MIRA INFORM
REPORT
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Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AL RAAI BOUTIQUE |
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Registered Office : |
Shop No. 2029,
Road No. 437, P O Box 26033, Manama 304 |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.07.1996 |
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Com. Reg. No.: |
28187-2, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and retailers
of men’s and women’s ready made garments |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Bottom of Form
SUMMARY
Company Name : AL RAAI BOUTIQUE
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 22nd July 1996
Commercial Registration Number : 28187-2, Manama
Chamber Membership Number : 7105
Invested Capital : BD 25,000
Total Workforce : 4
Activities : Wholesalers and retailers of men’s and women’s ready made garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL RAAI BOUTIQUE
company ADDRESS
Registered & Physical Address
Building :
Shop No. 2029
Street : Road No. 437
PO Box : 26033
Town : Manama 304
Country : Bahrain
Telephone : (973-17) 230523
Facsimile : (973-17) 273637
Mobile : (973-39) 195612 / 150130
Email : alraai@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.
KEY PRINCIPALS
Name Position
·
Khadija Mohamed Ali Khamis Proprietor
·
Jalil Hussain Khadim Ali General
Manager
·
Shamsuddine Parpadathil Assistant
General Manager
·
Ibrahim Koyakkottu Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
July 1996
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 28187-2,
Manama
Chamber Member No. : 7105
Invested Capital
: BD 25,000
Mr Khadija Mohamed
Ali Khamis is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
men’s and women’s ready made garments.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 4 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 975,000 BD 1,045,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Al Ahli
Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17) 244333
Fax: (973-17) 241301
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.91 |
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UK Pound |
1 |
Rs.72.90 |
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Euro |
1 |
Rs.64.48 |
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.