MIRA
INFORM REPORT
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Report Date : |
13.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL FAYASIL BUILDING MATERIAL WLL |
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Registered Office : |
Hamd
Town, 23610, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
11.12. 2007 |
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Com. Reg. No.: |
67267, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of Building Materials, Hardware, Tools and Paints |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL FAYASIL BUILDING MATERIAL WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 11th December 2007
Commercial Registration Number : 67267, Manama
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Total Workforce : 7
Activities : Import and distribution of building materials, hardware, tools and paints.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL FAYASIL BUILDING
MATERIAL WLL
ADDRESS
Registered & Physical Address
Location : Hamd
Town
PO Box : 23610
Town : Manama
Country : Bahrain
Telephone : (973-17) 611085
Facsimile : (973-17) 611085
Mobile : (973-39) 215799
Email : alfayasil@yahoo.com
Premises
Subject operates
from a small suite of offices, a warehouse and a showroom that are rented and
located in the Suburban Business Area of Manama.
KEY PRINCIPALS
Name Nationality Position
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Murli
Madathil
Indian Managing
Director
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Abdullah
Al Muraihi Bahraini Director
LEGAL FORM & OWNERS
Date of Establishment : 11th
December 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 67267, Manama
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Name of Shareholder (s)
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Murli
Madathil
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Abdullah
Al Muraihi
OPERATIONS
Activities: Engaged in the import and distribution of
building materials, hardware, tools and paints.
Import
Countries: China and India
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
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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
company is considered to be a fair trade risk and the above credit figure is
deemed admissible.
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%)