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Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
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Name : |
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Formerly Known As : |
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Registered Office : |
Building No. 134 Al Asfoor Avenue PO Box 11067 Manama |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.11.2009 |
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Com. Reg. No.: |
734582-2 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operates several divisions like Dental Division, Labs & Surgical Division, Physiotherapy & Orthopaedic Division |
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No. of Employees : |
16 |
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 :
Also Known As : MANAMA MEDICAL & CHEMICALS EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 25th November 2009
Commercial Registration Number : 734582-2
Invested Capital : BD 20,000
Total Workforce : 16
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Sahar Qadami, Finance Manager
MANAMA IMPORT AND EXPORT EST
ALSO KNOWN AS: MANAMA MEDICAL & CHEMICALS EST
Building : Building No.
134
Street : Al Asfoor
Avenue
PO Box : 11067
Town : Manama
Country : Bahrain
Telephone : (973-17) 280222
Facsimile : (973-17) 280909
Mobile : (973-39) 613388
Email : qadami@manamamedical.com
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
· Mansour Merza Mohamed Ali Qadmi Proprietor
& General Manager
· Sahar Qadami Finance
Manager
· Aris Biandilla Sales Manager (Dental Division)
· Samina Shaheen Sales
Manager (Labs & Surgical Division)
· Giri Nanda Giri Sales
Manager (Physiotherapy & Orthopaedic Division)
Date of
Establishment : 25th November 2009
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 734582-2
Invested Capital : BD 20,000
Mr Mansour Merza Mohamed Ali Qadmi is the sole proprietor of the business.
Activities: Subject’s operations are performed through the following divisions:
· Dental Division
Engaged in the import and distribution of dental products and
equipment.
· Labs &
Surgical Division
Engaged in the import and distribution of laboratory, surgical
equipment and instruments.
· Physiotherapy
& Orthopaedic Division
Engaged in the import
and distribution of physiotherapy and orthopaedic equipment and related
accessories.
Import Countries: United Kingdom, Germany and the United States of
America
Agencies Held:
· Polymed
· Aetrex
· Handsafe
· Silimed
· PMS
· Veda Lab
· Orfit
· Lucky Baby
· Delta Lab
· E Life
· Axis Shield
· Audit Diagnostics
· Pac Dent
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
1,880,000 BD
2,010,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
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 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
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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.