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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
JBF BAHRAIN SPC |
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Registered Office : |
Building No. 461, Road No. 1508, Hidd 115, Salman Industrial City
Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
15.06.2011 |
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Com. Reg. No.: |
78175-1 |
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Legal Form : |
Single Person Company – SPC |
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Line of Business : |
Subject is engaged in the manufacture of plastic and polyester film.
Subject also acts as welding, blacksmith and fabrication contractors and also
provides pest control services. |
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No of Employees : |
200 |
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) |
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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 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.
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Source
: CIA |
Company Name : JBF BAHRAIN SPC
Country of Origin : Bahrain
Legal Form : Single Person Company – SPC
Registration Date : 15th June 2011
Commercial Registration Number : 78175-1
Chamber Membership Number : 25386
Issued Capital : BD 16,890,000
Paid up Capital : BD 16,890,000
Total Workforce : 200
Activities : Manufacturers of plastic and polyester film.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
JBF BAHRAIN SPC
Building : Building No. 461
Street : Road No. 1508
Area : Hidd 115, Salman Industrial
City
Town : Manama
Country : Bahrain
Telephone : (973-17) 181500 / 538600
Facsimile : (973-17) 181600
Subject operates from
a large suite of offices and a factory that are rented and located in the
Industrial Area of Manama.
Name Position
·
Cheerag
Bhagirath Arya Managing Director
Date of Establishment : 15th
June 2011
Legal Form :
Single Person Company – SPC
Commercial Reg. No. : 78175-1
Chamber Member No. : 25386
Issued Capital : BD 16,890,000
Paid up Capital : BD 16,890,000
·
JBF RAK
LLC 100%
Al Jazera Al Hamra Area
PO Box: 6574
Ras Al Khaimah
United Arab Emirates
Tel: (971-7) 2447269 / 2447289
Fax: (971-7) 2447202 / 2447279 / 2446620
Activities: Engaged in the manufacture of plastic and
polyester film. Subject also acts as welding, blacksmith and
fabrication contractors and also provides pest control services.
The first phase of production has commenced with manufacturing of thin
BOPET films from Line 5 purchased from Dornier, Germany, is the only one of its
kind in the world producing thickness ranging from 8 Micron to 125 Micron.
Providing deckle width of 8.7 meters integrated with single side corona
treatment and coating capabilities, this line has 3 layers of co extrusion and
slitting technology from Atlas resulting into a Max Slit Width of 3300 mm.
Second phase scheduled to commence in first quarter of 2014 with Line 6, will
produce think BOPET films ranging
from 36 Micron to 250 Micron. This state of the art structure will be capable
of delivering deckle width of 6.0 meters. Line 6 will be equipped with the most
recent dual side corona treatment along with single sided coater technology on
BOPET films. Resulting into a Max Slit Width of 3300 mm from primary slitter of
Atlas, this line will have 3 layers of co extrusion.
The stage of completion will be marked by the commencement of the third
phase of JBF Bahrain’s Line 7 in 2014. In a specially built clean room
facility, Line 7 from Dornier, Germany, bearing resemblance of Line 5 will be producing
thickness ranging from 8 Micron to 125 Micron. Providing deckle width of 8.7
meters integrated with single side corona treatment and coating capabilities,
this line will also have 3 layers of co extrusion and slitting technology from
Atlas resulting into a Max Slit Width of 3300 mm.
Production Capacity: 90,000 million tonnes per year
Import
Countries: Europe and the
Far East.
Subject has a
workforce of approximately 200 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. 59.64 |
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|
1 |
Rs. 99.20 |
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Euro |
1 |
Rs. 82.39 |
INFORMATION DETAILS
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Analysis Done by
: |
DVY |
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Report Prepared
by : |
DPT |
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.