MIRA INFORM
REPORT
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Report Date : |
25.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ORTA ANADOLU TEXTILE BAHRAIN COMPANY WLL |
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Registered Office : |
Building No. 858,
Block No. 601, Road No. 115, P O Box
70293, Sitra |
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Country : |
Bahrain |
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Date of Incorporation : |
03.05.2010 |
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Com. Reg. No.: |
74913-1, Manama |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Manufacturers of yarn and denim fabric |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 25,000 |
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Status : |
New and Small Company |
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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 : ORTA ANADOLU TEXTILE BAHRAIN COMPANY WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 3rd May 2010
Commercial Registration Number : 74913-1, Manama
Issued Capital : BD 1,000,000
Paid up Capital : BD 1,000,000
Total Workforce : 220
Activities : Manufacturers of yarn and denim fabric.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 25,000
COMPANY NAME
ORTA ANADOLU
TEXTILE BAHRAIN COMPANY WLL
company ADDRESS
Registered & Physical Address
Building : Building No. 858, Block No. 601
Street : Road No. 115
PO Box : 70293
Town : Sitra
Country : Bahrain
Telephone : (973-17) 732900
Facsimile : (973-17) 732007
Mobile : (973-38) 881042
Email : amin@ortabahrain.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Sitra.
KEY PRINCIPALS
Name Nationality Position
·
Husamettin
Toprak Turkish Managing
Director
·
Irfan
Eurgan Turkish Director
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Atilla
Kiyat Turkish Director
·
Mohamed
Amin - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
May 2010
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 74913-1,
Manama
Issued Capital : BD 1,000,000
Paid up Capital : BD 1,000,000
Name of Shareholder
(s) Percentage
·
Orta
Anadolu Tekstil Ve Dis Yatirimlar Limited Sirketi 99%
Turkey
·
Orta
Anadolu Ticaret Ve Sanayi Isletmesi TAS 1%
Turkey
OPERATIONS
Activities: Engaged in the manufacture of yarn and
denim fabric.
In
February 2011, a fire broke out at subject’s factory, workers were evacuated
and there were no
casualties.
Import
Countries: Turkey
Subject has a
workforce of approximately 220 employees.
FINANCIAL DATA
Subject is a newly formed
business and as a result financial information is not currently available.
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
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.25 |
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UK Pound |
1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.58 |
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.