MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA ELECTRICAL ITEMS WLL |
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Registered Office : |
Building No. 1472, Road No. 623, Complex No. 306, PO
Box 11249, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
04.06. 2007 |
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Com. Reg. No.: |
65435 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesaler and Retailer of Electrical
Items, Cables, and Switches. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DELTA ELECTRICAL ITEMS WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 4th June 2007
Commercial Registration Number : 65435
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 10
Activities : Wholesale and retail of electrical items, cables, and switches.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
DELTA ELECTRICAL
ITEMS WLL
ADDRESS
Registered & Physical Address
Location : Building No.
1472, Road No. 623, Complex No. 306
PO Box : 11249
Town : Manama
Country : Bahrain
Telephone : (973-17) 280009
Facsimile : (973-17) 280449
Mobile : (973-39) 401472
Email : sales@deltaelectrical.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 Nationality Position
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Iman
Abdullah Haji Ibrahim Abdullah Bahraini Managing
Director
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Paradeep
Kumar Indian Director
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Paradap
Kumar Indian Director
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V.
K. Ramesh - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 4th
June 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 65435
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder (s)
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Iman
Abdullah Haji Ibrahim Abdullah
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Paradeep
Kumar
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Paradap
Kumar
OPERATIONS
Activities: Engaged in the wholesale and retail of electrical items, cables, and switches.
Import
Countries: China, United
Kingdom, Japan and the United States of America.
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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HSBC Bank
Middle East
93 Al Khalifa Avenue
PO Box : 57
Manama 304
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.
GENERAL COMMENTS
Subject informed us
that since commencing business in June 2007 sales have so far reached BD 1,570,000.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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%)