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Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
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Name : |
BAHRAIN DALLA FOR FOOD FACTORY |
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Formerly Known as: |
Bahrain Modern Mills & Roasters |
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Registered Office : |
Road No. 1502,
Building No. 138, Area 215, P O Box 22424, Muharraq |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
24.09.1974 |
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Com. Reg. No.: |
1749-2, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
roasting and
distribution of coffee and nuts. |
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No. of Employees : |
45 |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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.
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Source : CIA |
Company Name : BAHRAIN DALLA FOR FOOD FACTORY
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 24th September 1974
Commercial Registration Number : 1749-2, Manama
Membership Number : 3255
Invested Capital : BD 65,000
Total Workforce : 45
Activities : Roasting and distribution of coffee and nuts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ilde Ponso, Purchasing Manager
BAHRAIN DALLA FOR
FOOD FACTORY
Registered &
Physical Address
Location : Road No. 1502, Building No. 138,
Area 215
PO Box : 22424
Town : Muharraq
Country : Bahrain
Telephone : (973-17) 345947 / 272501 / 343604
Facsimile : (973-17) 346762
Mobile : (973-39) 338892
Email : bmmr74@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a roasting mill that are owned and
located in the Industrial Area of Muharraq.
Name Position
·
Saqer
Hamad Al Maawdah Proprietor
& General Manager
·
Jassim
Bu Zaboon Assistant
General Manager
·
Reymond
Reyno Financial
Controller
·
Mohamed
Kaiti Sales
Manager
·
Ilde
Ponso Purchasing
Manager
Date of Establishment : 24th
September 1974
History : Subject began in 1974 under the name
“Bahrain Modern Mills & Roasters”, however in July 2012 it changed its name to “Bahrain Dalla for Food Factory”.
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1749-2,
Manama
Membership No. : 3255
Invested Capital
: BD 65,000
Mr Saqer Hamad Al
Maawdah is the sole proprietor of the business.
Activities: Engaged in the roasting and distribution of
coffee and nuts.
Subject supplies fresh Turkish, Arabic, European and Indian coffee to leading hotels, restaurants, and supermarkets in Bahrain. It also specializes in freshly roasted coffee, and a wide variety of nuts including cashews, almonds, and pistachio and different kinds of spices imported from India.
Import
Countries: India, Brazil,
Kenya, Uganda and Columbia
Brand Names: BODALAH
Operating Trend: Steady
Subject has a
workforce of 45 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 1,900,000 BD 2,205,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Road No. 718
PO Box: 57
Muharraq 207
Tel: (973-17) 322406 / 322151
Fax: (973-17) 323891
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.36 |
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UK Pound |
1 |
Rs.89.69 |
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Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.