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Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
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Name : |
P MAGHANMAL AND
SONS CO WLL |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.06.1977 |
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Com. Reg. No.: |
7885-1, Manama |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Wholesale and
retail of general foodstuff product and grocery items. |
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No. of Employees : |
17 |
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$ 200,000 |
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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) |
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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 |
Company Name : P MAGHANMAL AND SONS CO WLL
Country of Origin : Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date : 27th
July 1977
Commercial
Registration Number : 7885-1, Manama
Chamber Membership
Number : 2351
Issued Capital : BD
200,000
Paid up Capital : BD
200,000
Total Workforce : 17
Activities :
Wholesale and retail of general foodstuff product and grocery items.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
Person Interviewed : Redha Krishnan, Financial Controller
P MAGHANMAL AND
SONS CO WLL
Building : Salahuddin Building 402, Shop No.
406
Street : Road 407, Al Khalifa Avenue 304
PO Box : 173
Town : Manama
Country : Bahrain
Telephone : (973-17) 253215 / 254340
Facsimile : (973-17) 274513
Mobile : (973-39) 415668
Email : pmaghanmal@gmail.com
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
Branch Offices
Location Description
·
Sitra
Industrial Area Warehouse premises
Manama
Tel: (973-17) 731837
Name Nationality Position
·
Tikamdas Parshotamdas Bhatia Indian Managing
Director
·
Gita Raj Kumar Bhatia Indian Director
·
H B
Shetty - Sales
Manager
·
Redha Krishnan - Financial
Controller
Date of Establishment : 27th
July 1977
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 7885-1, Manama
Chamber Member No. : 2351
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
·
Tikamdas Parshotamdas Bhatia 78.5%
·
Gita Raj Kumar Bhatia 21.5%
Activities: Engaged in the wholesale and retail of
general foodstuff product and grocery items, including rice, tea,
sugar, pulses, salt, paper
products, soap and oils.
Import
Countries: India and Sri
Lanka
International
Suppliers:
·
Ranga
Rao & Sons India
·
Cholayil
Pharmaceuticals India
Operating Trend: Steady
Subject has a workforce
of 17 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 1,185,000 BD 1,292,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Redha
Krishnan, Financial Controller
·
Standard
Chartered Bank
Standard Chartered Bank Building
Government Road
PO Box: 29
Manama
Bahrain
Tel: (973-17) 223636 / 255946
Fax: (973-17) 230503
No complaints
regarding subject’s payments have been reported.
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.54 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.56 |
RATING EXPLANATIONS
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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 |
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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 |
-- |
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.