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Report Date : |
28.07.2012 |
IDENTIFICATION DETAILS
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Name : |
AL QUTBI TRADING WLL |
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Registered Office : |
Shop 730 B, Block No. 611 Road No. 31 Sitra PO Box: 5011 & 626
Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.10.2009 |
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Com. Reg. No.: |
72940-1 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of building and plumbing materials, sanitary ware and related accessories. |
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No. of Employees : |
13 |
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 |
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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 : AL QUTBI TRADING WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 6th October 2009
Commercial Registration Number : 72940-1
Chamber Membership Number : 22371
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 13
Activities : Distributors of building and plumbing materials, sanitary ware and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL QUTBI TRADING WLL
Building : Shop 730 B,
Block No. 611
Street : Road No. 31
Area : Sitra
PO Box : 5011 & 626
Town : Manama
Country : Bahrain
Telephone : (973-17) 456229
Facsimile : (973-17)
456238
Mobile : (973-39)
362293
Email : qutbiwll@gmail.com
/ qutbi32@hotmail.com
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Manama.
Name Nationality Position
· Maqsood Ghulam
Hussain Mohamed Bahraini Managing Director
· Sabir Yousef
Lakadwala Indian Director
· Abdul Qader Yousef
Lakadwala Indian Director
· Musaddal Mohamed - General
Manager
Date of
Establishment : 6th
October 2009
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 72940-1
Chamber Member No. : 22371
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
· Maqsood Ghulam
Hussain Mohamed 51%
· Sabir Yousef
Lakadwala 25%
· Abdul Qader Yousef
Lakadwala 24%
Activities: Engaged in the import and distribution of building and plumbing
materials, sanitary ware and related
accessories.
Import Countries: United Kingdom
International Suppliers:
· Pegler United Kingdom
· Connex United Kingdom
Operating Trend: Steady
Subject has a workforce of 13 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
680,000 BD
900,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Habib Bank
Government Avenue
PO Box: 566
Manama
Tel: (973-17)
254889 / 273285
Fax: (973-17)
276685
No complaints regarding subject’s payments have been reported.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
<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.