MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

TYLOS PLASTIC INDUSTRIES CO WLL

 

 

Registered Office :

Building No. 1938, Block No. 951, Road No. 5146, Askar, PO Box: 1313 Manama

 

 

Country :

Bahrain

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.09.2009

 

 

Com. Reg. No.:

72822-1

 

 

Legal Form :

With Limited Liability

 

 

line of business :

Manufacturers of PVC products

 

 

No. of Employees :

22

 

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

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : TYLOS PLASTIC INDUSTRIES CO WLL

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 16th September 2009

Commercial Registration Number            : 72822-1, Manama

Issued Capital                                        : BD 500,000

Paid up Capital                                      : BD 500,000

Total Workforce                                     : 22

Activities                                               : Manufacturers of PVC products

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

           

COMPANY NAME

 

TYLOS PLASTIC INDUSTRIES CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Building No. 1938, Block No. 951

Street               : Road No. 5146

Area                 : Askar

PO Box             : 1313

Town                 : Manama

Country             : Bahrain

Telephone         : (973-17) 830554 / 830556

Facsimile          : (973-17) 830552

Mobile               : (973-39) 611123

Email                : info@tpi-bahrain.com / tpipm@batelco.com.bh / tpism@batelco.com.bh

 

Premises

 

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

 

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

Lulwa Mohamed Yousef Al Hassan                                                          Managing Director

 

Mohamed Al Romi                                                                                 General Manager

 

Gunatilake Churajith                                                                               Financial Manager

 

 

LEGAL FORM & OWNERS

 

 

Date of Establishment  : 16th September 2009

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 72822-1, Manama

 

Issued Capital              : BD 500,000

 

Paid up Capital            : BD 500,000

 

Name of Shareholder (s)                                         Percentage

 

Mohamed Yousef Al Hassan Holding       Co WLL           95%

Manama

 

Lulwa Mohamed Yousef Al Hassan                                    5%

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of PVC products.

 

TPI is capable of producing an extensive product portfolio at an annual capacity of 15,000 metric tons, consisting of a variety of pipes and fittings made of PVC/CPVC/PVC-U/HDPE/LDPE/PPR/MDPE and conforms to BS, BS/EN, DIN, AS/NZS, ASTM, NEMA amongst other standards, ranging from 20mm to 500mm and ½" to 12".

 

Subject is ISO 9001:2008 accredited.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 22 employees.

 

 

FINANCIAL DATA

 

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 1,850,000                            BD 2,200,000

 

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

43 Government Avenue

PO Box: 597

Manama

Tel: (973-17) 253388

Fax: (973-17) 275785

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

 

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 deemed to be within subject’s financial means.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.99

UK Pound

1

Rs.87.55

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.