MIRA
INFORM REPORT
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Report Date : |
19.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ABDUL RAZZAQ GATE TRADING WLL |
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Registered Office : |
Shop No. 35, Block No. 329 Road No. 2901 Salmaniyah Area PO Box 70243
Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
09.09.2010 |
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Com. Reg. No.: |
76111-1, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of general foodstuff products and beverages for hotels and restaurants. |
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No. of Employees : |
5 |
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$ 100,000 |
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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 |
SUMMARY
Company Name : ABDUL RAZZAQ GATE TRADING WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 9th September 2010
Commercial Registration Number : 76111-1, Manama
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 5
Activities : Distributors of general foodstuff products and beverages for hotels and
restaurants.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
Person Interviewed : Nikhath Jehn Abdul Razzaq, Director
COMPANY NAME
ABDUL RAZZAQ GATE TRADING WLL
ADDRESS
Registered & Physical Address
Building : Shop No. 35,
Block No. 329
Street : Road No.
2901
Area : Salmaniyah
Area
PO Box : 70243
Town : Manama
Country : Bahrain
Telephone : (973-16) 634335
Facsimile : (973-17)
701465
Mobile : (973-39)
866541 / (973-36) 07388
Email : info@argt-bh.com
/ abdul.razzaqnsons@gmail.com
Please note that subject’s previous address was, Building No. 0450,
Office No. 9002, Block 0616, Sitra Area, Manama.
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Manama.
KEY PRINCIPALS
Name Nationality Position
· Mohamed Abdul Hai
Mohamed Ali Bahraini Managing
Director
· Nikhath Jehn Abdul
Razzaq Indian Director
LEGAL FORM & OWNERS
Date of
Establishment : 9th
September 2010
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 76111-1, Manama
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder (s)
· Mohamed Abdul Hai
Mohamed Ali
· Nikhath Jehn Abdul
Razzaq
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff products
and beverages for hotels and
restaurants.
Import Countries: Europe and the Far East.
Subject has a workforce of 5 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
·
Habib Bank
Government Avenue
PO Box: 566
Manama
Tel: (973-17)
254889 / 273285
Fax: (973-17)
276685
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.66 |
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1 |
Rs.77.72 |
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Euro |
1 |
Rs.64.63 |
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 |
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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 |
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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.