MIRA INFORM REPORT

 

 

Report Date :

03.02.2012

 

IDENTIFICATION DETAILS

 

Name :

MAHMOOD MOHAMED HUSSAIN BIN MAHMOOD & SONS

 

 

Registered Office :

Building No. 88, Road No. 1005, Block 210 PO Box 954 Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

08.10.1996

 

 

Com. Reg. No.:

567-2

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Subject operates several divisions of Delmon Bakery Division, Contracting Division

 

 

No. of Employees :

220

 

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$ 500,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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                                     : MAHMOOD MOHAMED HUSSAIN BIN MAHMOOD & SONS

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 8th October 1996

Commercial Registration Number                        : 567-2

Issued Capital                                        : BD 390,000

Paid up Capital                                      : BD 390,000

Total Workforce                                     : 220

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 500,000

Person Interviewed                                 : Abdulaziz Mohamed Mahmood Mohamed Hussain Bin Mahmood, General Manager

COMPANY NAME

 

MAHMOOD MOHAMED HUSSAIN BIN MAHMOOD & SONS

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Building No. 88, Road No. 1005, Block 210

 

PO Box             : 954

 

Town                 : Manama

Country             : Bahrain

 

Telephone         : (973-17) 344426 / 343111

Facsimile          : (973-17) 344965

Mobile               : (973-39) 456152

Email                : binmahmd@batelco.com

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are rented and located in the Industrial Area of Manama.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ahmed Mahmood Mohamed Hussain Bin Mahmood                             Managing Director

 

·       Mohamed Mahmood Mohamed Hussain Bin Mahmood             Director

 

·       Essa Mahmood Mohamed Hussain Bin Mahmood                                Director

 

·       Abdulaziz Mohamed Mahmood Mohamed Hussain Bin Mahmood          General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 8th October 1996

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 567-2

 

Issued Capital              : BD 390,000

 

Paid up Capital            : BD 390,000

 

Name of Shareholder (s)                                    

 

·       Ahmed Mahmood Mohamed Hussain Bin Mahmood                            

 

·       Mohamed Mahmood Mohamed Hussain Bin Mahmood            

 

·       Essa Mahmood Mohamed Hussain Bin Mahmood

 

 

AFFILIATED COMPANIES

 

·       Chocolate, Ice Cream & Sweet Company

Manama

CR No. 73059

 

·       Bin Mahmood for Bakery & Catering Co

Manama

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·         Delmon Bakery Division

 

Engaged in the import and distribution of bakery products and bakery ingredients.

 

·         Contracting Division

 

Engaged in the development of real estate.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 220 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

 

·       HSBC Bank Middle East

93 Al Khalifa Avenue

PO Box: 57

Manama 304

Tel: (973-17) 224555 / 222158

Fax: (973-17) 226822

Email: bbmemnm@batelco.com.bh

 

 

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.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.13

UK Pound

1

Rs.77.85

Euro

1

Rs.64.75

 

 

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.