MIRA INFORM REPORT

 

 

Report Date :

20.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

BADER TRADER BAHRAIN

 

 

Registered Office :

Building No. 91, Road No. 342, Complex 308, PO Box 292, Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

15.01.1986

 

 

Com. Reg. No.:

357-3, Manama

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Import and Distribution of Electrical Products and Electrical Accessories as well as Providing General Electrical Contracting Services.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

SUMMARY

 

Company Name                         : BADER TRADER BAHRAIN

Country of Origin                                    : Bahrain

Legal Form                                            : General Partnership

Registration Date                                   : 15th January 1986

Commercial Registration Number            : 357-3, Manama

Partners Capital                                     : BD 35,500

Total Workforce                                     : 7

Activities                                               : Import and distribution of electrical products and electrical accessories as well as providing general electrical contracting services.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

ARIC Credit Rating                                 : B

Recommended Credit Limit                     : US$ 150,000

 

 

 

 

 

COMPANY NAME

 

BADER TRADER BAHRAIN

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Building No. 91, Road No. 342, Complex 308

PO Box             : 292

Town                 : Manama

Country             : Bahrain

Telephone         : (973-17) 245159

Facsimile          : (973-17) 254479

Email                : bader8@batelco.com.bh

 

 

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

 

·       Haider Jaffar Abdo Ali Bader                                                               Managing Partner

 

·       Khalil Jaffar Abdo Ali Bader                                                                Partner

 

·       Sadiq Jaffar Abdo Ali Bader                                                                Partner

 

·       Ms Zahra Jaffar Abdo Ali Bader                                                           Partner

 

·       Ms Afifah Jaffar Abdo Ali Bader                                                           Partner

 

·       Ms Lila Jaffar Abdo Ali Bader                                                              Partner

 

·       Shangara Palli                                                                                  Sales Manager

 

 

 

 

 

 

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th January 1986

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 357-3, Manama

 

Partners Capital           : BD 35,500

 

Name of Partner (s)

 

·       Haider Jaffar Abdo Ali Bader

 

·       Khalil Jaffar Abdo Ali Bader

 

·       Sadiq Jaffar Abdo Ali Bader

 

·       Ms Zahra Jaffar Abdo Ali Bader

 

·       Ms Afifah Jaffar Abdo Ali Bader

 

·       Ms Lila Jaffar Abdo Ali Bader 

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of electrical products and electrical accessories as well as providing general electrical contracting services.

 

Import Countries: Japan, India and China.

 

Subject has a workforce of 7 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

 

·       Habib Bank

Government Avenue

PO Box : 566

Manama

Tel : (973-17) 254889 / 273285

Fax : (973-17) 276685

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000:

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions