MIRA
INFORM REPORT
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Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAVALANI AND SONS WLL |
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Registered Office : |
Building No. 775, Road No 114, Block 601, North Sitra Industrial Area, PO Box 71, Sitra 601 |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
24.08.1979 |
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Com. Reg. No.: |
596 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of building materials and
construction equipment |
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 : KAVALANI AND SONS WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 24th August 1979
Commercial Registration Number : 596
Chamber Membership Number : 517
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
Total Workforce : 60
Activities : Import and distribution of building materials and construction equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
KAVALANI AND SONS
WLL
ADDRESS
Registered &
Physical Address
Location : Building No.
775, Road No 114, Block 601
Area : North
Sitra Industrial Area
PO Box : 71
Town : Sitra
601
Country : Bahrain
Telephone : (973-17) 732888
Facsimile : (973-17) 737379
Email : kavson@batelco.com.bh
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Sitra.
KEY PRINCIPALS
Name Position
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Mukesh
Tola Ram Managing
Director
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Visham
Tola Ram Director
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Tola
Ram Norsidaz Director
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Tamal
Diskanshan Director
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Parashant
Raj Director
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Narendar
Jender Singh Director
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Madhuri
Jander Singh Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
August 1979
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 596
Chamber Member No. : 517
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
Name of Shareholder
(s)
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Mukesh
Tola Ram
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Visham
Tola Ram
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Tola
Ram Norsidaz
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Tamal
Diskanshan
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Parashant
Raj
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Narendar
Jender Singh
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Madhuri
Jander Singh
OPERATIONS
Activities: Engaged in the import and distribution of power
tools, hand tools, building materials, electrical, HVAC
spares, safety equipment, chemicals, fittings, packing & jointing
equipment, cleaning equipment, welding consumables, belting, fasteners, lifting
equipment, garage equipment, bars, sheets and instrumentation, hoses, pneumatic
tools, ropes, shelving, strappings, tapes and adhesives.
Import
Countries: China, India,
United Kingdom, Japan and the United States of America
Operating Trend: Steady
Subject has a
workforce of 60 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 3,890,000 BD 4,440,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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HSBC Bank
Middle East
93 Al Khalifa Avenue
PO Box : 57
Manama 304
Tel : (973-17) 224555 / 222158
Fax : (973-17) 226822
Email : bbmemnm@batelco.com.bh
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.26 |
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UK Pound |
1 |
Rs.79.19 |
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Euro |
1 |
Rs.64.42 |
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%)