MIRA
INFORM REPORT
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Report Date : |
22.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
BETA ISLAND |
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Registered Office : |
Complex 304, Building No. 684, Road No. 433, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
14th October 2001 |
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Com. Reg. No.: |
44361-2, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of building materials. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BETA ISLAND
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 14th October 2001
Commercial Registration Number : 44361-2, Manama
Membership Number : 15786
Invested Capital : BD 30,000
Total Workforce : 4
Line of Business : Import and distribution of building materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BETA ISLAND
ADDRESS
Registered & Physical Address
Location : Complex 304, Building No. 684, Road No. 433
Town : Manama
Country : Bahrain
Telephone : (973-17) 213350
Facsimile : (973-17) 213350
Mobile :
(973-39) 819189
Premises
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Manama.
KEY PRINCIPALS
· Fatima
Yacoub Mohamed Lorri Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 14th
October 2001
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 44361-2, Manama
Membership No. : 15786
Invested Capital : BD 30,000
Fatima Yacoub Mohamed Lorri 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 building materials.
Import Countries : Saudi Arabia and
India
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Bahrain are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
·
Habib Bank
Government Avenue
PO Box : 566
Manama
Tel : (973-17)
254889 / 273285
Fax : (973-17)
276685
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.
Maximum suggested credit figure: US$ 100,000
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. |
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%)