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Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
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Name : |
DELTA INDUSTRIAL
SUPPLIES CO WLL |
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Registered Office : |
Building No.
2664, Block No. 704, Road 443, Salmabad 541, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.04.2003 |
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Com. Reg. No.: |
50501-1, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject’s operations are performed through the following
divisions like, HVAC Division,
Building Construction Division etc |
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No. of Employees : |
60 |
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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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 |
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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 : DELTA INDUSTRIAL
SUPPLIES CO WLL
Country of Origin : Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date : 5th
April 2003
Commercial
Registration Number : 50501-1,
Manama
Chamber Membership
Number : 12750
Issued Capital : BD
200,000
Paid up Capital : BD
200,000
Total Workforce : 60
Activities :
Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shyam
Shasidhran, Finance Manager
DELTA INDUSTRIAL
SUPPLIES CO WLL
Building : Building No. 2664, Block No. 704
Street : Road 443
Area : Salmabad
PO Box : 541
Town : Manama
Country : Bahrain
Telephone : (973-17) 737573 / 786444 / 813096
Facsimile : (973-17) 737273 / 786441 / 813097
Mobile : (973-39) 696049
Email : khooheji@deltabahrain.com / kooheji@delta-bahrain.com
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Manama.
Name Position
·
Munther
Abdulaziz Mahmoud Al Khooheji Managing
Director
·
Nadeem
Abdulaziz Mahmoud Al Khooheji Director
·
Melham
Rangooni General
Manager
·
Shyam
Shasidhran Finance
Manager
Date of Establishment : 5th
April 2003
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 50501-1,
Manama
Chamber Member No. : 12750
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
·
Munther
Abdulaziz Mahmoud Al Khooheji 50%
·
Nadeem Abdulaziz
Mahmoud Al Khooheji 50%
Activities: Subject’s operations are performed through
the following divisions:
·
HVAC
Division
Engaged in the import and distribution of heat
ventilation and air conditioning systems, spare parts and related accessories.
·
Building
Construction Division
Engaged in the import and distribution of
pipes, fittings and galvanised pipes.
Import
Countries: India.
International
Suppliers:
·
Surya
Ltd India
·
Grooved
Fittings India
·
Weicco
Ltd India
Operating Trend: Steady
Subject has a
workforce of 60 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 1,820,000 BD 2,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Shyam Shasidhran, Finance Manager
·
Ahli
United Bank
Building No. 2495
Road 2832
Manama
Tel: (973-17) 585858
Fax: (973-17) 580569
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.53.46 |
|
|
1 |
Rs.86.27 |
|
Euro |
1 |
Rs.69.40 |
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 |
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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 |
|
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 |
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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 |
|
<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.