MIRA INFORM REPORT
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Report Date : |
30.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ENTIFADHA BUILDING MATERIALS |
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Registered Office : |
Building No. 60,
Road No. 51, Block 205, P O Box 50320, Hidd |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.11.1989 |
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Com. Reg. No.: |
9826-5, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of building materials and electrical accessories |
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No. of Employees
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10 |
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
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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 : ENTIFADHA BUILDING MATERIALS
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 9th November 1989
Commercial Registration Number : 9826-5, Manama
Chamber Membership Number : 10932
Invested Capital : BD 60,000
Total Workforce : 10
Activities : Distributors of building materials and electrical accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Sinto Jose, Sales Executive
COMPANY NAME
ENTIFADHA BUILDING MATERIALS
company ADDRESS
Registered &
Physical Address
Location : Building No. 60, Road No. 51, Block
205
PO Box : 50320
Town : Hidd
Country : Bahrain
Telephone : (973-17) 675866 / 673834 / 671031
Facsimile : (973-17) 324429 / 673834
Mobile : (973-36) 655163 / (973-33)
941000
Email : entifadha@batelco.com.bh
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Hidd.
Branch Offices
Location Description
·
Muharq Area Office
premises
Tel: (973-17)
324233
Fax: (973-17)
324429
·
Galali Area Office
premises
Tel: (973-17)
673874
KEY PRINCIPALS
Name Position
·
Mohamed
Yousef Abdulrahman Al Shamlan Proprietor
& General Manager
·
Johnson Thomas Assistant
General Manager
·
Sinto Jose Sales
Executive
LEGAL FORM & OWNERS
Date of Establishment : 9th
November 1989
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 9826-5,
Manama
Chamber Member No. : 10932
Invested Capital
: BD 60,000
Mr Mohamed Yousef Abdulrahman Al Shamlan is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
building materials and electrical accessories.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 10 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 1,500,000 BD 1,650,000
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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Bahrain
Islamic Bank
PO Box: 5240
Manama
Tel: (973-17) 231402
Fax: (973-17) 275734
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1989, subject is involved in the import and distribution of building materials
and electrical accessories.
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the business 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 |
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US Dollar |
1 |
Rs.53.36 |
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UK Pound |
1 |
Rs.82.51 |
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Euro |
1 |
Rs.68.99 |
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.