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Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
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Name : |
CROWN INDUSTRIES WLL |
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Registered Office : |
Block 951, Road No. 5141, Building No. 01577, 11101 & 1410
Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.08.1997 |
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Com. Reg. No.: |
38885-1 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject is engaged in the smelting and
recycling of all ferrous and non ferrous metals and plastics,
aluminium alloys, steel scrap, copper, shredded steel, lead, transformer oil,
plastic granules, pellets, prime aluminium. |
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No of Employees : |
450 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Bahrain |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 Bahrain
experienced economic setbacks as a result of domestic unrest, however, the
economy is recovered in 2012-13, partly as a result of improved tourism.
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 long-term economic challenges - youth unemployment and the
growth of government debt - more difficult to address.
|
Source
: CIA |
Company Name : CROWN INDUSTRIES WLL
Also Known As : CROWN INDUSTRIES RECYCLERS OF SCRAP METALS AND
PLASTIC WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 10th August 1997
Commercial Registration Number : 38885-1, Manama
Chamber Membership Number : 7473
Issued Capital : BD 600,000
Paid up Capital : BD 600,000
Total Workforce : 450
Activities : Smelting and recycling of aluminium and scrap metal.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Maya Anil, Chief Financial Officer
COMPANY NAME: CROWN INDUSTRIES WLL
ALSO
KNOWN AS: CROWN
INDUSTRIES RECYCLERS OF SCRAP METALS AND PLASTIC WLL
Location : Block
951, Road No. 5141, Building No. 01577
PO Box : 11101 & 1410
Town : Manama
Country : Bahrain
Telephone : (973-17) 830038 / 830733
Facsimile : (973-17) 830379 / 830074
Email : crownmet@batelco.com.bh
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Manama.
Name Nationality Position
·
Abdulrahman Ali Al Saad
Bahraini Managing
Director
·
Khalid Abdulrasool Mohamed Taher Al Sharif
Bahraini Director
·
Ghassan Ibrahim Ali Al Sabbagh
Bahraini Director
·
Faisal Ali Matrook Al Matrook
Bahraini Director
·
Jameel Ali Matrook Al Matrook
Bahraini Director
·
Fareed Yousef Khalil Al Moayad
Bahraini Director
·
Don
Rajendran - Sales
Manager
·
G P
Thiyaga Rajan - Operations
Manager
·
Maya
Anil - Chief
Financial Officer
·
Ram
Chandran - Purchase
Manager
Date of Establishment : 10th
August 1997
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 38885-1, Manama
Chamber Member No. : 7473
Issued Capital : BD 600,000
Paid up Capital : BD 600,000
·
Over
Land Trading Co WLL 14.29%
·
Abdulrahman Ali Al Saad 14.28%
·
Khalid Abdulrasool Mohamed Taher Al Sharif 14.28%
·
Ghassan Ibrahim Ali Al Sabbagh 14.28%
·
United
Commercial Services 14.28%
·
Faisal Ali Matrook Al Matrook 9.55%
·
Jameel Ali Matrook Al Matrook 9.52%
·
Fareed Yousef Khalil Al Moayad 9.52%
·
Bahrain
Industrial Group Co BSC (C)
Manama
·
Sarat
Tower WLL
Manama
·
Lona
Real Estate BSC Closed
Manama
Activities: Engaged in the smelting and
recycling of all ferrous and non ferrous metals and plastics, aluminium
alloys, steel scrap, copper, shredded steel, lead, transformer oil, plastic
granules, pellets, prime aluminium.
Import
Countries: United Kingdom,
Australia and India
Operating Trend: Steady
Subject has a
workforce of approximately 450 employees.
Financial
highlights provided by local sources are given below:
Currency: Bahraini
Dinar (BD)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Sales BD 6,667,000 BD 7,050,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Ms Maya Anil, Chief Financial Officer
·
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. 60.09 |
|
|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 82.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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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 |
|
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 |
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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 |
|
<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.