MIRA
INFORM REPORT
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Report Date : |
22.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GULF BUILDING MATERIALS SUPPLIES CO WLL |
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Registered Office : |
Complex 902, Building No. 265, Road No. 213, 28465, West Riffa |
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Country : |
Bahrain |
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Date of Incorporation : |
20th May 2007 |
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Com. Reg. No.: |
65245, Manama |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Import and distribution of building materials. |
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$ 20,000 |
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Status : |
New & Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
GULF BUILDING MATERIALS SUPPLIES CO WLL
Country of Origin :
Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date :
20th May 2007
Commercial Registration Number :
65245, Manama
Issued Capital :
BD 20,000
Paid up Capital :
BD 20,000
Total Workforce :
4
Line of Business :
Import and distribution of building materials.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
GULF BUILDING MATERIALS SUPPLIES CO WLL
ADDRESS
Registered & Physical Address
Location : Complex 902, Building No. 265, Road No. 213
PO Box : 28465
Town : West Riffa
Country : Bahrain
Telephone : (973-39) 606277
Facsimile : (973-39) 606277
Premises
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of West Riffa.
KEY PRINCIPALS
Name Nationality Position
· Salem
Abdulaziz Abdulrahman Araik Bahraini Managing Director
· Bashkran
Rajandra Indian Director
LEGAL FORM & OWNERS
Date of
Establishment : 20th
May 2007
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg.
No. : 65245, Manama
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder
(s)
· Salem
Abdulaziz Abdulrahman Araik
· Bashkran
Rajandra
LINE OF BUSINESS
Operations : Engaged in the
import and distribution of building materials.
Import Countries : India and China.
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
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:
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.
Maximum suggested credit figure: US$ 20,000
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%)