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Report Date : |
19.08.2013 |
IDENTIFICATION DETAILS
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Name : |
ANWAR MAKLAI TRADING CO WLL |
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Registered Office : |
Building No. 607, Block
215, Road No. 1511, Rashid Avenue, P O Box 18684, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
25.02.2009 |
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Com. Reg. No.: |
71091-1, Manama |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesalers and retailers of building materials, plumbing materials, PVC pipes, fittings and water heaters. |
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No. of Employees : |
06 |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Bahrain |
B1 |
B1 |
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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 has taken great strides in diversifying its economy and its
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. 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 and 2012, Bahrain
experienced economic setbacks as a result of domestic unrest, however, several
factors indicate that the economy is beginning to recover, such as the return
of the formula one race and tourist cruise ships to Bahrain. Economic policies
aimed at restoring confidence in Bahrain's economy, such as the suspension of
an expatriate labor tax and frequent bailouts of Gulf Air, 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 : ANWAR MAKLAI TRADING CO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 25th February 2009
Commercial Registration Number : 71091-1, Manama
Chamber Membership Number : 64819
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 6
Activities :
Wholesalers and retailers of building
materials, plumbing materials,
PVC pipes, fittings and water heaters.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Abdullah Anwar Abdullah Maklai, General Manager
ANWAR MAKLAI TRADING CO WLL
Registered &
Physical Address
Location : Building No. 607, Block
215
Street : Road No.
1511, Rashid Avenue
PO Box : 18684
Town : Manama
Country : Bahrain
Telephone : (973-17) 342940
Facsimile : (973-17) 342941
Mobile : (973-39) 603473
Email : amaklai@batelco.com.bh
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Manama.
Name Position
·
Anwar Abdullah Yousef Maklai Managing
Director
·
Sultana
Yousef Othman Director
·
Abdullah
Anwar Abdullah Maklai General
Manager
·
C Roby Sales
Manager
Date of Establishment : 25th
February 2009
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 71091-1, Manama
Chamber Member No. : 64819
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder
(s) Percentage
·
Anwar Abdullah Yousef Maklai 60%
·
Sultana
Yousef Othman 40%
Activities: Engaged in the wholesale and retail of building
materials, plumbing materials, PVC pipes, fittings and
water heaters.
Import
Countries: United Kingdom
and Germany.
International
Suppliers:
·
Polypipe
Ltd United Kingdom
·
Conex United Kingdom
·
Lamontite United Kingdom
·
Dudley
Ltd United Kingdom
·
Diplomat United Kingdom
·
Pegler United Kingdom
·
Han Sanitar Germany
Operating Trend:
Steady
Subject has a
workforce of 6 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 Revenue BD 1,650,000 BD 1,800,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Abdullah Anwar Abdullah Maklai, General Manager
·
Bahrain
Islamic Bank
Government Road
PO Box: 5240
Manama
Tel: (973-17) 231402
Fax: (973-17) 275734
No complaints
regarding subject’s payments have been reported.
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.61.82 |
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UK Pound |
1 |
Rs.96.57 |
|
Euro |
1 |
Rs.82.45 |
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 |
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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.