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Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ATLAS ELECTRICAL BUILDING MATERIALS WLL |
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Registered Office : |
Building No. 284,
Road 225, Block 3121, P O Box 21703, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
20.10.2003 |
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Com. Reg. No.: |
41695-2, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of building materials |
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No. of Employees : |
08 |
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 (31.03.2012) |
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.
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Source : CIA |
Company Name : ATLAS ELECTRICAL BUILDING MATERIALS WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 20th October 2003
Commercial Registration Number : 41695-2, Manama
Chamber Membership Number : 8278
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 8
Activities : Distributors of building materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : George Dominic Alpat, Managing Director
ATLAS ELECTRICAL
BUILDING MATERIALS WLL
Registered &
Physical Address
Building : Building No. 284
Street : Road 225, Block 3121
PO Box : 21703
Town : Manama
Country : Bahrain
Telephone : (973-17) 263005 / 240035
Facsimile : (973-17) 263004
Mobile : (973-33) 930688 / (973-39)
650875
Email : atlaseec@batelco.com.bh
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Manama.
Name Nationality Position
·
George
Dominic Alpat Indian Managing
Director
·
Nesa
Ismail Alil Abbass Bahraini Director
Date of Establishment : 20th
October 2003
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 41695-2,
Manama
Chamber Member No. : 8278
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder
(s) Percentage
·
Nesa
Ismail Alil Abbass 51%
·
George
Dominic Alpat 49%
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Atlas
Electrical Supplies
PO Box: 24004
Manama
Tel: (973-17) 2630035
Activities: Engaged in the import and distribution of building
materials, including electrical equipment, cables, tiles, paint, sanitary ware
products, nail and plastic products.
Import
Countries: Spain, Belgium
and France.
International
Suppliers:
·
Top
Cable Spain
·
Cardbodiam Belgium
·
Nixan France
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 690,000 BD 800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Bahrain & Kuwait
43 Government Avenue
PO Box: 597
Manama
Tel: (973-17) 253388
Fax: (973-17) 275785
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.54.29 |
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UK Pound |
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
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 |
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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.