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MIRA INFORM
REPORT
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Report Date : |
13.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GULF MEMBRANE & COATING INDUSTRIES WLL (GMCI) |
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Registered Office : |
Yard A86,
Esteglal Highway, Road 3901, East Riffa 939, PO Box 10266, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
26.06. 1994 |
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Com. Reg. No.: |
30812 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacture
of Waterproofing Membrane and Construction Chemicals |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GULF MEMBRANE & COATING INDUSTRIES WLL (GMCI)
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 26th June 1994
Commercial Registration Number : 30812
Chamber Membership Number : 5679
Issued Capital : BD 294,450
Paid up Capital : BD 294,450
Total Workforce : 75
Activities : Manufacture of waterproofing membrane and construction chemicals
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
GULF MEMBRANE &
COATING INDUSTRIES WLL (GMCI)
ADDRESS
Registered & Physical Address
Location : Yard A86, Esteglal Highway, Road
3901, East Riffa 939
PO Box : 10266
Town : Manama
Country : Bahrain
Telephone : (973-17) 770019 / 830233
Facsimile : (973-17) 774450 / 830277
Email : sales@gmcibahrain.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Industrial Area of Manama.
KEY PRINCIPALS
Name Position
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Fareed
Ghulam Abbass Bader Managing
Director
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Johnny
Kuwaitra General
Manager
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Mejoy
Joseph Administrative
Officer
LEGAL FORM & OWNERS
Date of Establishment : 26th
June 1994
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 30812
Chamber Member No. : 5679
Issued Capital : BD 294,450
Paid up Capital : BD 294,450
Name of Shareholder (s) Percentage
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Fareed
Ghulam Abbass Bader 90%
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Bahrain
Development Bank 10%
PO Box 20501
Manama
Tel: (973-17) 511111
Fax: (973-17) 534005
OPERATIONS
Activities: Engaged in the manufacture of
waterproofing membrane and construction chemicals.
In December 2006, GMCI obtains ISO 9001:2000 certification
from TUV
Import Countries: United Kingdom and the United States of
America
Subject has a
workforce of 75 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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Bahrain
Development Bank
PO Box 20501
Manama
Tel: (973-17) 511111
Fax: (973-17) 534005
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.
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%)