MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
BABASONS WLL |
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Registered Office : |
Building No. 123, Lulu Road, Muharraq, PO Box 23599, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
25.01.1995 |
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Com. Reg. No.: |
5686 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Operation of a Chain of 6 Supermarkets |
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 : |
EUR 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BABASONS WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 25th January 1995
Commercial Registration Number : 5686
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
Total Workforce : 320
Activities : Operation of a chain of 6 supermarkets
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : EUR 600,000
COMPANY NAME
BABASONS WLL
ADDRESS
Registered &
Physical Address
Building : Building No. 123
Street : Lulu Road
Area : Muharraq
PO Box : 23599
Town : Manama
Country : Bahrain
Telephone : (973-17) 341070
/ 259611 / 715301
Facsimile : (973-17)
258226 / 346010
Email : babasons@batelco.com.bh
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
· Exhibition Road Rented
supermarket premises
Hoora
KEY PRINCIPALS
Name Position
· Mohamed Hassan
Baluchi Managing
Director
· Hassan
Mohamed Hassan Al Baluchi Director
· Mahmoud
Mohamed Hassan Al Baluchi Director
· Limya
Mohamed Hassan Al Baluchi Director
· Raju
Kumar Wagnani General
Manager
· Anil
Kumar Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 25th January 1995
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 5686
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
Name of Shareholder (s)
· Mohamed Hassan
Baluchi
· Hassan
Mohamed Hassan Al Baluchi
· Mahmoud
Mohamed Hassan Al Baluchi
· Limya
Mohamed Hassan Al Baluchi
OPERATIONS
Activities: Engaged in the operation of a chain of 6 supermarkets, specialising in
the retail of general foodstuff,
novelties and readymade garments.
Import Countries: Europe and Asia
Operating Trend: Steady
Subject has a workforce of approximately 320 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:
Total Sales BD
5,200,000 BD
6,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures were confirmed by Anil
Kumar, Financial Controller.
BANKERS
·
Arab Bank Plc
Government
Avenue
PO
Box 395
Manama
Tel:
(973-17) 229988
Fax:
(973-17) 210443
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1993, Babasons WLL is engaged in the operation of a chain
of 6 mini supermarkets.
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 company is considered to be a fair trade risk and
the above credit figure is deemed admissible.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.37 |
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UK Pound |
1 |
Rs. 84.01 |
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Euro |
1 |
Rs. 65.96 |
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%)