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Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
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Name : |
AL ALAWI TRANSPORT EST |
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Registered Office : |
Building No. 1821, Block No. 211 Road |
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Country : |
Bahrain |
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Date of Incorporation : |
21.09.1980 |
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Com. Reg. No.: |
6627 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Operators of bus, truck and transportation fleets |
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No. of Employees : |
110 |
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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 – 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 : AL ALAWI TRANSPORT EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 21st September 1980
Commercial Registration Number : 6627
Chamber Membership Number : 2937
Invested Capital : BD 150,000
Total Workforce : 110
Activities : Operators of bus, truck and transportation fleets
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Yonis Abdullah, Assistant General Manager
AL ALAWI TRANSPORT EST
Building : Building No.
1821, Block No. 211
Street : Road No.
1131
PO Box : 22234
Town : Muharraq
Country : Bahrain
Telephone : (973-17) 343805
Facsimile : (973-17)
343823 / 601446
Mobile : (973-39) 660668
Email : info@alalawitransportest.com / alalawitransportest@yahoo.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Muharraq.
Branch Office (s)
Location Description
· Muharraq Office
premises
Tel: (973-17) 601444
Fax: (973-17) 601446
Name Position
· Sayed Mohamed
Abdulqader Mahmoud Al Alawi Proprietor
& General Manager
· Yonis Abdullah Assistant
General Manager
· Abdulqader Mohamed
Abdulqader Al Alawi Administration
Manager
Date of
Establishment : 21st
September 1980
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 6627
Chamber Member No. : 2937
Invested Capital : BD 150,000
Mr Sayed Mohamed Abdulqader Mahmoud Al Alawi is the sole proprietor of
the business.
Activities: Engaged as operators of bus, truck and transportation fleets for schools,
universities and labourers.
Subject’s has a fleet of approximately 200 buses.
Import Countries: Europe and India
International Suppliers:
· TATA India
Subject has a workforce of 110 employees.
Companies registered in Bahrain are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Bank of Bahrain & Kuwait
43 Government
Avenue
PO Box: 597
Manama
Tel: (973-17)
253388
Fax: (973-17)
275785
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.92 |
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1 |
Rs.88.91 |
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Euro |
1 |
Rs.71.25 |
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 |
-- |
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.