANY NAME
ABDUL RAHIM ABDULLAH ABDUL QADER
ADDRESS
Registered & Physical Address
Location : Road No. 53, Area No. 213
PO Box : 1260
Town : Manama
Country : Bahrain
Telephone : (973-17) 277896
Facsimile : (973-17) 277677
Mobile : (973)
Email : hassanqader@yahoo.com
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
Name Position
· Abdul
Rahim Abdullah Abdul Qader Proprietor
· Hassan
Abdul Rahim Abdullah Abdul Qader General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 8th
February 1982
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 12101, Manama
Chamber Member No. : 930
Invested Capital : BD 50,000
Mr Abdul Rahim Abdullah Abdul Qader is
the sole proprietor of the business.
AFFILIATED COMPANIES
· Hawazin
Store
Road No. 53, Area 213, Building No. 111
PO
Box 1260
Manama
Tel:
(973-17) 343941
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles and fabrics.
Import Countries: India, Pakistan and Thailand.
Operating Trend: Steady
Subject has a workforce of 5 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
2,150,000 BD
2,275,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Ahli United Bank BSC
Building 2495, Road 2832
Al
Seef District 428
PO
Box 2424
Manama
Tel:
(973-17) 585858
Fax:
(973-17) 580569
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Abdul Rahim Abdullah Abdul Qader has
been in business since 1982 specialising in the wholesale and retail of textiles
and fabrics.
During the course of this investigation nothing detrimental was
uncovered regarding the manner in which payment obligations are fulfilled. The
operating history is clear and the financial situation is satisfactory. As such
we are of the opinion that the subject is a fair trade risk and the above
credit figure is within subject’s financial means.
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. |
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%)