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Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Yam Trading |
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Registered Office : |
Block No. 911, Road No. 369, P O Box 28011, East Riffa |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.06.2006 |
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Com. Reg. No.: |
13639-8 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Distributors of
Building Materials and Safety Products. |
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No. of Employees : |
8 |
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
|
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 : YAM TRADING
Country of Origin : Bahrain
Legal Form :
Sole Proprietorship
Registration Date : 14th June
2006
Commercial
Registration Number : 13639-8
Invested Capital : BD 60,000
Total Workforce : 8
Activities :
Distributors of building materials and safety products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Amer,
Sales Manager
YAM TRADING
Location : Block No. 911, Road No. 369
PO Box : 28011
Town : East Riffa
Country : Bahrain
Telephone : (973-17) 769245
Facsimile : (973-17) 777099
Mobile : (973-79) 9666661 /
(973-36) 639606 / (973-39) 232418
Email : yamtrading@gmail.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of East Riffa.
Name Position
·
Ali Abdullah Ahmed Al Ghatam Proprietor
& General Manager
·
Irshad
Hussain Assistant
General Manager
·
Mohamed
Amer Sales
Manager
Date of Establishment : 14th June 2006
Legal Form: Sole Proprietorship
Commercial Reg. No.: 13639-8
Invested Capital
: BD 60,000
Mr. Ali Abdullah
Ahmed Al Ghatam is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of
building materials and safety products, such as shoes, helmets, gloves and
harnesses.
Import
Countries: China, India,
Cyprus and Italy
International
Suppliers:
·
Veral
Co Cyprus
·
Ferplast Italy
· K P Agrwala India
Operating Trend: Steady
Subject has a
workforce of 8 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 1,085,000 BD 1,150,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Al Ahli
Commercial Bank
East Riffa Branch
PO Box: 5941
Manama
Tel: (973-17) 778807
Fax: (973-17) 241301
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.83.97 |
|
Euro |
1 |
Rs.71.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
|
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.