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Report Date : |
25.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CHUNILAL PURSHOTTAM & CO |
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Registered Office : |
Building No. 3746, Block No. 304 Road No.
473 PO Box : 4 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1948 |
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Com. Reg. No.: |
249-1, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and distribution of general foodstuff products. |
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No. of Employees : |
12 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Bahrain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
Company Name : CHUNILAL PURSHOTTAM & CO
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Start Date : 1948
Registration Date : 4th April 1961
Commercial Registration Number : 249-1, Manama
Chamber Membership Number : 119
Issued Capital : BD 50,000
Paid up Capital : BD 50,000
Total Workforce : 12
Activities : Import and distribution of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Kinal Zinazurvadiya, Finance Manager
CHUNILAL PURSHOTTAM & CO
Building :
Building No. 3746, Block No. 304
Street :
Road No. 473
PO Box :
4
Town :
Manama
Country :
Bahrain
Telephone :
(973-17) 210738 / 382999 / 382444
Facsimile :
(973-17) 210750 / 382792
Email :
cpco@batelco.com.bh
Please note that subject’s previous address was, Door No. 154, Building No. 1872, 15th Floor, Avare Tower,
Road No. 5134, Block 351, Sanabis Area, Manama.
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Manama.
Name Nationality Position
· Chandrakant Vithal Bhai Patel Indian Managing Director
· Urvashi Chandrakant Patel Indian Director
· Chirag Chandrakant Patel British Director
· Kinal
Zinazurvadiya - Finance
Manager
· Mohamed Ghayas - Sales
Manager
Date of
Establishment : Subject’s
operations date back to 1948, however it was registered on 4th April
1961
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 249-1, Manama
Chamber Member No. : 119
Issued Capital : BD 50,000
Paid up Capital : BD 50,000
· Chandrakant Vithal Bhai Patel 50%
· Urvashi Chandrakant Patel 25%
· Chirag Chandrakant Patel 25%
· Louts P I Events WLL
Manama
Activities: Engaged in the import and distribution of general foodstuff products,
specialising in dairy products from India. Subject is the exclusive distributor
of Amul Dairy Products in Bahrain.
Import Countries: Europe, Asia and the Far East
International Suppliers:
· C Patel & Co India
· Anopam International India
· DRD Commodities India
Operating Trend: Steady
Subject has a workforce of 12 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
725,000 BD
800,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Kinal Zinazurvadiya, Finance
Manager
·
HSBC Bank Middle East
93 Al Khalifa Avenue
PO Box: 57
Manama 304
Tel: (973-17) 224555 / 222158
Fax: (973-17) 226822
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk. As such the above
credit figure is considered to be admissible.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.01 |
|
|
1 |
Rs.86.89 |
|
Euro |
1 |
Rs.67.83 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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 |
|
<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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.