MIRA INFORM REPORT
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Report Date : |
17.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ROCO WLL |
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Registered Office : |
Al Aali Shopping
Complex, 1st Floor, Seef District, P O Box: 530, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.01.2001 |
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Com. Reg. No.: |
46390-1, Manama |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers of ladies dresses and clothing accessories |
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No. of Employees
: |
6 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$ 150,000 |
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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 |
a1 |
a1 |
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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 : ROCO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 6th January 2001
Commercial Registration Number : 46390-1, Manama
Chamber Membership Number : 10419
Issued Capital : BD 30,000
Paid up Capital : BD 30,000
Total Workforce : 6
Activities : Wholesalers and retailers of ladies dresses and clothing accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ROCO WLL
company ADDRESS
Registered &
Physical Address
Building : Al Aali Shopping Complex, 1st
Floor
Area : Seef District
PO Box : 530
Town : Manama
Country : Bahrain
Telephone : (973-17) 582600
Facsimile : (973-17) 582700
Email : roco@batelco.com.bh
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
Branch Office (s)
Location Description
·
Al Aali
Shopping Complex, Ground Floor Showroom
premises
Seef District
Manama
Tel: (973-17) 564145
Fax: (973-17) 581416
KEY PRINCIPALS
Name Position
·
Najah Hassan
Ali Al Aali Managing
Director
·
Tahani
Hassan Ali Al Aali Director
·
Mohamed
Mushtaq Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 6th
January 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 46390-1,
Manama
Chamber Member No. : 10419
Issued Capital : BD 30,000
Paid up Capital : BD 30,000
Name of Shareholder
(s) Percentage
·
Najah
Hassan Ali Al Aali 50%
·
Tahani
Hassan Ali Al Aali 50%
OPERATIONS
Activities: Engaged in the wholesale and retail of
ladies dresses and clothing accessories.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 6 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 780,000 BD 935,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Gulf
International Bank BSC
Al Dowali Building
3 Palace Avenue
PO Box: 1017
Manama
Tel: (973-17) 534000 / 534300
/ 530030
Fax: (973-17) 522633 / 522530
/ 522629
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.81 |
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UK Pound |
1 |
Rs.82.00 |
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Euro |
1 |
Rs.68.81 |
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.