MIRA
INFORM REPORT
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Report Date : |
03.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL JAZEERA INDUSTRIAL SERVICES |
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Registered Office : |
Complex
701, Building No. 937, Toubli
Service Road No. 126, PO Box
32646 & 828, Isa Town |
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Country : |
Bahrain |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
35271, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of instrumentation and oil and gas
applications, civil and water services, mechanical and marine products, fire
and safety equipment and automotive accessories and spare parts. |
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 : AL JAZEERA INDUSTRIAL SERVICES
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Start Date : 1996
Registration Date : 5th April 2003
Commercial Registration Number : 35271, Manama
Issued Capital : BD 180,000
Paid up Capital : BD 180,000
Total Workforce : 25
Activities : Import and distribution of instrumentation and oil and gas applications, civil and water services, mechanical and marine products, fire and safety equipment and automotive accessories and spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL JAZEERA
INDUSTRIAL SERVICES
ADDRESS
Registered & Physical Address
Building : Complex 701, Building
No. 937
Street : Toubli Service Road No. 126
PO Box : 32646 & 828
Town : Isa Town
Country : Bahrain
Telephone : (973-17) 785757 / 786905 / 786907 /
783178 / 785034
Facsimile : (973-17) 785034
Email : aljazeera@batelco.com.bh
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Suburban Business Area of Isa Town.
KEY PRINCIPALS
Name Position
·
Mahmoud
Saleh Adnan Al Moosawi Managing
Director
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Essa
Ibrahim Essa Al Derazi Director
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Nader
Ahmed Yousef Director
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Thana Haider
Hassan Director
·
Imran Khan Instrumentation
Manager
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Nader Ahmed Mechanical
Manager
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Arif Maqbool
Qureshi Civil
& Water Services Manager
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Purshotham
Ramaiah Fire
& Safety Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1996, however it was registered on 5th April
2003
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 35271, Manama
Issued Capital : BD 180,000
Paid up Capital : BD 180,000
Name of Shareholder (s) Percentage
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Bahrain
Maritime & Mercantile International BSC (C) 33.3%
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Mahmoud
Saleh Adnan Al Moosawi ]
]
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Essa
Ibrahim Essa Al Derazi ]
] 66.7%
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Nader
Ahmed Yousef ]
]
·
Thana Haider
Hassan ]
OPERATIONS
Activities: Engaged in the import and distribution of instrumentation
and oil and gas applications, civil and water
services, mechanical and marine products, fire and safety equipment and
automotive accessories and spare parts.
Import
Countries: United States of
America, Germany, United Kingdom and Japan.
Agencies Held:
·
Signode United States of America
·
Brickhouse United Kingdom
Subject has a
workforce of 25 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
·
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
company 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%)