MIRA
INFORM REPORT
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Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
HORSE PRIDE EQUESTRIAN EQUIPMENT |
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Registered Office : |
Building 1506,
Road 85, Block 52, Budaya Highway, PO Box
38765, Riffa |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
12.01.2005 |
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Com. Reg. No.: |
55519 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Traders of Equestrian Equipment and Supplies. |
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 : HORSE PRIDE EQUESTRIAN EQUIPMENT
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 12th January 2005
Commercial Registration Number : 55519
Chamber Membership Number : 13711
Invested Capital : BD 50,000
Total Workforce : 6
Activities : Traders of equestrian equipment and supplies.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
HORSE PRIDE
EQUESTRIAN EQUIPMENT
ADDRESS
Registered & Physical Address
Location : Building 1506, Road 85, Block 52
Street : Budaya Highway
PO Box : 38765
Town : Riffa
Country : Bahrain
Telephone : (973-17) 592564
Facsimile : (973-17) 592565
Mobile : (973-36) 333309
Email : horsepride@gmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Riffa.
KEY PRINCIPALS
Name Position
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Mrs
Amira Hassan Ali Zaman Proprietor
& General Manager
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Ms Huda Janahi Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 12th
January 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 55519
Chamber Member No. : 13711
Invested Capital
: BD 50,000
Mrs
Amira Hassan Ali Zaman is the
sole proprietor of the business.
OPERATIONS
Activities: Engaged as traders of equestrian equipment
and supplies.
Import
Countries: United Kingdom
and the United States of America.
Operating Trend: Steady
Subject has a
workforce of 6 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 675,000 BD 800,000
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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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
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%)