MIRA INFORM
REPORT
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Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
BHASIN CO WLL |
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Registered Office : |
Block No. 12, Building
No. 1122, Road No. 21, Al Sharq Area, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
04.02.1981 |
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Com. Reg. No.: |
232, Safat |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Distributors of uniforms |
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$ 250,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : BHASIN CO WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 4th February 1981
Commercial Registration Number : 232, Safat
Trade Licence Number : 4782/80
Chamber Membership Number : 10068
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Total Workforce : 25
Activities : Distributors of uniforms.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ARIC Credit Rating : BB
Recommended Credit Limit : US$ 250,000
Person Interviewed : Prithu Bhasin, General Manager
COMPANY NAME
BHASIN CO WLL
company ADDRESS
Registered & Physical Address
Location : Block No. 12, Building No. 1122,
Road No. 21
Area : Al Sharq Area
PO Box : 93
Town : Safat 13001
Country :
Telephone : (965) 22433552 / 22435301
Facsimile : (965) 22407940
Email : bhasin@qualitynet.net
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Central Business Area of Safat.
KEY PRINCIPALS
Name Nationality Position
·
Hemant Kumar Bhasin Indian Managing
Director
·
Shavi Bhasin
Indian Director
·
Farag Mubarak Al Ajeel Kuwaiti Director
·
Prithu Bhasin - General
Manager
·
Satish Kumar - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 4th
February 1981
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 232, Safat
Trade Licence No. : 4782/80
Chamber Member No. : 10068
Issued Capital : KD 100,000
Paid up Capital : KD 100,000
Name of Shareholder
(s)
·
Hemant Kumar Bhasin
·
Shavi Bhasin
·
Farag Mubarak Al Ajeel
OPERATIONS
Activities: Engaged in the import and distribution of a
wide range of uniforms, including police, army,
medical, school and catering uniforms, sportswear outfits and accessories and
tailoring materials.
Import
Countries: Europe and the
Brand Names: UNIX, CA, DDM and FABER
Operating Trend: Steady
Subject has a
workforce of 25 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Kuwaiti
Dinars (KD)
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales KD 4,280,000 KD 4,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Commercial
Bank of
PO
Box: 2861
Safat
13029
Tel: (965) 22411001
Fax:
(965) 22450150
·
Bank of
Darwaza Abdul Razzak
PO Box: 71
Safat 13001
Tel: (965) 22459771
Fax: (965) 22461430
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.45.53 |
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|
1 |
Rs.72.56 |
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Euro |
1 |
Rs.60.62 |
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.