MIRA INFORM REPORT

 

 

Report Date :           

19.10.2011

 

IDENTIFICATION DETAILS

 

Name :

BAHRAIN ALLOYS MANUFACTURING CO BSC (C) (BAMCO)

 

 

Registered Office :

Building No. 1104, Block No. 951, Road No. 5135, Askar Industrial Area, P O Box 5543, Manama

 

 

Country :

Bahrain

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

12.02.1994

 

 

Com. Reg. No.:

31326-1

 

 

Legal Form :

Bahraini Shareholding Company Closed BSC (C)

 

 

Line of Business :

Manufacturers of primary aluminium and master alloys

 

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$ 2,000,000

Status :

Good

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Bahrain

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : BAHRAIN ALLOYS MANUFACTURING CO BSC (C) (BAMCO)

Country of Origin                                    : Bahrain

Legal Form                                            : Bahraini Shareholding Company Closed BSC (C)

Registration Date                                   : 12th February 1994

Commercial Registration Number            : 31326-1

Chamber Membership Number                : 6384

Issued Capital                                        : BD 250,000

Paid up Capital                                      : BD 250,000

Total Workforce                                     : 38

Activities                                               : Manufacturers of primary aluminium and master alloys.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 2,000,000

Person Interviewed                                 : R Lakshmi Narayan, Finance Manager

 

COMPANY NAME

 

BAHRAIN ALLOYS MANUFACTURING CO BSC (C) (BAMCO)

 

 

company mADDRESS

 

Registered & Physical Address

Building             : Building No. 1104, Block No. 951

Street               : Road No. 5135

Area                 : Askar Industrial Area

PO Box             : 5543

Town                 : Manama

Country             : Bahrain

Telephone         : (973-17) 830011

Facsimile          : (973-17) 830060

Mobile               : (973-39) 464893

Email                : ban13ter@bamco.com.bh

 

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Manama.

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

 

·       Andreas Michael Rohrseitz                            German             Managing Director

 

·       David John Williams                                      Australian                      Director

 

·       Gert Wilhelm Friedrich Rohrseitz                    German             Director

 

·       Graham Banister                                                  -                            General Manager

 

·       R Lakshmi Narayan                                              -                            Finance Manager

 

·       Iftikhar Choudary                                                  -                            Quality Control Manager

 

·       Padmanabahan Pillai                                -                            Production Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th February 1994

 

Legal Form                  : Bahraini Shareholding Company Closed BSC (C)

 

Commercial Reg. No.  : 31326-1

 

Chamber Member No. : 6384

 

Issued Capital              : BD 250,000

 

Paid up Capital            : BD 250,000

 

Name of Shareholder (s)                                                       Percentage

 

·       Breton Investments BSC                                                        52.00%

 

·       Alfanar Investment Holding Co BSC (C)                                   16.32%

 

·       Gulf Markets International WLL                                               16.05%

 

·       Mohammed Sarwar Rabbani                                                   14.00%

 

·       Rabab Mahdi Mohamed Ali Almahroos                                      1.63%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of primary aluminium and master alloys.

 

                 Subject is ISO 9001:2008 accredited.

 

Production Capacity: 30,000mt per year.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 38 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 21,600,000                           BD 25,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr R Lakshmi Narayan, Finance Manager

 

 

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

 

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 company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.77.58

Euro

1

Rs.67.58

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.