MIRA INFORM REPORT

Report Date :

20.07.2011

IDENTIFICATION DETAILS

Name :	AL OWFI TRADING & IMPORTING
Registered Office :	Al Jawhara Complex, Shop No. 60, Government Avenue, Central Market, P O Box 11003, Manama
Country :	Bahrain
Financials (as on) :	31.12.2010
Date of Incorporation :	07.05.1994
Com. Reg. No.:	30599-2, Manama
Legal Form :	Sole Proprietorship
Line of Business :	Distributors of general foodstuff products

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$ 150,000
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Bahrain	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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SUMMARY

Company Name : AL OWFI TRADING & IMPORTING

Country of Origin : Bahrain

Legal Form : Sole Proprietorship

Registration Date : 7^th May 1994

Commercial Registration Number : 30599-2, Manama

Chamber Membership Number : 1467

Invested Capital : BD 50,000

Total Workforce : 5

Activities : Distributors of general foodstuff products.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Recommended Credit Limit : US$ 150,000

COMPANY NAME

AL OWFI TRADING & IMPORTING

company ADDRESS

Registered & Physical Address

Building : Al Jawhara Complex, Shop No. 60

Street : Government Avenue

Area : Central Market

PO Box : 11003

Town : Manama

Country : Bahrain

Telephone : (973-17) 243857

Facsimile : (973-17) 257948

Mobile : (973-39) 457739 / 467569

Email : alsharqyia.school@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 Sultan Centre, Office No. 113 Office premises

Al Andalus Garden

Manama

Tel: (973-77) 056567

KEY PRINCIPALS

Name Nationality Position

· Yacoub Jassim Abdul Rahman Al Owfi Bahraini Proprietor

· Suresh Varghees Indian General Manager

LEGAL FORM & OWNERS

Date of Establishment : 7^th May 1994

Legal Form : Sole Proprietorship

Commercial Reg. No. : 30599-2, Manama

Chamber Member No. : 1467

Invested Capital : BD 50,000

Mr Yacoub Jassim Abdul Rahman Al Owfi is the sole proprietor of the business.

AFFILIATED COMPANIES

· Trans Bahrain Grain & Spices Co WLL

PO Box: 11003

Manama

Tel: (973-17) 243857

CR No. 34770

OPERATIONS

Activities: Engaged in the import and distribution of general foodstuff products, including canned foods and biscuits.

Import Countries: Europe and GCC countries.

Operating Trend: Steady

Subject has a workforce of 5 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 875,000 BD 910,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Arab Bank Plc

Government Avenue

PO Box: 395

Manama

Tel: (973-17) 229988

Fax: (973-17) 210443

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.59
UK Pound	1	Rs.71.62
Euro	1	Rs.62.78

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
----	NB	New Business	----

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.