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Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
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Name : |
LALCHAND LAKSHMIDAS |
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Registered Office : |
Flat 21B,
Building No. 109, Wali Al Ahap Avenue, P O Box 163, Manama 304 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.04.1961 |
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Com. Reg. No.: |
198-1 |
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Legal Form : |
Single Person Company |
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Line of Business : |
Wholesalers and retailers of general foodstuffs and
textiles |
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No. of Employees : |
08 employees |
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
bahrain - ECONOMIC OVERVIEW
Bahrain is one of the most diversified economies in the Persian Gulf. Highly developed communication and transport facilities make Bahrain home to numerous multinational firms with business in the Gulf. As part of its diversification plans, Bahrain implemented a Free Trade Agreement (FTA) with the US in August 2006, the first FTA between the US and a Gulf state. Bahrain's economy, however, continues to depend heavily on oil. Petroleum production and refining account for more than 60% of Bahrain's export receipts, 70% of government revenues, and 11% of GDP (exclusive of allied industries). Other major economic activities are production of aluminum - Bahrain's second biggest export after oil - finance, and construction. Bahrain competes with Malaysia as a worldwide center for Islamic banking and continues to seek new natural gas supplies as feedstock to support its expanding petrochemical and aluminum industries. In 2011, Bahrain experienced economic setbacks as a result of domestic unrest. Bahrain's reputation as a financial hub of the Gulf has been damaged, and the country now risks losing financial institutions to other regional centers such as Dubai or Doha. Economic policies aimed at restoring confidence in Bahrain's economy, such as the suspension of an expatriate labor tax, will make Bahrain's foremost long-term economic challenges - youth unemployment and the growth of government debt - more difficult to address.
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Source : CIA |
Company Name : LALCHAND LAKSHMIDAS
Country of Origin : Bahrain
Legal Form : Single Person Company
Registration Date : 3rd April 1961
Commercial Registration Number : 198-1
Chamber Membership Number : 528
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
Total Workforce : 8
Activities : Wholesalers and retailers of general foodstuffs and textiles
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
LALCHAND LAKSHMIDAS
Registered &
Physical Address
Building : Flat 21B, Building No. 109
Street : Wali Al Ahap Avenue
PO Box : 163
Town : Manama 304
Country :
Telephone : (973-17) 211029
Facsimile : (973-17) 212387
Email : karani01@hotmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Manama.
Name Position
·
Lakshmidas
Karani Managing
Director
Date of Establishment: 3rd April 1961
Legal Form :
Single Person Company
Commercial Reg. No. : 198-1
Chamber Member No.: 528
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
Name of Shareholder
(s) Percentage
·
Lakshmidas
Karani 100%
Activities: Engaged in the wholesale and retail of general
foodstuffs and textiles.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 8 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 1,150,000 BD 1,205,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Al Ahli
Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17) 244333
Fax: (973-17) 241301
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.53 |
|
UK Pound |
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
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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.