MIRA INFORM REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL ENTERPRISES |
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Registered Office : |
Universal Food Centre Building No. 144, |
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Country : |
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Year of Establishment : |
1972 |
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Com. Reg. No.: |
12-10 |
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Legal Form : |
Proprietorship Concern |
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Line of Business : |
Importers, Wholesalers, Distributors and Retailers of
foodstuff, supermarket items, office equipment, office automation, furniture
and carpets, shelving and racking systems |
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 : |
BD 200,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Company NAME
Universal Enterprises
company ADDRESS
Building :
Universal Food Centre Building No. 144
Street :
Area :
Block No. 321
P.O.Box
No. : 1062
Town :
Country :
Telephone :
(973) 1729 0303
Fax :
(973) 1729 3818
E-Mail :
unienter@batelco.com.bh / unienter@unienter.com
Website :
www.unienter.com
Also
Known As : Mohammed Abdullah Issa Al Mannai T/A Universal
SENIOR COMPANY PERSONNEL
Name Position
1.
Fawaz Mohammed Al Mannai Managing Director / Owner
2.
Chandra Shekar Financial Manager
3.
Issa Hubail Human
Resources Manager
Total
Employees : 120
(subject)
600 (group)
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
Subject
is a member of the Al Mannai Group of Companies - one of the
leading
Groups in
diversified
activities including trading, manufacturing, construction
and
steel fabrication and employs 600 people.
We
consider it is acceptable to deal with subject for MEDIUM amounts.
Opinion
on maximum credit : BD 200,000 (associations inspire
confidence for higher amounts if
required).
Trade
risk assessment :
TRADE REFERENCES
Name : NASHUA INTERNATIONAL LTD
P.O
Box : 268
Area :
Town : Guernsey,
Country :
Name : MCCAIN FOODS LTD
Town : Florenceville
Province :
Country :
Name : NASHUA CORPORATION
Street :
Town :
Country :
Name : HARPER AND TURSTELL
Street : Denington Estate
Town : Wellingborough
State : Northamptonshire
Country :
Name : POSTALIA GMBH
Street : 185 Muhlheimer Strasse
Town :
Country :
PRINCIPAL BANKERS
NAME : NATIONAL BANK OF
Branch :
PO
Box : 106
Town :
Telephone:
(973) 1722 8800
Fax : (973) 1722 8998
FINANCIAL INFORMATION
Private
companies in
disclose
balance sheets. However, the subject interviewed offered
the
following information :
Sales
Turnover : BD 3,500,000 - 2000 - exact
: BD 3,500,000 - 2001 - exact
: BD 3,200,000 - 2002 - exact
: BD 3,250,000 - 2004 - exact
: BD 3,500,000 - 2005 - exact
: BD 3,800,000 - 2006 - exact
: BD 4,000,000 - 2007 - exact
: BD 8,000,000 - 2008 - exact *
: BD 9,000,000 - 2009 - exact
: BD
9,500,000 – 2010 – exact
: BD 10,000,000 – 2011 – projected
Net
Profit : BD 1,000,000 – 2009 – exact
: BD
1,000,000 – 2010 – exact
: BD
1,200,000 – 2011 - projected
*
A significant increase in sales turnover in 2008 was attributed to
favourable
market conditions and expansion of the business.
Financial
year ends 30 June.
LEGAL STATUS AND HISTORY
Date
Started : 1972
History
: The subject company was established in
Since
its inception subject registered/deleted following branches/divisions :
-
Mohammaed Abdulla Isa Al Manaei
(Sub C.R. No. 12-1): Registered on 08/04/1979
and was deleted on
10/01/2007;
-
Almannai
(Sub C.R. No. 12-2): Registered on
08/04/1979;
-
Al Mannai Mobility Workshop
(Sub C.R. No. 12-3): Registered on 08/03/1979
and was deleted on
08/03/1996;
-
Universal Enterprises
(Sub C.R. No. 12-4): Registered on 17/01/1973
and was deleted on
17/01/1974;
-
Mohammed Abdulla Isa
(Sub C.R. No. 12-5): Registered on 10/11/1984
and was deleted on
10/11/1985;
-
Universal Inzayecer
(Sub C.R. No. 12-6): Registered on 26/03/1987
and was deleted on
26/03/1988;
-
Universal Enterprises
(Sub C.R. No. 12-7): Registered on 21/08/1989
and was deleted on
21/08/1990;
-
Universal Enterprices
(Sub C.R. No. 12-8): Registered on 19/02/1990
and was deleted on
19/02/1991;
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Universal Catering
(Sub C.R. No. 12-9): Registered on
07/09/1998;
-
Universal Enterprises
(Sub C.R. No. 12-11): Registered on
10/11/1984;
-
Universal Enterprises
(Sub C.R. No. 12-12): Registered on
26/03/1987;
-
Universal Enterprises
(Sub C.R. No. 12-13): Registered on
21/08/1989;
-
Universal Enterprises
(Sub C.R. No. 12-14): Registered on
19/02/1990;
-
Universal Enterprises Workshop
(Sub C.R. No. 12-15): Registered on 08/03/1979
and was deleted on
11/09/2006;
-
Universal Enterprises
(Sub C.R. No. 12-16): Registered on
03/09/2001;
-
Universal Enterprises
(Sub C.R. No. 12-17): Registered on
10/09/2003;
-
Universal Enterprises Clearing Services
(Sub C.R. No. 12-18): Registered on
25/01/2004;
-
Universal Business techniques
(Sub C.R. No. 12-19): Registered on
06/06/2004 and was deleted on
06/06/2005;
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Universal Furniture Industries
(Sub C.R. No. 12-20): Registered on
28/03/2006;
-
Universal Enterprises
(Sub C.R. No. 12-21): Registered on
13/09/2006;
-
Universal Enterprises
