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Report Date : |
05.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SHREEJI FOODS INTERNATIONAL COMPANY WLL |
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Registered Office : |
Flat No. 137, Building No. 40, Block No. 314 Road No. 14 Central
Market Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
11.04.2011 |
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Com. Reg. No.: |
77754-1, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : SHREEJI FOODS INTERNATIONAL COMPANY WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 11th April 2011
Commercial Registration Number : 77754-1, Manama
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 8
Activities : Distributors of general foodstuff products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
SHREEJI FOODS INTERNATIONAL COMPANY WLL
Building : Flat No. 137,
Building No. 40, Block No. 314
Street : Road No. 14
Area : Central
Market
Town : Manama
Country : Bahrain
Telephone : (973-17) 178605
Facsimile : (973-17)
178625
Mobile : (973-39)
325544
Email : hgfdh@hotmail.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Manama.
Name Nationality Position
· Mohsen Ali Maki
Hassan Bahraini Managing
Director
· Belaben Sunilkumar
Parmar Indian Director
Date of
Establishment : 11th
April 2011
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 77754-1, Manama
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
· Mohsen Ali Maki
Hassan 51%
· Belaben Sunilkumar
Parmar 49%
Activities: Engaged in the import and distribution of general foodstuff products.
Import Countries: Europe and the Far East.
Subject has a workforce of 8 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Bahrain Islamic Bank
PO Box: 5240
Manama
Tel: (973-17)
231402
Fax: (973-17)
275734
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.54 |
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1 |
Rs.88.23 |
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Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
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.