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Report Date : |
13.11.2013 |
IDENTIFICATION DETAILS
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Name : |
THINGS TO DO |
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Registered Office : |
Building No. 611, Shop No. 609, Block No. 426, Road No. 2621, Budaiya
Area, PO Box 26117, Manama |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
05.03.1975 |
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Com. Reg. No.: |
1841-1 |
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Legal Form : |
Single Person Company |
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Line of Business : |
Distributors of paintings, antiques, handicrafts and equestrian supplies and equipment |
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No. of Employees : |
9 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 :
THINGS TO DO
Country of Origin :
Bahrain
Legal Form :
Single Person Company – SPC
Registration Date :
5th March 1975
Commercial Registration Number :
1841-1
Chamber Membership Number :
5357
Issued Capital :
BD 50,000
Paid up Capital :
BD 50,000
Total Workforce :
9
Activities :
Distributors of paintings, antiques, handicrafts and equestrian supplies and equipment
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
THINGS TO DO
Registered &
Physical Address
Building : Building No.
611, Shop No. 609, Block No. 426
Street : Road No.
2621
Area : Budaiya Area
PO Box : 26117
Town : Manama
Country : Bahrain
Telephone : (973-17) 590409
/ 712835
Facsimile : (973-17)
590409
Mobile : (973-39)
447362
Email : thingstd@batelco.com.bh / info@thingstodobahrain.net
Premises
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Manama.
Name Position
June Marie Al Saffar Managing
Director
Date of Establishment : 5th
March 1975
Legal Form : Single Person
Company – SPC
Commercial Reg. No. : 1841-1
Chamber Member No. : 5357
Issued Capital : BD 50,000
Paid up Capital : BD 50,000
Name of
Shareholder (s) Percentage
June Marie Al Saffar 100%
Activities: Engaged in the import, distribution
and retail of paintings, antiques, handicrafts and equestrian supplies and
equipment.
Import Countries: United
Kingdom
Brand Names: DALER ROWNEY, CANSON, POTTERY
CRAFTS, PEBEO, DMC, FRANK BAINES SADDLERY and WINTEC & BATES
Operating Trend: Steady
Subject has a workforce of 9 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
1,355,000 BD
1,510,000
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
PAYMENT HISTORY
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.63.59 |
|
|
1 |
Rs.101.56 |
|
Euro |
1 |
Rs.85.15 |
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 |
|
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.