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Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ABDULLA SAEED |
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Registered Office : |
Building No. 2096,
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
18.03.1992 |
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Com. Reg. No.: |
26679-1 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesalers and
retailers of household
equipment and utensils |
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No. of Employees : |
6 |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Bahrain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
Company Name : ABDULLA SAEED
Country of Origin : Bahrain
Legal Form :
Sole Proprietorship
Registration Date : 18th
March 1992
Commercial
Registration Number : 26679-1
Chamber Membership
Number : 19577
Invested Capital : BD 10,000
Total Workforce : 6
Activities :
Wholesalers and retailers of household
equipment and utensils
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 150,000
Person Interviewed : Abdullah Saeed
Mohamed Ali Al Mahroos, Proprietor & General Manager
ABDULLA SAEED AL
MAHROOS
Building : Building No. 2096
Street : Al Hadrami
Avenue
PO Box : 219
Town : Manama
Country : Bahrain
Telephone : (973-17) 253047
Facsimile : (973-17) 263723
Mobile : (973-39) 635454 / 644010
Email : urban@urbanvision.me
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
Name Position
·
Abdullah
Saeed Mohamed Ali Al Mahroos Proprietor
& General Manager
·
M
Wilson Sales
Manager
Date of Establishment : 18th
March 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 26679-1
Chamber Member No. : 19577
Invested Capital
: BD 10,000
Mr Abdullah Saeed Mohamed Ali Al Mahroos is
the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of household equipment and utensils, including
buckets, mops and plastic products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency: Bahraini Dinar (BD)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total sales BD 880,000 BD 940,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Bahrain BSC
Government Road
PO Box: 106
Manama
Tel: (973-17) 258800
Fax: (973-17) 263876
No complaints
regarding subject’s payments have been reported.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business 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.51.15 |
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|
1 |
Rs.81.79 |
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Euro |
1 |
Rs.68.34 |
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.