MIRA
INFORM REPORT
|
Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ZAD AL KAAIR FOODSTUFF |
|
|
|
|
Registered Office : |
Block 317,
Building 346, Road 1130, Muharraq, PO Box
22831, Manama |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
11.08.2004 |
|
|
|
|
Com. Reg. No.: |
25395, Manama |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale and Retail of General Foodstuff Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : ZAD AL KAAIR FOODSTUFF
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 11th August 2004
Commercial Registration Number : 25395, Manama
Chamber Membership Number : 13170
Invested Capital : BD 30,000
Total Workforce : 10
Activities : Wholesale and retail of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ZAD AL KAAIR
FOODSTUFF
ADDRESS
Registered & Physical Address
Location : Block 317, Building 346, Road
1130, Muharraq
PO Box : 22831
Town : Manama
Country : Bahrain
Telephone : (973-17) 344840
Facsimile : (973-17) 322820
Mobile : (973-39) 644840
Email : zadalkhair@gmail.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
KEY PRINCIPALS
Name Nationality Position
·
Mrs
Mariam Abdulrahman Mohamed Al Howaili Bahraini Proprietor
·
Yousef
Ali Hassan - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 11th
August 2004
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 25395, Manama
Chamber Member No. : 13170
Invested Capital
: BD 30,000
Mrs
Mariam Abdulrahman Mohamed Al Howaili is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff products.
Import
Countries: India, Sri Lanka
and Saudi Arabia
Operating Trend: Steady
Subject has a
workforce of 10 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 850,000 BD 1,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Habib Bank
Muharraq Branch
PO Box : 566
Manama
Tel : (973-17) 343870
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.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.46 |
|
UK Pound |
1 |
Rs.83.37 |
|
Euro |
1 |
Rs.64.46 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)