MIRA INFORM REPORT

 

 

Report Date :           

14.06.2011

 

IDENTIFICATION DETAILS

 

Name :

FRENCH BAKERY WLL

 

 

Registered Office :

Block 941, Al Riffa Area, P O Box 954 & 22202, Manama

 

 

Country :

Bahrain 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

25.02.1992

 

 

Com. Reg. No.:

567-20, Manama

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Manufacturers of bakery products and foodstuff

 

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 31st, 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

 

 Bottom of Form

SUMMARY

 

Company Name                                     : FRENCH BAKERY WLL

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 25th February 1992

Commercial Registration Number            : 567-20, Manama

Issued Capital                                        : BD 390,000

Paid up Capital                                      : BD 390,000

Total Workforce                                     : 65

Activities                                               : Manufacturers of bakery products and foodstuff

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

Person Interviewed                                 : Ahmed Mahmoud Mohamed Hussain, Director

 

 

 

COMPANY NAME

 

FRENCH BAKERY WLL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Block 941, Al Riffa Area

PO Box             : 954 & 22202

Town                 : Manama

Country             : Bahrain

Telephone         : (973-17) 344965 / 344426

Facsimile          : (973-17) 626127

Mobile               : (973-39) 466616 / 579777

Email                : binmahmd@yahoo.com / binmahmoud@batelco.com.bh

 

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Suburban Business Area of Manama.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Mahmoud Mohamed Hussain                                                 Managing Director

 

·       Mohamed Mahmoud Mohamed Hussain                                              Director

 

·       Ahmed Mahmoud Mohamed Hussain                                                  Director

 

·       Issa Mahmoud Mohamed Hussain                                                      Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th February 1992

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 567-20, Manama

 

Issued Capital              : BD 390,000

 

Paid up Capital            : BD 390,000

 

Name of Shareholder (s)

 

·       Mahmoud Mohamed Hussain

 

·       Mohamed Mahmoud Mohamed Hussain

 

·       Ahmed Mahmoud Mohamed Hussain

 

·       Issa Mahmoud Mohamed Hussain

 

 

AFFILIATED COMPANIES

 

·       Mahmood Mohamed Hussain & Sons Co WLL

Manama

     Bahrain

 

·       Delmon Bakery WLL

Manama

     Bahrain

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of bakery products and foodstuff.

 

Import Countries: France and India

 

Supplier:

 

·       Belcolade                 Belgium

 

Operating Trend: Steady

 

Subject has a workforce of 65 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 1,450,000                            BD 1,535,000

 

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

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.87

UK Pound

1

Rs.72.83

Euro

1

Rs.64.37

 

 

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.