MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ETISALCOM BAHRAIN WLL |
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Registered Office : |
Flat No. 81, Building 371, Road 1912, Al Hoora, PO Box 11100, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
16.03.2000 |
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Com. Reg. No.: |
56052, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Provision of Fully Integrated Information Communications Technology Solutions |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ETISALCOM BAHRAIN WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 16th March 2000
Commercial Registration Number : 56052, Manama
Issued Capital : BD 2,000,000
Paid up Capital : BD 2,000,000
Total Workforce : 100
Activities : Provision of fully integrated information communications technology
solutions
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
ETISALCOM BAHRAIN
WLL
ADDRESS
Registered &
Physical Address
Location : Flat No. 81, Building 371, Road
1912, Al Hoora
PO Box : 11100
Town : Manama
Country : Bahrain
Telephone : (973-17) 3011100
Facsimile : (973-17) 3011101
Email : info@etisalcom.com
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Manama.
KEY PRINCIPALS
Name Position
·
Mohamed
Abdullah Turki Al Mahmoud Managing
Director
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Jassim
Mohamed Saif Jamshir Director
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Hassan
Ali Abdullah Al Nasf Director
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Abdulrahman
Mohamed Saif Jamshir Director
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Rashid
Abdullah Abdulrahim Al Sabt Director
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Nour
Eddine Abdullah Nour Eddine Director
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Majdi
Habib Hana Director
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Mohamed
Mohamed Bastagi Director
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Abdullah
Abdulrahman Al Dossary Director
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Raed
Mahmoud Al Raed Director
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Mohamed
Abdullah Nour Eddine Director
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Walid
Mohamed Shareed Al Rais Director
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Nahid
Isaaq Abdulrahman Isaaq Director
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Essam
Abdullah Nour Eddine Director
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Hamd
Mohamed Ali Fakhroo Director
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Nabil
Nour Eddine Abdullah Nour Eddine Director
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Adel
Mohamed Abdo Ali Darwish Director
LEGAL FORM & OWNERS
Date of Establishment : 16th
March 2000
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 56052, Manama
Issued Capital : BD 2,000,000
Paid up Capital : BD 2,000,000
Name of Shareholder (s)
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Mohamed
Abdullah Turki Al Mahmoud
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Jassim
Mohamed Saif Jamshir
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Hassan
Ali Abdullah Al Nasf
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Abdulrahman
Mohamed Saif Jamshir
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Rashid
Abdullah Abdulrahim Al Sabt
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Nour
Eddine Abdullah Nour Eddine
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Majdi
Habib Hana
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Mohamed
Mohamed Bastagi
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Abdullah
Abdulrahman Al Dossary
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Raed
Mahmoud Al Raed
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Mohamed
Abdullah Nour Eddine
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Walid
Mohamed Shareed Al Rais
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Nahid
Isaaq Abdulrahman Isaaq
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Essam
Abdullah Nour Eddine
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Hamd
Mohamed Ali Fakhroo
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Nabil
Nour Eddine Abdullah Nour Eddine
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Adel
Mohamed Abdo Ali Darwish
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Janahi
Brothers WLL
OPERATIONS
Activities: Engaged in the provision of fully integrated
information communications technology solutions.
Subject has a
workforce of approximately 100 employees.
FINANCIAL DATA
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
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HSBC Bank
Middle East
93 Al Khalifa Avenue
PO Box : 57
Manama 304
Tel : (973-17) 224555 / 222158
Fax : (973-17) 226822
Email : bbmemnm@batelco.com.bh
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
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. 41.96 |
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UK Pound |
1 |
Rs.83.78 |
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Euro |
1 |
Rs.65.82 |
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%)