MIRA INFORM REPORT

 

 

Report Date :

18.02.2011

 

IDENTIFICATION DETAILS

 

Name :

BRAMCO WLL

 

 

Registered Office :

Block 327, Building No. 256, Adliya Area, P O Box 20260, Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

31.07.1977

 

 

Com. Reg. No.:

7820-1, Manama

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

General Contractors

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 1,500,000

Status :

Satisfactory

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                                     : BRAMCO WLL

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 31st July 1977

Commercial Registration Number                        : 7820-1, Manama

Chamber Membership Number                : 2286

Issued Capital                                        : BD 200,000

Paid up Capital                                      : BD 200,000

Total Workforce                                     : 880

Activities                                               : General contractors

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 1,500,000

 

COMPANY NAME

 

BRAMCO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Block 327, Building No. 256, Adliya Area

PO Box            : 20260

Town                : Manama

Country             : Bahrain

Telephone         : (973-17) 270439 / 717006

Facsimile          : (973-17) 717009 / 732612 / 272725

Email                : bramco@gtc.net.com

 

Premises

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Manama.

 

 

KEY PRINCIPALS

 

     Name                                                   Nationality                          Position

 

·       Vinay Kumar Dewan                                American                            Chairman

 

·       Ashok Kumar                                                   -                                Director

 

·       Jalag Anand                                                     -                                General Manager

 

·       Puish Mesra                                                     -                               Technical Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 31st July 1977

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 7820-1, Manama

 

Chamber Member No. : 2286

 

Issued Capital              : BD 200,000

 

Paid up Capital            : BD 200,000

 

Name of Shareholder (s)                                                      Percentage

 

·       Bahrain Industries Investment Co                                            51%

Manama

 

·       Vinay Kumar Dewan                                                              49%

 

 

AFFILIATED COMPANIES

 

·       United Building Factories Industries

Manama

 

·       Bramco Trading Co WLL

Manama

 

·       Arabian Gulf Bulk Trade Company WLL

Manama

 

·       Comtech Middle East WLL

Manama

 

·       Scrap Mould Bahrain

Manama

 

·       Bramco Oman LLC

Oman

 

·       Bramco Steel Mould LLC

Sharjah

     United Arab Emirates

 

 

OPERATIONS

 

Activities: Engaged as general contractors, specialising in road and building construction, limestone quarrying and crushing, specialised blasting and demolition, excavation, land reclamation, slope protection and     landscaping.

 

Subject has a workforce of approximately 880 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

 

·       Banque Paribas

Government Avenue

PO Box: 5241

Manama

Tel: (973-17) 253119

Fax: (973-17) 242077

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1977, subject acts as general contractors, specialising in road and building construction, limestone quarrying and crushing, specialised blasting and demolition, excavation, land reclamation, slope protection and landscaping.

 

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 company is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.38

UK Pound

1

Rs.73.08

Euro

1

Rs.61.60

 

 

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

 

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.