MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL KHALIDIA GROUP |
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Registered Office : |
Building No. 722, Road No. 85, Area 911, PO Box 28869, Riffa |
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Country : |
Bahrain |
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Date of Incorporation : |
10.07.1994 |
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Com. Reg. No.: |
20707 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s activities are performed through the following divisions Ship
and Marine Maintenance Division, General Trading Division |
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$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL KHALIDIA GROUP
Also Known As : AL KHALIDIA GENERAL TRADING
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 10th July 1994
Commercial Registration Number : 20707
Chamber Membership Number : 6415
Invested Capital : BD 500,000
Total Workforce : 500
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
AL
KHALIDIA GROUP
ALSO
KNOWN AS: AL
KHALIDIA GENERAL TRADING
ADDRESS
Registered & Physical Address
Location : Building No.
722, Road No. 85, Area 911
PO Box : 28869
Town : Riffa
Country : Bahrain
Telephone : (973-17) 832244 / 776793 / 777059
Facsimile : (973-17) 832255
Email : khalidia@batelco.com.bh
Premises
Subject operates
from a large suite of offices that are rented and located in the Suburban
Business Area of Riffa.
KEY PRINCIPALS
Name Position
·
Sheikh
Khalid Bin Mohamed Salman Al Khalifa Proprietor
·
Tariq
Ahmed Khalid General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 10th
July 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 20707
Chamber Member No. : 6415
Invested Capital
: BD 500,000
Sheikh Khalid
Bin Mohamed Salman Al Khalifa
is the sole proprietor of the business.
OPERATIONS
Activities: Subject’s activities are performed through
the following divisions:
· General Trading Division
Engaged in the import and
distribution of chemicals.
·
Ship & Marine Maintenance Division
Engaged
in the provision of ship repair and maintenance services
Import
Countries: India and China
Subject has a
workforce of approximately 500 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
·
Habib Bank
Government Avenue
PO Box : 566
Manama
Tel : (973-17) 254889 / 273285
Fax : (973-17) 276685
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National Bank
of Bahrain BSC
NBB Tower
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
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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%)