MIRA INFORM REPORT
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Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
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Name : |
YOUSIF HASSAN ALI & SONS EST |
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Registered Office : |
Building No. 1730,
Block No. 215, Road No. 1553, Tajjar Road, P O Bo22154, Muharraq |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.02.1972 |
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Com. Reg. No.: |
1321-1, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject’s operations are performed through Building Material Division and Bahrain
Multi Colour Division |
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 |
SUMMARY
Company Name : YOUSIF HASSAN ALI & SONS EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 6th February 1972
Commercial Registration Number : 1321-1, Manama
Invested Capital : BD 60,000
Total Workforce : 16
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mohamed Yousif Hassan Ali Al Arabi, Assistant General Manager
COMPANY NAME
YOUSIF HASSAN ALI & SONS EST
company ADDRESS
Registered &
Physical Address
Building : Building No. 1730, Block No. 215
Street : Road No. 1553, Tajjar Road
PO Box : 22154
Town : Muharraq
Country : Bahrain
Telephone : (973-17) 344468 / 343756
Facsimile : (973-17) 345880
Email : yhas@batelco.com.bh
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Muharraq.
KEY PRINCIPALS
Name Position
·
Yousif Hassan
Ali Al Arabi Proprietor
& General Manager
·
Mohamed
Yousif Hassan Ali Al Arabi Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 6th
February 1972
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1321-1,
Manama
Invested Capital
: BD 60,000
Mr Yousif Hassan
Ali Al Arabi is the sole proprietor of the business.
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Building Material Division
Distributors of building materials, tiles, ceramics and
sanitary ware products.
· Bahrain Multi Colour Division
Distributors of paint and colour products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 16 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 1,400,000 BD 1,530,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank of
Bahrain & Kuwait
PO Box: 597
Muharraq
Tel: (973-17) 331830 / 324191
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.47.84 |
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UK Pound |
1 |
Rs.75.40 |
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Euro |
1 |
Rs.65.68 |
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.