MIRA INFORM REPORT

 

 

Report Date :

12.07.2012

 

IDENTIFICATION DETAILS

 

Name :

GULF PROCURERS FOR INDUSTRIAL SUPPLY WLL

 

 

Registered Office :

Almoayyed Tower, 22nd Floor, Office No. 2236, Al Seef

 

 

Country :

Bahrain

 

 

Date of Incorporation :

28.05.2007

 

 

Com. Reg. No.:

65340-1

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Distributors of oil and oil related products

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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                         : GULF PROCURERS FOR INDUSTRIAL SUPPLY WLL

Country of Origin                                    : Bahrain

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 28th May 2007

Commercial Registration Number            : 65340-1

Issued Capital                                        : BD 20,000

Paid up Capital                                      : BD 20,000

Activities                                               : Distributors of oil and oil related products.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

GULF PROCURERS FOR INDUSTRIAL SUPPLY WLL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Almoayyed Tower, 22nd Floor, Office No. 2236

Town                 : Al Seef

Country             : Bahrain

Telephone         : (973-17) 568199

Facsimile          : (973-17) 8878537

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Al Seef.

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                               Position

·       Amine Jheir                                                  Australian                                  Managing Director

·       Mohamed Khashman M Al Ossaimi                Saudi                                        Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28th May 2007

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 65340-1

 

Issued Capital              : BD 20,000

 

Paid up Capital            : BD 20,000

 

Name of Shareholder (s)                                                    Percentage

·       Amine Jheir                                                                          51%

·       Mohamed Khashman M Al Ossaimi                                        49%

 

 

AFFILIATED COMPANIES

 

·       Gulf Procurers for Industrial Supply WLL (Saudi Arabia)

PO Box: 76661

Al Khobar 31952

Saudi Arabia

Tel: (966-3) 8878537

Fax: (966-3) 8878534

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of oil and oil related products.

 

 

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

 

·       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

 

Please note that subject’s commercial registration number expired on 28th May 2012 and has not been renewed.

 

Please note that we were unable to contact the subject directly during our investigation.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.37

UK Pound

1

Rs.85.95

Euro

1

Rs.67.87

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.