|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAKEEL TRADING CO WLL |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.11.2006 |
|
|
|
|
Com. Reg. No.: |
60539-2 |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Wholesalers and retailers of stationery, computer accessories, foodstuffs, cleaning and household products. |
|
|
|
|
No. of Employees : |
110 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Bahrain |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : SHAKEEL TRADING CO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 14th November 2006
Commercial Registration Number : 60539-2
Issued Capital : BD 250,000
Paid up Capital : BD 250,000
Total Workforce : 110
Activities : Wholesalers and retailers of stationery, computer accessories, foodstuffs, cleaning and household products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Asfar, Administration Executive
SHAKEEL TRADING CO WLL
Building : Bahrain
Pride Trading Centre Building
Street : Al Istiqlal Highway
Area : Sanad Area
PO Box : 21503
Town : Manama
Country : Bahrain
Telephone : (973-17) 624212
Facsimile : (973-17)
624661
Mobile : (973-39)
626156
Email : shte@batelco.com.bh
/ shakeelahmed.ste@gmail.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
· Sitra Office
premises
Tel: (973-17) 730547
· Salamabad Office premises
Tubli
Tel: (973-17) 899504
· Adari Office premises
Tel: (973-17) 405424
Name Position
· Shakeel Ahmed
Mahmoud Ahmed Managing
Director
· Rabia Shakeel
Ahmed Mahmoud Ahmed Director
· Abu Talaha Mohamed General
Manager
· Safir Eddine Khan Finance
Manager
· Mohamed Asfar Administration
Executive
Date of
Establishment : 14th
November 2006
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 60539-2
Issued Capital : BD 250,000
Paid up Capital : BD 250,000
· Shakeel Ahmed
Mahmoud Ahmed
· Rabia Shakeel
Ahmed Mahmoud Ahmed
· Bahrain Pride
Trading Centre WLL
Manama
Activities: Engaged in the wholesale and retail of stationery, computer
accessories, foodstuffs, cleaning and
household products.
Import Countries: India and the United Kingdom.
International Suppliers:
· Hindustan Pencils India
· Kangaroo
Industries India
· Helix United
Kingdom
Brand Names: KANGAROO and
NATRAJ
Operating Trend: Steady
Subject has a workforce of 110 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
5,175,000 BD
5,395,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bahrain Islamic Bank
PO Box: 5240
Manama
Tel: (973-17)
231402
Fax: (973-17)
275734
·
Al Ahli Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17)
244333
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.90.78 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.