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Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
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Name : |
BAHRAIN NATIONAL PLASTIC CO WLL (BANAPCO) |
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Registered Office : |
Building No. 1346, Block No. 951 Road No. 5136 Askar, Alba Industrial
Area |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.09.2003 |
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Com. Reg. No.: |
51754-1 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Manufacturers of plastic tanks, pipes, traffic cones, road barriers, litter bin, electrical conduit and floating docks. |
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No. of Employees : |
35 |
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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 NATIONAL PLASTIC CO WLL (BANAPCO)
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 21st September 2003
Commercial Registration Number : 51754-1
Chamber Membership Number : 15655
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Total Workforce : 35
Activities : Manufacturers of plastic tanks, pipes, traffic cones, road barriers, litter bin, electrical conduit and floating docks.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Fawaz Sami Bu Rashid, General Manager
BAHRAIN NATIONAL PLASTIC CO WLL (BANAPCO)
Building : Building No.
1346, Block No. 951
Street : Road No.
5136
Area : Askar, Alba
Industrial Area
PO Box : 23148
Town : Manama
Country : Bahrain
Telephone : (973-17) 831114
Facsimile : (973-17)
831115
Mobile : (973-39)
640555
Email : sales@banapco.com
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Manama.
Name Position
· Sami Ahmed Bu Rashid Managing
Director
· Abdullah Sami Abdullah Amin Director
· Noor Sami Abdullah Amin Director
· Badriya Rashid Issa Falaifil Director
· Fawaz Sami Bu Rashid General
Manager
· Rashid Sami Bu Rashid Marketing
Manager
· Mohamed Ansari Finance
Manager
Date of
Establishment : 21st
September 2003
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 51754-1
Chamber Member No. : 15655
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
· Sami Ahmed Bu Rashid 50%
· Abdullah Sami Abdullah Amin 29%
· Noor Sami Abdullah Amin 15%
· Badriya Rashid Issa Falaifil 6%
Activities: Engaged in the manufacture of plastic tanks, pipes, traffic cones, road
barriers, litter bin, electrical conduit and floating docks.
Import Countries: Europe and the Far East.
Brand Names: BANAPCO
Operating Trend: Steady
Subject has a workforce of 35 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
2,225,000 BD
2,600,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Arab Bank Plc
Government Avenue
PO Box: 395
Manama
Tel: (973-17)
229988
Fax: (973-17)
210443
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.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 |
|
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 |
-- |
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.