MIRA
INFORM REPORT
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Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRAMCO WLL |
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Registered Office : |
Block 327, Building No. 256, Adliya Area, P O Box 20260, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
31st July 1977 |
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Com. Reg. No.: |
7820, Manama |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged as general
contractors, specializing in road and building construction, limestone
quarrying and crushing, specialized blasting and demolition, excavation, land
reclamation, slope protection and landscaping. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : BRAMCO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 31st July 1977
Commercial Registration Number : 7820, Manama
Membership Number : 2286
Issued Capital : BD 3,000,000
Paid up Capital : BD 3,000,000
Total Workforce : 1,200
Line of Business : General contractors.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BRAMCO WLL
ADDRESS
Registered & Physical Address
Location : Block 327,
Building No. 256, Adliya Area
PO Box : 20260
Town : Manama
Country : Bahrain
Telephone : (973-17) 270439
/ 717006
Facsimile : (973-17)
717009 / 732612
Email : bramco@gtc.net.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Manama.
KEY PRINCIPALS
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Vinay K Dewan Chairman
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Ashok Kumar Director
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Aluk Swrano Operations
Manager
LEGAL FORM & OWNERS
Date of Establishment : 31st
July 1977
Legal Form :
Sharikat Thet Massouliya Mahdoudeh
(With Limited Liability - WLL)
Commercial Reg. No. : 7820, Manama
Membership No. : 2286
Issued Capital : BD 3,000,000
Paid up Capital : BD 3,000,000
Name of Shareholder (s) Percentage
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Bramco Group 100%
Manama
LINE OF BUSINESS
Operations : Engaged as general contractors,
specialising in road and building construction, limestone quarrying and
crushing, specialised blasting and demolition, excavation, land reclamation,
slope protection and landscaping.
Operating Trend
: Steady
Subject has a
workforce of approximately 1,200 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
States Dollars (US$)
Year
Ending 31/12/05 : Year Ending
31/12/06 :
Total Sales US$
144,600,000 US$
150,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Banque Paribas
Government Avenue
PO Box : 5241
Manama
Tel : (973-17) 253119
Fax : (973-17) 242077
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1977, subject acts as general contractors, specialising in road and building construction,
limestone quarrying and crushing, specialised blasting and demolition,
excavation, land reclamation, slope protection and landscaping.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 750,000
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%)