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Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
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Name : |
BAHRAIN FRESH FRUITS COMPANY SPC |
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Registered Office : |
Building No. 150, Block No. 236150 Road No. 30, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.08.2002 |
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Com. Reg. No.: |
43077-2, Manama |
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Legal Form : |
Single Person Company – SPC |
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Line of Business : |
Distributors of fresh and frozen fruit, vegetables, poultry and cheese. |
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No. of Employees : |
80 |
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$ 150,000 |
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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
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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 |
Company Name : BAHRAIN FRESH FRUITS COMPANY SPC
Country of Origin : Bahrain
Legal Form : Single Person Company – SPC
Registration Date : 5th August 2002
Commercial Registration Number : 43077-2,
Issued Capital : BD 1,250,000
Paid up Capital : BD 1,250,000
Total Workforce : 80
Activities : Distributors of fresh and frozen fruit, vegetables, poultry and cheese.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Ibrahim Hassan, Human Resources Manager
BAHRAIN FRESH FRUITS COMPANY SPC
Building : Building No.
150, Block No. 236150
Street : Road No. 30,
Arados Highway
Area : Samaheej
PO Box : 21626
Town : Manama
Country : Bahrain
Telephone : (973-17) 470935
Facsimile : (973-17)
470938
Mobile : (973-36) 061558
Email : import@bffc.com.bh
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Central Business Area of Manama.
Name Position
· Anvar P Sadath General
Manager
· Abdul Aziz Sales
Manager
· Eswaran Venkatraman Finance
Manager
· Ibrahim Hassan Human
Resources Manager
Date of
Establishment : 5th
August 2002
Legal Form : Single Person Company
– SPC
Commercial Reg.
No. : 43077-2, Manama
Issued Capital : BD 1,250,000
Paid up Capital : BD 1,250,000
· General Trading & Food Processing Co BSC (C) (TRAFCO) 100%
Manama
Activities: Engaged in the import and distribution of fresh and frozen fruit,
vegetables, poultry and cheese.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 80 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
3,110,000 BD
3,380,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of Bahrain & Kuwait
43 Government
Avenue
PO Box: 597
Manama
Tel: (973-17)
253388
Fax: (973-17)
275785
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.90 |
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1 |
Rs.80.77 |
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Euro |
1 |
Rs.67.40 |
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 |
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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.