MIRA INFORM REPORT

 

 

Report Date :

30.09.2011

 

IDENTIFICATION DETAILS

 

Name :

ANWAR MAKLAI TRADING CO WLL

 

 

Registered Office :

Building No. 607, Road No. 1511, Block 215 PO Box 18684 Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

25.02.2009

 

 

Com. Reg. No.:

71091-1, Manama

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Wholesalers and retailers of building materials, plumbing materials, PVC pipes, fittings and water heaters.

 

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$ 100,000

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

 

 

SUMMARY

 

Company Name                                     : ANWAR MAKLAI TRADING CO WLL

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 25th February 2009

Commercial Registration Number            : 71091-1, Manama

Chamber Membership Number                : 64819

Issued Capital                                        : BD 20,000

Paid up Capital                                      : BD 20,000

Total Workforce                                     : 6

Activities                                               : Wholesalers and retailers of building materials, plumbing materials, PVC pipes, fittings and water heaters.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 100,000

Person Interviewed                                 : C Roby, Commercial Manager

 

 

 

COMPANY NAME

 

ANWAR MAKLAI TRADING CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Building No. 607, Road No. 1511, Block 215

 

PO Box             : 18684

 

Town                 : Manama

Country             : Bahrain

 

Telephone         : (973-17) 342940

Facsimile          : (973-17) 342941

Mobile               : (973-39) 603473

Email                : amaklai@batelco.com.bh

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Manama.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Anwar Abdullah Yousef Maklai                                                           Managing Director

 

·       Sultana Yousef Othman                                                                     Director

 

·       C Roby                                                                                             Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th February 2009

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 71091-1, Manama

 

Chamber Member No. : 64819

 

Issued Capital              : BD 20,000

 

Paid up Capital            : BD 20,000

Name of Shareholder (s)                                            Percentage

 

·       Anwar Abdullah Yousef Maklai                                               60%

 

·       Sultana Yousef Othman                                                         40%

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of building materials, plumbing materials, PVC pipes, fittings and

     water heaters.

 

Import Countries: United Kingdom

 

International Suppliers:

 

·       Polypipe Ltd             United Kingdom

·       Conex                      United Kingdom

·       Lamontite                 United Kingdom

·       Dudley Ltd                United Kingdom

·       Diplomat                   United Kingdom

 

Subject has a workforce of 6 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

 

·       Bahrain Islamic Bank

Government Road

PO Box: 5240

Manama

Tel: (973-17) 231402

Fax: (973-17) 275734

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.92

UK Pound

1

Rs.76.52

Euro

1

Rs.66.64

 

 

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.