MIRA INFORM REPORT
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Report Date : |
15.12.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
DELMON FISH |
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Registered Office : |
Building No.
3275, Office No. 14, Government Avenue, Road No.
461, Al Naeem Area, P O Box 1914,
Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
30.11.1999 |
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Com. Reg. No.: |
11485-1, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of fresh and dry fish |
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No. of Employees
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40 persons |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Bahrain |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : DELMON FISH
Trading As : FISH DELMON
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 30th November 1999
Commercial Registration Number : 11485-1, Manama
Chamber Membership Number : 3706
Invested Capital : BD 75,000
Total Workforce : 40
Activities : Import and distribution of fresh and dry fish.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Paradeep Rage, Marketing Manager
COMPANY NAME
DELMON FISH
TRADING
AS
FISH DELMON
company ADDRESS
Registered &
Physical Address
Building : Building No. 3275, Office No. 14
Street : Government Avenue, Road No. 461
Area : Al
Naeem Area
PO Box : 1914
Town : Manama
Country : Bahrain
Telephone : (973-17) 226588
Facsimile : (973-17) 224150
Mobile : (973-39) 606866
Email : fdelmon@batelco.co.bh
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Manama.
KEY PRINCIPALS
Name Nationality Position
·
Jawad Adnan Ali Hisham Bahraini Proprietor
& General Manager
·
Issa Ali Yousef - Assistant
General Manager
·
Hussain
Jawad Adnan Ali Hashim - Commercial
Manager
·
Paradeep Rage - Marketing
Manager
·
K Jose - Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 30th
November 1999
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 11485-1, Manama
Chamber Member No. : 3706
Invested Capital
: BD 75,000
Mr Jawad Adnan Ali Hisham is the sole proprietor of the
business.
AFFILIATED COMPANIES
·
Delmon Petroleum
Manama
Bahrain
·
Awal Fishing
Manama
Bahrain
·
Awal Factory For Freezing
Manama
Bahrain
OPERATIONS
Activities: Engaged in the import and distribution of fresh and dry fish as well as packaging and process of
sea
products.
Import
Countries: India and
Pakistan.
International
Suppliers:
·
RK
Exports India
·
Fish
Deebill Pakistan
Operating Trend: Steady
Subject has a
workforce of 40 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Bahraini
Dinar (BD)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales BD 3,300,000 BD 3,725,000
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
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
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 |
|
US Dollar |
1 |
Rs.53.58 |
|
UK Pound |
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.69.89 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.