|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
METALS OF BAHRAIN CO WLL (MEBA) |
|
|
|
|
Registered Office : |
Building No. 1499, Block No. 951, Road No. 5140, Asker, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.04.1992 |
|
|
|
|
Com. Reg. No.: |
26835-1, |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
Manufacture of water line fittings, water coolers and air
conditioning fittings, radiators and oil cooler fittings, aluminium and brass
couplings, steel and brass fabrications |
|
|
|
|
No. of Employees : |
160 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Bahrain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : METALS OF BAHRAIN CO WLL (MEBA)
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 15th April 1992
Commercial Registration Number : 26835-1, Manama
Chamber Membership Number : 2859
Issued Capital : BD 1,000,000
Paid up Capital : BD 1,000,000
Total Workforce : 160
Activities : Manufacture of water line fittings, water coolers and air conditioning
fittings, radiators and oil cooler fittings, aluminium and brass couplings, steel and brass fabrications.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Walisa Tandapan, Financial Controller
METALS OF BAHRAIN
CO WLL (MEBA)
Registered &
Physical Address
Building : Building No.
1499, Block No. 951
Street : Road No.
5140
Area : Asker
PO Box : 54299 & 502
Town : Manama
Country : Bahrain
Telephone : (973-17) 830707
/ 830535
Facsimile : (973-17)
830004
Mobile : (973-39)
651230
Email : info@metalsofbahrain.com / info@meba.bh
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Manama.
Name Nationality Position
·
Abdullah
Fareed Khalifa Jordanian Managing Director
·
Rami
Abdullah Fareed Khalifa Jordanian Director
·
Fareed
Abdullah Fareed Khalifa Jordanian Director
· Tawfiq Jamal - Human
Resources Manager
· Walisa Tandapan - Financial
Controller
· Mohamed Sayed - Production
Manager
·
Mohamed Rashid - Sales
Manager
Date of Establishment : 15th
April 1992
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 26835-1,
Manama
Chamber Member No. : 2859
Issued Capital : BD 1,000,000
Paid up Capital : BD 1,000,000
Name of Shareholder
(s) Percentage
·
Rami
Abdullah Fareed Khalifa
55%
·
Abdullah
Fareed Khalifa
25%
·
Fareed
Abdullah Fareed Khalifa
20%
·
Khalifa
Industrial Co
Amman
Jordan
·
New Cast For Industry Marketing Services WLL
PO Box: 54299
Manama
Activities: Engaged in the manufacture of water line
fittings, water coolers and air conditioning fittings, radiators and oil cooler
fittings, aluminium and brass couplings, steel and brass fabrications.
Subject was ISO 9001 accredited in 1999.
Meba's clients include industrial firms involved in heavy
duty valve production, P.V.C. manufacturers, auto parts, A.C. manufacturers,
pump manufacturers and plumbing materials suppliers.
Import
Countries: Europe and GCC
countries
Operating Trend: Steady
Subject has a
workforce of approximately 160 employees.
Financial
highlights provided by local sources are given below:
Currency: Bahraini
Dinar (BD)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales BD 3,400,000 BD 4,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Ms Walisa Tandapan, Financial
Controller
·
National
Bank of Bahrain BSC
Government Road
PO Box: 106
Manama
Tel: (973-17) 258800
Fax: (973-17) 263876
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.54.88 |
|
UK Pound |
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.