MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAHAD KADHIM AHMED ESTABLISHMENT |
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Registered Office : |
Building No. 739, Road No. 1713, Complex No. 917, Rifaa, PO
Box 11484, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
08.03.2005 |
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Com. Reg. No.: |
55957 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operates with a general trade licence |
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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : FAHAD KADHIM AHMED ESTABLISHMENT
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 8th March 2005
Commercial Registration Number : 55957
Invested Capital : BD 40,000
Total Workforce : 1
Activities : Subject operates with a general trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
FAHAD KADHIM AHMED
ESTABLISHMENT
ADDRESS
Registered &
Physical Address
Location : Building No.
739, Road No. 1713, Complex No. 917, Rifaa
PO Box : 11484
Town : Manama
Country : Bahrain
KEY PRINCIPALS
Name Position
·
Fahd
Kadhim Ahmed Subiha Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
March 2005
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 55957
Invested Capital
: BD 40,000
Mr Fahd Kadhim Ahmed Subiha is the sole proprietor of
the business.
OPERATIONS
Activities: Subject operates with a general trade
licence.
Subject has a
workforce of 1 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
Local sources
report that they were unable to make direct contact with the subject as there
were no telephone numbers listed with either the local registration authorities
or the local operator. They also searched local business directories and
journals and the internet but had no success.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled.
However in view of
the above comments a measure of caution would be prudent.
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%)