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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AL FAYASIL BUILDING MATERIAL WLL |
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Registered Office : |
Bldg 3220, Road 1449,
Block 1014, Hamd Town, P O Box 23610, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
11.12.2007 |
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Com. Reg. No.: |
67267-1, Manama |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Import and distribution of building materials, hardware, tools, paint, plumbing and sanitary products |
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No. of Employees : |
06 |
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 : |
Usually Correct |
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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
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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 : AL FAYASIL BUILDING MATERIAL WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 11th December 2007
Commercial Registration Number : 67267-1, Manama
Issued Capital : BD 33,000
Paid up Capital : BD 33,000
Total Workforce : 6
Activities :
Import and distribution of building materials,
hardware, tools, paint,
plumbing and sanitary products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL FAYASIL BUILDING
MATERIAL WLL
Registered &
Physical Address
Location : Bldg 3220, Road 1449, Block 1014, Hamd Town
PO Box : 23610
Town : Manama
Country : Bahrain
Telephone : (973-17) 874035
Facsimile : (973-17) 874036
Mobile : (973-39) 215799
Email : alfayasil@yahoo.com
Premises
Subject operates
from a small suite of offices, a warehouse and a showroom that are rented and
located in the Suburban Business Area of Manama.
Name Nationality Position
·
Madathi
Murli Darren Indian Managing
Director
·
Sahar
Qetami Mohamed Al Kubaisi
Bahraini Director
Date of Establishment : 11th
December 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 67267-1, Manama
Issued Capital : BD 33,000
Paid up Capital : BD 33,000
Name of Shareholder
(s) Percentage
·
Sahar
Qetami Mohamed Al Kubaisi 70%
·
Madathi
Murli Darren
30%
Activities: Engaged in the import and distribution of
building materials, hardware, tools, paint, plumbing
and sanitary products.
Import
Countries: China, India and
the United Kingdom.
International
Suppliers:
· Connex United
Kingdom
Subject has a
workforce of 6 employees.
Companies registered
in Bahrain are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
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.54.38 |
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UK Pound |
1 |
Rs.82.07 |
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Euro |
1 |
Rs.70.37 |
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 |
---- |
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.