MIRA INFORM REPORT

 

 

Report Date :           

20.09.2011

 

IDENTIFICATION DETAILS

 

Name :

NASS FOOD WLL

 

 

Registered Office :

Shop No. 989, Road No. 31, Block 634, Majlis Al Ta’awon Highway, Mina Salman Industrial Area, P O Box 669, Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

12.02.2008

 

 

Com. Reg. No.:

60037-3

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Import and distribution of general foodstuff

 

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$ 500,000

Status :

Satisfactory

Payment Behaviour :

Usually Correct

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Bahrain

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

SUMMARY

 

Company Name                         : NASS FOOD WLL

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 12th February 2008

Commercial Registration Number            : 60037-3

Chamber Membership Number                : 154487

Issued Capital                                        : BD 100,000

Paid up Capital                                      : BD 100,000

Total Workforce                         : 20

Activities                                               : Import and distribution of general foodstuff.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 500,000

 

 

 

COMPANY NAMe

 

NASS FOOD WLL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Shop No. 989, Road No. 31, Block 634

Street               : Majlis Al Ta’awon Highway

Area                 : Mina Salman Industrial Area

PO Box             : 669

Town                 : Manama

Country : Bahrain

Telephone         : (973-17) 703101 / 725522 / 703411 / 700901

Facsimile          : (973-17) 728184 / 725074 / 703376

Email                : nassfood@batelco.com.bh

 

Premises

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

 

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

·       Abdullah Ahmed Nass                                                                       Managing Director

 

·       Samir Abdullah Ahmed Nass                                                              Director

 

·       Sami Abdullah Ahmed Nass                                                               Director

 

·       Koshi Mathew                                                                                   General Manager

 

·       Wedad Nass                                                                                     Assistant General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th February 2008

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 60037-3

 

Chamber Member No. : 154487

 

Issued Capital              : BD 100,000

 

Paid up Capital            : BD 100,000

 

Name of Shareholder (s)

 

·       Abdullah Ahmed Nass

 

·       Samir Abdullah Ahmed Nass

 

·       Sami Abdullah Ahmed Nass

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Nass Group of Companies, which is a major diversified construction and trading organisation, which began business in Bahrain in 1963. Today with more 30 companies and 3,000 employees the group operates throughout the Gulf region and has extensive worldwide interests

 

The Nass Group of Companies comprises the following concerns:

 

·       Abdullah Ahmed Nass Group WLL

     Mina Salman Industrial Area

     PO Box: 669

     Manama

     Tel: (973-17) 725522 / 725299

     Fax: (973-17) 728184

     Email: aanass@batelco.com.bh

 

·       Delmon Ready Mixed Concrete Company WLL

Salamabad Road

PO Box: 936

Manama

Tel: (973-17) 783838

Fax: (973-17) 784467

 

·       Delmon Precast Company WLL

PO Box: 936

Manama

Tel: (973-17) 783838

Fax: (973-17) 784467

 

·       Shaw Nass Middle East WLL

PO Box: 15545

Manama

Tel: (973-17) 830988

Fax: (973-17) 830939

 

·       Bahrain Bulk Handling WLL

Khalifa Street

PO Box: 669

Manama

Tel: (973-17) 725522

Fax: (973-17) 728184 / 826050

 

·       Middle East Agriculture & Livestock Co WLL

Mina Salman Industrial Area

PO Box: 669

Manama

Tel: (973-17) 611167 / 612383

Fax: (973-17) 612591 / 612384

Email: meal@batelco.com.bh

 

·       Gulf Acid Industries WLL

PO Box: 2770

Manama

Tel: (973-17) 730686

Fax: (973-17) 731991

 

·       A.A. Nass Contracting Co WLL

A.A. Nass Building

Mina Salman

PO Box: 669

Manama

Tel: (973-17) 725522

Fax: (973-17) 728184

Email: nascivil@batelco.com.bh

 

·       B.K. Nass WLL

PO Box: 669

Manama

Tel: (973-17) 725522

Fax: (973-17) 728184

 

·       TDI Nass International WLL

PO Box: 669

Manama

Tel: (973-17) 725522

Fax: (973-17) 722961

 

·       Shahnaz Enterprises Company WLL

PO Box: 669

Manama

Tel: (973-17) 725522

Fax: (973-17) 728184

 

·       Oil Marketing Corporation EC

PO Box: 669

Manama

Tel: (973-17) 725522

Fax: (973-17) 728184

 

·       Gulf Development Corporation

PO Box: 669

Manama

Tel: (973-17) 725522

Fax: (973-17) 728184

 

·       Abdullah Nass & Partners Ltd

PO Box: 10073

Jubail Industrial City 31961

Saudi Arabia

Tel: (966-3) 3412096

Fax: (966-3) 3411495

 

·       Al Ghanim Nass Company WLL

PO Box: 1632

Safat 13017

Kuwait

Tel: (965) 3982500

Fax: (965) 3982533

 

·       Livestock & Agricultural Development Company Ltd

PO Box: 12109

Khartoum

Sudan

Tel: (249-11) 472771

Fax: (249-11) 472509

 

·       Nass Industrial Services WLL

Khalifa Street

PO Box: 669

Manama

Tel: (973-17) 731152 / 701166

Fax: (973-17) 732420

Email: nassmech@batelco.com.bh

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff.

 

The product range includes:


• Whole Chicken Grillers, Boneless Chicken and Chicken Parts imported from Brazil, China, USA, Holland.
• Beef imported from New Zealand, Brazil, India, USA.
• Veal imported from Australia.
• Lamb imported from New Zealand and China.
• Mutton imported from New Zealand.
• Vegetables and French Fries imported from Belgium, USA and China.
• Fish imported from UK, Norway and India.
• Rice imported from India.
• Butter, Cheese and Milk Powder imported from Denmark, Australia, Ireland and Argentina.
• Tomato Paste, Whole Peeled Tomatoes and Tahina imported from Turkey and Italy.
• Chilled Beef, Veal and Lamb imported from New Zealand and Australia.
• Tortillas and other Mexican products imported from Mexico and Sharjah.
• American Deli items imported from USA.

Nass Food’s market segmentation and target markets are hotels, supermarkets, caterers, ship chandeliers and restaurants.

The company has a storage capacity of 1,000 metric tons which includes freezers, chillers and dry stores.

 

Import Countries: India, Thailand and East Africa

 

Subject has a workforce of 20 employees.

 

 

FINANCIAL DATA

 

Companies registered in Bahrain are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Bank of Bahrain BSC

NBB Tower

Government Road

PO Box: 106

Manama

Tel: (973-17) 258800

Fax: (973-17) 263876

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

 

GENERAL COMMENTS

 

Nass Food WLL was established in February 2008 and specialises in the import and distribution of general foodstuff.

 

It is run in a professional manner and is owned by members of the wealthy Nass family who are prominent businessmen in Bahrain.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.79

UK Pound

1

Rs.75.06

Euro

1

Rs.65.35

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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