MIRA INFORM REPORT

 

 

Report Date :

06.12.2011

 

IDENTIFICATION DETAILS

 

Name :

ORTA ANADOLU TEXTILE BAHRAIN COMPANY WLL

 

 

Registered Office :

Building No. 858, Block No. 601 Road No. 115 Industrial Area PO Box 70293 Sitra

 

 

Country :

Bahrain

 

 

Date of Incorporation :

03.05.2010

 

 

Com. Reg. No.:

74913-1, Manama

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Manufacturers of yarn and denim fabric.

 

 

No. of Employees :

220

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Bahrain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : ORTA ANADOLU TEXTILE BAHRAIN COMPANY WLL

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 3rd May 2010

Commercial Registration Number            : 74913-1, Manama

Issued Capital                                        : BD 1,000,000

Paid up Capital                                      : BD 1,000,000

Total Workforce                                     : 220

Activities                                               : Manufacturers of yarn and denim fabric.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

ORTA ANADOLU TEXTILE BAHRAIN COMPANY WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Building No. 858, Block No. 601

Street               : Road No. 115

Area                 : Industrial Area

 

PO Box             : 70293

 

Town                 : Sitra

Country             : Bahrain

 

Telephone         : (973-17) 732900

Facsimile          : (973-17) 732007

Mobile               : (973-38) 881042

Email                : amin@ortabahrain.com

 

Premises

 

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Sitra.

 

 

KEY PRINCIPALS

 

     Name                                               Nationality                                 Position

 

·       Husamettin Toprak                            Turkish                                      Managing Director

 

·       Irfan Eurgan                                      Turkish                                      Director

 

·       Atilla Kiyat                                        Turkish                                      Director

 

·       Mohamed Amin                                       -                                         General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 3rd May 2010

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 74913-1, Manama

 

Issued Capital              : BD 1,000,000

 

Paid up Capital            : BD 1,000,000

 

Name of Shareholder (s)                                           Percentage

 

·       Orta Anadolu Tekstil Ve Dis Yatirimlar Limited Sirketi               99%

Turkey

 

·       Orta Anadolu Ticaret Ve Sanayi Isletmesi TAS                          1%

Turkey

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of yarn and denim fabric.

 

                 In February 2011, a fire broke out at subject’s factory, workers were evacuated and there were no

     casualties.

 

Import Countries: Turkey

 

Subject has a workforce of approximately 220 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

·       Al Ahli Commercial Bank

Government Avenue

PO Box: 5941

Manama

Tel: (973-17) 244333

Fax: (973-17) 241301

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

GENERAL COMMENTS

 

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.39

UK Pound

1

Rs.80.20

Euro

1

Rs.68.92

 

 

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

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

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.