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Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
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Name : |
RAMEZ INDUSTRIAL COMPANY (SPC) |
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Formerly Known As : |
AL HIDD PAPER CONVERTING FACTORY |
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Registered Office : |
Building No. 379, Block No. 115 Road No. 1507 Salman Industrial Area |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
31.08.2005 |
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Com. Reg. No.: |
57980, Manama |
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Legal Form : |
Single Person Company – SPC |
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Line of Business : |
Manufacturers of plastic and paper products. |
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No. of Employees : |
35 |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
BAHRAIN - ECONOMIC OVERVIEW
Bahrain is one of the most
diversified economies in the Persian Gulf. Highly developed communication and
transport facilities make Bahrain home to numerous multinational firms with business
in the Gulf. As part of its diversification plans, Bahrain implemented a Free
Trade Agreement (FTA) with the US in August 2006, the first FTA between the US
and a Gulf state. Bahrain's economy, however, continues to depend heavily on
oil. Petroleum production and refining account for more than 60% of Bahrain's
export receipts, 70% of government revenues, and 11% of GDP (exclusive of
allied industries). Other major economic activities are production of aluminum
- Bahrain's second biggest export after oil - finance, and construction.
Bahrain competes with Malaysia as a worldwide center for Islamic banking and
continues to seek new natural gas supplies as feedstock to support its
expanding petrochemical and aluminum industries. In 2011, Bahrain experienced
economic setbacks as a result of domestic unrest. Bahrain's reputation as a
financial hub of the Gulf has been damaged, and the country now risks losing
financial institutions to other regional centers such as Dubai or Doha.
Economic policies aimed at restoring confidence in Bahrain's economy, such as
the suspension of an expatriate labor tax, will make Bahrain's foremost
long-term economic challenges - youth unemployment and the growth of government
debt - more difficult to address.
Source : CIA
Company Name : RAMEZ INDUSTRIAL COMPANY (SPC)
Also Known As : AL HIDD PAPER CONVERTING FACTORY
Country of Origin : Bahrain
Legal Form : Single Person Company – SPC
Registration Date : 31st August 2005
Commercial Registration Number : 57980, Manama
Issued Capital : BD 50,000
Paid up Capital : BD 50,000
Total Workforce : 35
Activities : Manufacturers of plastic and paper products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
RAMEZ INDUSTRIAL COMPANY (SPC)
ALSO KNOWN AS: AL HIDD PAPER
CONVERTING FACTORY
Building : Building No.
379, Block No. 115
Street : Road No.
1507
Area : Salman
Industrial Area
PO Box : 21862, Manama
Town : Hidd
Country : Bahrain
Telephone : (973-17) 464414
Facsimile : (973-17)
464417
Email : facp.manager@ramezgroup.com
/ info@ramezgroup.com
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Hidd.
Name Position
· Ramez Mohamed
Noman Al Awadhi Managing
Director
· Salah Ali Factory
Manager
Date of
Establishment : 31st
August 2005
Legal Form : Single Person
Company – SPC
Commercial Reg.
No. : 57980, Manama
Issued Capital : BD 50,000
Paid up Capital : BD 50,000
· Ramez Mohamed
Noman Al Awadhi 100%
· Muthela Detergents
Dammam
Saudi Arabia
· Ramez Jewellery
Thailand
· Ramez For
Antiques, Accessories & Household Utensils
China
Activities: Engaged in the manufacture of plastic and paper products, including
shopping and refuse bags, facial tissues, kitchen paper roll, aluminium
trays and containers.
Import Countries: Europe and GCC countries.
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
2,910,000 BD
3,275,000
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.
Please note that the registration number 49824 and telephone (973-17)
243331 and fax (973-17) 234180 belong to a company called “Ramez Market”.
“Ramez Market” is a separate legal entity to “Ramez Industrial Company (SPC)”.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.33 |
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1 |
Rs.84.30 |
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Euro |
1 |
Rs.67.45 |
INFORMATION DETAILS
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Report
Prepared by : |
PRL |
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.