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Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SUBAIR TRADING CO WLL |
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Registered Office : |
Building 1148, Shop
No. 280A, Road 88, Block 708, Issa Town, P O Box 33745, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
05.04.2012 |
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Com. Reg. No.: |
80855-1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Importer and retailer
of rice and general foodstuff products |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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) |
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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 : SUBAIR TRADING CO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 5th April 2012
Commercial Registration Number : 80855-1
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 4
Activities : Import and retail of rice and general foodstuff products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
SUBAIR TRADING CO
WLL
Registered &
Physical Address
Location : Building 1148, Shop No. 280A, Road
88, Block 708, Issa Town
PO Box : 33745
Town : Manama
Country : Bahrain
Telephone : (973-39) 895157
Facsimile : (973-13) 601250
Email : subairtrading@gmail.com
Premises
Subject operates
from a small suite of offices and a shop that are rented and located in the
Central Business Area of Manama.
Name Nationality Position
·
Subair
Thadathilakath Indian Managing Director
·
Mohamed
Abdulaziz Hasan Ahmed Bahraini Director
Date of Establishment : 5th
April 2012
Legal Form :
With Limited Liability - WLL
Commercial Reg. No. : 80855-1
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder
(s) Percentage
·
Mohamed
Abdulaziz Hasan Ahmed 51%
·
Subair
Thadathilakath 49%
Activities: Engaged in the import and retail of rice
and general foodstuff products.
Import
Countries: India and
Vietnam
Subject has a
workforce of 4 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Habib
Bank
Government Avenue
PO Box: 566
Manama
Tel: (973-17) 254889 / 273285
Fax: (973-17) 276685
No complaints
regarding subject’s payments have been reported.
In view of subject’s
infancy, extensive payment and financial are not available, therefore dealings
are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.45 |
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UK Pound |
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
---- |
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.