MIRA
INFORM REPORT
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Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
HORTI GROUP SPS |
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Registered Office : |
Flat 22, Building
602, Road 2018, Block 320, PO Box
33326, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.05. 2004 |
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Com. Reg. No.: |
53518 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Provision of Landscaping and Horticultural
Services. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : HORTI GROUP SPS
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 1st May 2004
Commercial Registration Number : 53518
Chamber Membership Number : 15614
Invested Capital : BD 50,000
Total Workforce : 20
Activities : Provision of landscaping and horticultural services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
HORTI GROUP SPS
ADDRESS
Registered & Physical Address
Location : Flat 22, Building 602, Road 2018,
Block 320
PO Box : 33326
Town : Manama
Country : Bahrain
Telephone : (973-17) 744888 / 311800
Facsimile : (973-17) 744811 / 311554
Mobile : (973-36) 383555
Premises
Subject operates from
a small suite of offices that are rented and located in the Suburban Business
Area of Manama.
KEY PRINCIPALS
Name Position
·
Aref
Ahmed Ali Hajras Proprietor
& General Manager
·
Norman
Millar Assistant
General Manager
·
Mohamed
Ismail Hussain Commercial
Manager
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Shaju
Joseph Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
May 2004
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 53518
Chamber Member No. : 15614
Invested Capital
: BD 50,000
Mr Aref Ahmed Ali Hajras is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the provision of landscaping and horticultural services.
Import
Countries: India, United
Kingdom and the United States of America
Operating Trend: Steady
Subject has a
workforce of 20 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 1,350,000 BD 1,580,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Al Ahli
Commercial Bank
Government Avenue
PO Box : 5941
Manama
Tel : (973-17) 244333
Fax : (973-17) 241301
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
business is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
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%)