MIRA
INFORM REPORT
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Report Date : |
01.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL TA'ADUL TRADING CO WLL |
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Registered Office : |
Building
No. 1231, Road No. 421, Complex 704, Salmabad Area, PO Box 32325, Isa Town |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
14.07.1986 |
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Com. Reg. No.: |
17476 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesale and Retail of
Confectionery, Sweets, Snacks and Rice, as well as Household Products
including Detergents and Cleaning 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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL TA'ADUL TRADING CO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 14th July 1986
Commercial Registration Number : 17476
Chamber Membership Number : 1912
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 35
Activities :
Wholesale and retail of confectionery, sweets, snacks
and rice, as well as household products including detergents and cleaning
materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL TA'ADUL TRADING
CO WLL
ADDRESS
Registered & Physical Address
Location : Building
No. 1231, Road No. 421, Complex 704, Salmabad Area
PO Box : 32325
Town : Isa Town
Country : Bahrain
Telephone : (973-17) 785646
Facsimile : (973-17) 784896 / 785043
Email : atco@batelco.com.bh
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Isa Town.
Branch Office (s)
Location Description
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Isa Town Rented
showroom premises
Tel: (973-17) 681711
Fax: (973-17) 681712
KEY PRINCIPALS
Name Position
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Mohamed
Abdulrahim Ahmed Akbar Managing
Director
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Abdul
Reda Mohamed Abdulrahim Ahmed Akbar Director
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Abdul
Hamid Mohamed Abdulrahim Ahmed Akbar Director
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Hussain
Mohamed Abdulrahim Ahmed Akbar Director
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Jassim
Mohamed Abdulrahim Ahmed Akbar Director
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Hajer
Mohamed Abdulrahim Ahmed Akbar Director
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Hana
Mohamed Abdulrahim Ahmed Akbar Director
LEGAL FORM & OWNERS
Date of Establishment : 14th
July 1986
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 17476
Chamber Member No. : 1912
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder (s)
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Mohamed
Abdulrahim Ahmed Akbar
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Abdul
Reda Mohamed Abdulrahim Ahmed Akbar
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Abdul
Hamid Mohamed Abdulrahim Ahmed Akbar
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Hussain
Mohamed Abdulrahim Ahmed Akbar
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Jassim
Mohamed Abdulrahim Ahmed Akbar
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Hajer
Mohamed Abdulrahim Ahmed Akbar
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Hana
Mohamed Abdulrahim Ahmed Akbar
OPERATIONS
Activities: Engaged in the
wholesale and retail of confectionery, sweets, snacks and rice, as well as
household
products
including detergents and cleaning materials.
Import
Countries: India and Saudi
Arabia
Operating Trend: Steady
Subject has a workforce
of 35 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 2,490,000 BD 2,750,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mohamed Abdulrahim Ahmed
Akbar, Managing Director.
BANKERS
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National Bank
of Bahrain BSC
PO Box 106
Isa Town
Tel : (973-17) 686022
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is within subject’s
financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.27 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.24 |
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%)