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Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
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Name : |
KAZEROONI BROTHERS |
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Registered Office : |
Building 1440, Road No. 431, Block 304, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.07.1977 |
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Com. Reg. No.: |
7824-1 |
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Legal Form : |
General Partnership |
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Line of Business : |
Processing and blending of spices as well as the packaging and distribution of general foodstuff products |
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No. of Employees : |
80 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 : KAZEROONI
BROTHERS
Country of Origin :
Bahrain
Legal Form :
General Partnership
Registration Date :
9th July 1977
Commercial Registration Number :
7824-1, Manama
Membership Number :
2270
Partners Capital :
BD 100,000
Total Workforce :
80
Activities :
Processing and blending of spices as well as the
packaging and distribution of general foodstuff products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Abdul Moshin Khalil Ramadan Kazerooni, Managing
Partner
KAZEROONI BROTHERS
Registered &
Physical Address
Location : Building
1440, Road No. 431, Block 304
Street : Al Hadermi
Avenue
PO Box : 5844
Town : Manama
Country : Bahrain
Telephone : (973-17) 246369
/ 257638
Facsimile : (973-17)
276758
Mobile : (973-36)
605565 / (973-39) 665536
Email : kazbro@batelco.com.bh / info@kazbro.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Suburban Business Area of Manama.
Name Position
Abdul Moshin Khalil Ramadan Kazerooni Managing Partner
Mahran Mohamed Sadiq Ramdan Kazerooni Partner
Bashar Mansoor Kazerooni Partner
Date of Establishment : 9th
July 1977
Legal Form : General Partnership
Commercial Reg. No. : 7824-1, Manama
Membership No. : 2270
Partners Capital : BD 100,000
Name of Partner
(s)
Abdul Moshin Khalil Ramadan Kazerooni
Mahran Mohamed Sadiq Ramdan Kazerooni
Bashar Mansoor Kazerooni
Activities: Engaged in the processing and blending of spices
as well as the packaging and distribution of general foodstuff products, specialising in rice,
pulses, nuts and spices.
Import Countries: India, Pakistan, China and the United States of
America.
International Suppliers:
Aftab Corporation Pakistan
Nova Impex India
Brand Names: AL AMIR
Operating Trend: Steady
Subject has a workforce of 80 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
2,130,000 BD
2,300,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Abdul
Moshin Khalil Ramadan Kazerooni, Managing Partner
Standard Chartered Bank
Standard Chartered Bank Building
Government Road
PO Box 29
Manama
Bahrain
Tel: (973-17) 223636 / 255946
Fax: (973-17) 230503
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.56.64 |
|
|
1 |
Rs.86.68 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
|
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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.