MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABDULLAH YOUSUF HASHIM MAKLAI EST |
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Registered Office : |
Maklai Building,
Al Khalifa Road, PO Box 73, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
57058/1 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Building Materials, Pipes and Pipe
Fittings |
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 : ABDULLAH YOUSUF HASHIM MAKLAI EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 1980
Commercial Registration Number : 57058/1
Invested Capital : BD 50,000
Total Workforce : 25
Activities : Import and distribution of building materials, pipes and pipe fittings
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ABDULLAH YOUSUF
HASHIM MAKLAI EST
ADDRESS
Registered & Physical Address
Building : Maklai Building
Street : Al Khalifa Road
PO Box : 73
Town : Manama
Country : Bahrain
Telephone : (973-17) 223569
Facsimile : (973-17) 223932
Email : abudi96@yahoo.com
Premises
Subject operates from
a medium sized suite of offices, a warehouse and a showroom that are owned and
located in the Suburban Business Area of Manama.
KEY PRINCIPALS
Name Position
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Abdullah Yusuf
Maklai Proprietor
& General Manager
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Raja
Kumar Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1980
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 57058/1
Invested Capital
: BD 50,000
Mr Abdullah Yusuf
Maklai is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
building materials, pipes and pipe fittings.
Import
Countries: United Kingdom,
United States of America, India and China.
Operating Trend: Steady
Subject has a
workforce of 25 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 3,100,000 BD 3,210,000
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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Bank of
Bahrain & Kuwait
43 Government Avenue
PO Box : 597
Manama
Tel : (973-17) 253388
Fax : (973-17) 275785
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%)