MIRA
INFORM REPORT
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Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
KHAZANA WLL |
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Registered Office : |
Government Avenue, 1193, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
02.01.2001 |
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Com. Reg. No.: |
465245-5 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the import and distribution of carpets and wooden furniture |
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No. of Employees : |
35 |
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 |
SUMMARY
Company Name :
KHAZANA WLL
Country of Origin :
Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date :
2nd January 2001
Commercial Registration Number :
465245-5
Chamber Membership Number :
10009
Issued Capital :
BD 140,000
Paid up Capital :
BD 140,000
Total Workforce :
35
Activities :
Distributors of carpets and wooden furniture.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 200,000
COMPANY NAME
KHAZANA WLL
ADDRESS
Registered & Physical Address
Location : Government
Avenue
PO Box : 1193
Town : Manama
Country : Bahrain
Telephone : (973-17) 825909
Facsimile : (973-17)
825908
Mobile : (973-39)
445888
Email : khazana@batelco.com
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
· Bahrain Mall Showroom
premises
Manama
Tel: (973-17)
556062
· Sheraton Hotel Showroom
premises
Manama
Tel: (973-17)
536377
KEY PRINCIPALS
Name Nationality Position
· Issa Mohamed Juma
Aldoy Bahraini Managing
Director
· Bashir Ahmed
Abdulaziz Bhat Bahraini Director
· Faisal Khurshid
Reshi Pakistani Director
· Shoaib Mohamed - Sales
Manager
· Khasabi Abbassi - Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2nd
January 2001
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 465245-5
Chamber Member No. : 10009
Issued Capital : BD 140,000
Paid up Capital : BD 140,000
Name of Shareholder (s) Percentage
· Faisal Khurshid
Reshi 49%
· Bashir Ahmed Abdulaziz
Bhat 26%
· Issa Mohamed Juma
Aldoy 25%
AFFILIATED COMPANIES
· Oriental
Handicraft
Manama
OPERATIONS
Activities: Engaged in the import and distribution of carpets and wooden furniture.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 35 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Bahraini Dinar (BD)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales BD
2,610,000 BD
2,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
· Gulf International
Bank BSC
Al Dowali
Building
3 Palace
Avenue
PO Box:
1017
Manama
Tel:
(973-17) 534000 / 534300 / 530030
Fax:
(973-17) 522633 / 522530 / 522629
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.50 |
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|
1 |
Rs.77.73 |
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Euro |
1 |
Rs.65.18 |
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 |
-- |
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.