(Sub C.R. No. 12-22): Registered on
02/10/2006;
-
Universal Enterprises
(Sub C.R. No. 12-23): Registered on
10/01/2007;
-
Universal Enterprises
(Sub C.R. No. 12-24): Registered on
07/05/2007;
-
Universal Enterprises
(Sub C.R. No. 12-25): Registered on
21/06/2007;
-
Universal Enterprises
(Sub C.R. No. 12-26): Registered on
22/04/2008;
-
Universal Enterprises
(Sub C.R. No. 12-27): Registered on
25/05/2008;
-
Universal Enterprises
(Sub C.R. No. 12-28): Registered on
31/08/2008;
-
Universal Enterprises
(Sub C.R. No. 12-29): Registered on
03/09/2008;
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Universal Enterprises
(Sub C.R. No. 12-30): Registered on
11/09/2008;
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Universal Enterprises (Khaleej Times)
(Sub C.R. No. 12-31): Registered on
24/11/2008;
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Universal Enterprises
(Sub C.R. No. 12-32): Registered on
01/03/2009;
-
Universal Enterprises
(Sub C.R. No. 12-33): Registered on
20/04/2009;
-
Universal Enterprises
(Sub C.R. No. 12-34): Registered on
17/11/2009;
-
Universal Enterprises
(Sub C.R. No. 12-35): Registered on
17/02/2010;
-
Universal Enterprises Psises
(Sub C.R. No. 12-36): Registered on
15/04/2010;
-
Universal Enterprises
(Sub C.R. No. 12-37): Registered on
25/10/2010;
-
Universal Enterprises
(Sub C.R. No. 12-38): Registered on
28/10/2010;
-
(Sub C.R. No. 12-39): Registered on
01/11/2010;
-
Universal Enterprises
(Sub C.R. No. 12-40): Registered on
14/12/2010.
C.R.
No. : 12-10 (registered on 17/01/1973, expiry date: 17/01/2012)
(previously was 1418)
BCCI
Membership No. : 848
Capital
: not applicable
Individual
Establishment (proprietorship) owned by Fawaz Mohammed Abdullah Issa Al Mannai
(Bahraini national).
Personal
Profile on Mohammed Abdullah Issa Al Mannai :
Bahraini
national, born in the late 1930's and married with children.
Affiliated
companies of Universal Enterprises :
Subject
is a member of the Al Mannai Group which also includes the following companies:
Associates
1. AL Mannai Jewelery WLL
Telephone: (973) 1753 3176 / 1753 3935
Fax
: (973) 1753 3177
2. Al Mannai Trading & Investment WLL
Janabiya, near Budaia, Block 330
Telephone: (973) 1769 7800
Fax
: (973) 1769 7090
3. Mannai Motors Services
Telephone: (973) 1773 2255 / 1773 0330
Fax
: (973) 1773 1234
4. Redmack Industrial Services (
PO Box No 29040
Telephone: (973) 1770 0370 / 1770 0375
Fax
: (973) 1770 0376
5. Mannai Construction
PO Box No 968
Telephone: (973) 1769 0343
Fax
: (973) 1769 4484
ACTIVITIES
The
Company is involved in the following activities :
Trading
as importers, wholesalers, distributors and retailers of foodstuff, supermarket
items, office equipment, office automation, furniture and carpets, shelving and
racking systems.
Subject
operates through the following divisions :
-
Universal Food Centre
Importers and retailers of food items such as
meats, fruits and
vegetables as well as consumables and a
modern range of perfumes,
cosmetics and beauty products. Subject owns
and operates a
supermarket in
-
The Wholesale Division
Wholesalers of chilled meat.
Agents
for :
1.
McCain brand frozen French Fries, cakes, vegetables and juices
from
2.
3.
Food & Non-food products of Giant Foods Inc., U. S. A.
4.
National brand spices, instant mixes, pickles and vermicelli from
5.
Vegetable oils from Goodman Fielders,
6.
Aseel brand vegetable and pure ghee,
brand vegetable oil from United Foods
Company,
7.
Frozen processed meat products from L&O Int'l Germany, under the
brand name of Al-Wajbah.
8.
Shahiya brand frozen vegetables from
9.
Vita fresh cling Fflm for food wrapping from Huntsman Film
Products Ltd.,
10.
Aluminum foil containers, trays & foil for foods, from Saudi
factory for aluminum containers,
11.
Foam products for Food packing, from
The
major customers of this Division are five stars hotels,
restaurants,
fast food outlets and leading supermarkets on the
Island.
-
Distribution & Shipchandling Division
Catering
suppliers of ships and barges once they arrive in
An
authorized Distributor for McDonald's. This Division has a fleet
of
trucks and clean and hygienic frozen, chilled, and dry warehousing
facilities
to store McDonalds' quality products and support all
catering
operations.
-
Engineering Division
The
division has specialized in designing, installing and supervising
a
number of large warehouses and retail outlets such as pharmacies,
supermarkets,
bookshops, Etc. The division is also involved in
selling
a variety of welding and commercial clearing equipments.
-
Office Equipment & Furniture Division
The
Office Equipment Division deals with a comprehensive range of
latest
and most modern of office automation products and office
furniture.
Owners
and operators of carpentry workshop manufacturing furniture.
Imports
worldwide, mainly from GCC countries,
Subject
only sells locally and does not engage in re-export business.
FACILITIES
The
Company has the following facilities :
Owned
premises comprising several large offices, 3 showrooms and
storage
facilities located at the heading address as well as several
branch
offices located elsewhere in
SPECIAL NOTE
Interviewed:
Chandra Shekar (Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.