MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
GULF POWER BEAT WLL |
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Registered Office : |
Building 1369, Road 5138, Block
No. 951, South Alba
Industrial Area, PO Box 10253, Askar |
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Country : |
Bahrain |
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Date of Incorporation : |
29.05.1995 |
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Com. Reg. No.: |
33971 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacturer of automotive and telecom batteries |
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 : GULF POWER BEAT WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Start Date : 29th May 1995
Commercial Registration Number : 33971
Issued Capital : BD 2,400,000
Paid up Capital : BD 2,400,000
Total Workforce : 29
Activities : Manufacture of automotive and telecom batteries
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
GULF POWER BEAT WLL
ADDRESS
Registered &
Physical Address
Location : Building 1369, Road 5138, Block No. 951
Area : South
Alba Industrial Area
PO Box : 10253
Town : Askar
Country : Bahrain
Telephone : (973-17) 830832
Facsimile : (973-17) 830831
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Askar.
KEY PRINCIPALS
Name Position
·
Khalid
Mohamed Mahdi Al Tejer Managing
Director
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Haythem
Khalid Mohamed Mahdi Al Tejer Director
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Avinaz
Kumar General
Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 29th May 1995, however it was re-registered
in 2007.
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 33971
Issued Capital : BD 2,400,000
Paid up Capital : BD 2,400,000
Name of Shareholder
(s)
·
Time
Technoplast Ltd
India
·
Khalid
Mohamed Mahdi Al Tejer
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Haythem
Khalid Mohamed Mahdi Al Tejer
OPERATIONS
Activities: Engaged in the manufacture of automotive
batteries.
Subject has installed capacity for telecom / automotive batteries of up to 150 mn AM with surplus capacity to produce vital battery components (grids and Lead plates) of additional 250 mn AH.
Import
Countries: India and China
Subject has a
workforce of 29 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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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
Gulf Power Beat WLL
was established in 1995 and specialises in the manufacture of automotive and
telecom batteries.
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
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)