|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOBITEL COMMUNICATION WLL |
|
|
|
|
Registered Office : |
22 D Al Gosaibi Plaza Exhibition Avenue PO Box 20471 Manama |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.11.2008 |
|
|
|
|
Com. Reg. No.: |
70501-1 |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Distribution and maintenance of telecommunication equipment, computer hardware and systems |
|
|
|
|
No. of Employees : |
5 |
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 : |
Regular |
|
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Bahrain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
Source
: CIA
Company Name : MOBITEL COMMUNICATION WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 27th November 2008
Commercial Registration Number : 70501-1
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
Total Workforce : 5
Activities : Distribution and maintenance of telecommunication equipment, computer hardware and systems
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MOBITEL COMMUNICATION WLL
Building : 22 D Al
Gosaibi Plaza
Street : Exhibition
Avenue
PO Box : 20471
Town : Manama
Country : Bahrain
Telephone : (973-17) 293441
Facsimile : (973-17)
292809
Mobile : (973-39)
797676
Email : adeel.malik@mobitelme.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Manama.
Name Nationality Position
· Mohammad Rizwan
Mohammad Ahmed Bahraini Managing Director
· Adeel Ahmed Malik
Hafeez Ahmed Malik Pakistani Director
· Hafez Khan - Assistant
General Manager
· Michelle U Garcia - Marketing Manager
Date of
Establishment : 27th
November 2008
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 70501-1
Issued Capital : BD 100,000
Paid up Capital : BD 100,000
· Mohammad Rizwan
Mohammad Ahmed 51%
· Adeel Ahmed Malik
Hafeez Ahmed Malik 49%
Activities: Engaged in the import, distribution and maintenance of
telecommunication equipment, computer hardware and systems. Subject also
distributes stationery, school items, postage stamps and promotional gifts.
Subject is a value added services license
holder from the Telecommunication Regulatory Authority Bahrain.
Import Countries: Europe and the Far East.
International Suppliers:
· Zain
Operating Trend: Steady
Subject has a workforce of 5 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
1,620,000 BD
1,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
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.54.44 |
|
|
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
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.