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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
GREEN WAY TRADING CO WLL |
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Registered Office : |
Shop 12A, Road
301, Block 303, P O Box 22978, Manama 303 |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
04.08.2011 |
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Com. Reg. No.: |
78599-1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
importer and distributor of general foodstuffs, beverages
and stationery items. |
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No. of Employees : |
03 |
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 |
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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 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.
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Source : CIA |
Company Name : GREEN WAY TRADING CO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 4th August 2011
Commercial Registration Number : 78599-1
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 3
Activities : Distributors of general foodstuffs, beverages and stationery items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
GREEN WAY TRADING
CO WLL
Registered &
Physical Address
Building : Shop 12A
Street : Road 301, Block 303
PO Box : 22978
Town : Manama 303
Country : Bahrain
Mobile : (973-39) 627401 / (973-33)
681727
Email : cvx98@yahoo.com / email-gtcwll@gmail.com
Premises
Subject operates from
a small suite of offices and a shop that are rented and located in the Central
Business Area of Manama.
Name Nationality Position
·
Abdusalam
Madathil Kuniyil Indian Managing
Director
·
Aysha
Yaqoob Yusuf Alqaood Bahraini Director
Date of Establishment : 4th
August 2011
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 78599-1
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder
(s) Percentage
·
Aysha
Yaqoob Yusuf Alqaood 51%
·
Abdusalam
Madathil Kuniyil 49%
Activities: Engaged in the import and distribution of
general foodstuffs, beverages and stationery items.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 3 employees.
Financial
highlights provided by local sources are given below:
Currency: Bahraini
Dinar (BD)
Year
Ending 31/12/12:
Total Sales BD
550,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bahrain
Islamic Bank
PO Box: 5240
Manama
Tel: (973-17) 231402
Fax: (973-17) 275734
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
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UK Pound |
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.59 |
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.