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Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
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Name : |
CELTEX WEAVING
MILLS BSC (C) |
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Registered Office : |
Factory No. 2150,
Road No. 1638, Block 116, Hidd Industrial Area, 13712 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.01.1999 |
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Com. Reg. No.: |
42287-1, |
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Legal Form : |
Bahraini Shareholding Company Closed BSC
(C) |
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Line of Business : |
Production and
export of grey fabrics and yarn. |
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No. of Employees : |
145 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 : CELTEX WEAVING MILLS BSC (C)
Country of Origin : Bahrain
Legal Form :
Bahraini Shareholding Company Closed BSC (C)
Registration Date : 13th
January 1999
Commercial
Registration Number : 42287-1, Manama
Chamber Membership
Number : 8632
Issued Capital : BD
3,016,000
Paid up Capital : BD
3,016,000
Total Workforce : 145
Activities :
Production and export of grey fabrics and yarn.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Gauhar Sher,
Commercial Manager
CELTEX WEAVING
MILLS BSC (C)
Location : Factory No. 2150, Road No. 1638,
Block 116
Area : Hidd Industrial Area
PO Box : 13712
Town : Manama
Country : Bahrain
Telephone : (973-17) 466020 / 215217
Facsimile : (973-17) 466070 / 223301
Mobile : (973-39) 9622601
Email : celtex@batelco.com.bh / commercial@celtex.org
Subject operates
from a large suite of offices and a factory with warehousing facilities that
are leased and located in the Industrial Area of Manama.
Name Position
·
Abdullah
Mohamed Juma Chairman
·
Abdulrahman
Abdullah Mohamed Juma Managing
Director
·
Attiya
Ullah Omar Eddine Director
·
Taher
Bharwana General
Manager
·
Gauhar
Sher Commercial
Manager
Date of Establishment : 13th
January 1999
History : Subject began in 1999 as a Exempt Company
but changed legal form in 2010 to become a
Bahraini Shareholding Company Closed BSC
(C).
Legal Form :
Bahraini Shareholding
Company Closed BSC (C)
Commercial Reg. No. : 42287-1,
Manama
Chamber Member No. : 8632
Issued Capital : BD 3,016,000
Paid up Capital : BD 3,016,000
·
Bin
Juma Holding Co WLL 59.45%
·
Gulf
Investment Corporation (GIC) 23.00%
PO Box: 3402
Safat 13035
Kuwait
Tel: (965) 22225000
Fax: (965) 22448894
·
Romika
Atiyatalla Omaraldin 5.00%
·
Abdul
Aziz Abdulla A Muhazi 4.40%
·
Khalid
Mohammed Al Othman
4.40%
·
Mohammed
Ahmad Chaudry 3.45%
·
Ali
Assad Mohammad Ali 0.30%
Activities: Engaged in the production and export of
grey fabrics and yarn with a production capacity of 1 million
metres per month.
Import
Countries: Europe and India
Export
Countries: Pakistan
Operating Trend: Steady
Subject has a
workforce of approximately 145 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 5,100,000 BD 5,825,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Gauhar Sher, Commercial Manager
·
HSBC
Bank Middle East
93 Al Khalifa Avenue
PO Box: 57
Manama 304
Tel: (973-17) 224555 / 222158
Fax: (973-17) 226822
·
Al Ahli
Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17) 244333
Fax: (973-17) 241301
No complaints
regarding subject’s payments have been reported.
During the course of
this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.85 |
|
|
1 |
Rs.85.44 |
|
Euro |
1 |
Rs.68.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.