|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
MADHAWDAS
GOPALDAS & SONS (MGS) |
|
|
|
|
Registered Office : |
Building 28, Block
304, Road 366, Qassim Almehza Avenue, 165 Manama |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
28.01.1975 |
|
|
|
|
Com. Reg. No.: |
463-1, Manama |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Distributors of
General Foodstuff Products, as Well as Fabrics and Textiles. |
|
|
|
|
No. of Employees : |
16 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 275,000 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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) |
|
Bahrain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : MADHAWDAS GOPALDAS & SONS
(MGS)
Country of Origin : Bahrain
Legal Form :
General Partnership
Registration Date : 28th
January 1975
Commercial
Registration Number : 463-1,
Manama
Chamber Membership Number : 794
Partners Capital : BD 10,000
Total Workforce : 16
Activities :
Distributors of general foodstuff products, as well as fabrics and textiles.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 275,000
Person Interviewed : Kiran Vasedev Bhatia, Partner
MADHAWDAS GOPALDAS
& SONS (MGS)
Location : Building 28, Block 304, Road 366
Street : Qassim Almehza Avenue
PO Box : 165
Town : Manama
Country : Bahrain
Telephone : (973-17) 210828
Facsimile : (973-17) 212345 / 210828
Mobile : (973-39) 888504 / (973-36)
649501
Email : mgsons@batelco.com.bh
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Manama.
Name Position
·
Vasdev Madhawdas Bhatia Managing
Partner
·
Kiran Vasedev Bhatia Partner
·
Madhuri Vasdev Bhatia Partner
Date of Establishment : 28th
January 1975
Legal Form :
General Partnership
Commercial Reg. No. : 463-1, Manama
Chamber Member No. : 794
Partners Capital : BD 10,000
·
Vasdev Madhawdas Bhatia 55.0%
·
Kiran Vasedev Bhatia 22.5%
·
Madhuri Vasdev Bhatia 22.5%
Activities: Engaged in the import and distribution of
general foodstuff products, as well as fabrics and textiles.
Import
Countries: Europe and GCC
countries
Brand Names: RIYA, KESAR and HONEST
Operating Trend: Steady
Subject has a
workforce of 16 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 2,100,000 BD 2,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Kiran Vasedev Bhatia, Partner
·
Future Bank
BSCC
Government Avenue
PO Box: 785
Manama
Tel: (973-17) 505000
Fax: (973-17) 224402
No complaints
regarding subject’s payments have been reported.
Opinion on the
credit figure of US$ 150,000:
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the business 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.50.12 |
|
|
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.00 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.