MIRA
INFORM REPORT
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Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
BOX MAKER WLL |
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Registered Office : |
Salmabad Industrial Area, Building 1399, Road 426,
Block 704, PO Box 489 & 2600,
Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
21.03. 2001 |
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Com. Reg. No.: |
46720, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Production of Corrugated Boxes and Cartons |
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 : BOX MAKER WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 21st March 2001
Commercial Registration Number : 46720, Manama
Chamber Membership Number : 10534
Issued Capital : BD 350,000
Paid up Capital : BD 350,000
Total Workforce : 25
Activities : Production of corrugated boxes and cartons
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Asarpata Bhagwan Ladaram, Managing Director
COMPANY NAME
BOX MAKER WLL
ADDRESS
Registered & Physical Address
Location : Salmabad
Industrial Area, Building 1399, Road 426, Block 704
PO Box : 489 & 2600
Town : Manama
Country : Bahrain
Telephone : (973-17) 874975
Facsimile : (973-17) 874972
Email : boxmaker@batelco.com.bh
Premises
Subject operates
from a medium sized suite of offices and a factory that are leased and located
in the Industrial Area of Manama.
KEY PRINCIPALS
Name Nationality Position
·
Asarpata
Bhagwan Ladaram Indian Managing
Director
·
Jovind
Ladarm Barmanad Indian Director
·
Paradeep
Damodar Daz Indian Director
·
Bharat
Asarputa B Ladram Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 21st
March 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 46720, Manama
Chamber Member No. : 10534
Issued Capital : BD 350,000
Paid up Capital : BD 350,000
Name of Shareholder (s)
·
Asarpata
Bhagwan Ladaram
·
Jovind
Ladarm Barmanad
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Paradeep
Damodar Daz
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Bharat
Asarputa B Ladram
OPERATIONS
Activities: Engaged in the production of corrugated
boxes and cartons.
Import
Countries: Europe and GCC
countries
Operating Trend: Steady
Subject has a workforce
of 25 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 1,850,000 BD 2,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Asarpata Bhagwan Ladaram,
Managing Director.
BANKERS
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National Bank
of Bahrain BSC
Government Road
PO Box 106
Manama
Tel: (973-17) 258800
Fax:
(973-17) 263876
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2001, subject is involved in the production of corrugated boxes and cartons.
Local sources
report that subject’s operating history is clear with nothing detrimental
uncovered regarding the manner in which payment obligations are fulfilled. The
financial situation is satisfactory and as such the company is considered to be
a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.59 |
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UK Pound |
1 |
Rs.74.55 |
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Euro |
1 |
Rs.60.57 |
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%)