MIRA INFORM
REPORT
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Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
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Name : |
AL AYYAM TRADING WLL |
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Registered Office : |
Building No. 1051,
Block No. 1203, Hamad Town Road, Road No. 316, P O Box 21551, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.10.1992 |
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Com. Reg. No.: |
28299-1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers of building materials, tiles, timber and electrical products |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SUMMARY
Company Name : AL AYYAM TRADING WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 26th October 1992
Commercial Registration Number : 28299-1
Chamber Membership Number : 9227
Issued Capital : BD 30,000
Paid up Capital : BD 30,000
Total Workforce : 18
Activities : Wholesalers and retailers of building materials, tiles, timber and
electrical products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Rajesh Rajappan, Director
COMPANY NAME
AL AYYAM TRADING WLL
company ADDRESS
Registered & Physical Address
Building : Building No. 1051, Block No. 1203
Street : Hamad Town Road, Road No. 316
PO Box : 21551
Town : Manama
Country : Bahrain
Telephone : (973-17) 415161
Facsimile : (973-17) 415181 / 414077
Mobile : (973-39) 461743
Email : iame@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 Nationality Position
·
Aaleya Juma Khamis Buallay Bahraini Managing
Director
·
Malayude Padeettaihil Kunjukunju Sivadasan Indian Director
·
Rajesh
Rajappan Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 26th
October 1992
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 28299-1
Chamber Member No. : 9227
Issued Capital : BD 30,000
Paid up Capital : BD 30,000
Name of Shareholder
(s) Percentage
·
Aaleya Juma Khamis Buallay 51%
·
Malayude Padeettaihil Kunjukunju Sivadasan 29%
·
Rajesh
Rajappan 20%
AFFILIATED COMPANIES
·
Al Amal Hospital WLL
·
Wellness Health Care Co WLL
·
Sun International Co WLL
·
The Indian Ayurvedic Medical Centre
·
Thawabit
Properties WLL
OPERATIONS
Activities: Engaged in the wholesale and retail of
building materials, tiles, timber and electrical products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 18 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 1,480,000 BD 1,550,000
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.73 |
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UK Pound |
1 |
Rs.73.21 |
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Euro |
1 |
Rs.63.90 |
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.