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Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL ABRAAJ
RESTAURANTS GROUP |
|
|
|
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Registered Office : |
Shop No. 144, Road 83, |
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|
Country : |
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Date of Incorporation : |
16.05.1987 |
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Com. Reg. No.: |
111203 |
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Legal Form : |
General Partnership |
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Line of Business : |
Operators of 17 restaurant outlets |
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No of Employees : |
300 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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|
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bahrain |
B1 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BAHRAIN - ECONOMIC OVERVIEW
Bahrain has made great efforts to diversify its economy; 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. In 2012, petroleum
production and refining accounted for 77% of Bahrain's export receipts, 87% of
government revenues, and 19% 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 recovered in 2012-13, partly as a result of improved tourism. Some
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 : AL ABRAAJ RESTAURANTS
GROUP
Country of Origin :
Bahrain
Legal Form :
General Partnership
Registration Date :
16th May 1987
Commercial Registration Number :
111203
Chamber Membership Number :
3509
Partners Capital :
BD 500,000
Total Workforce :
300
Activities :
Operators of 17 restaurant outlets
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
AL ABRAAJ RESTAURANTS GROUP
Registered & Physical Address
Building : Shop No. 144
Street : Road 83,
Selha Highway
Area : Jeblat
Hibshi Block 433
PO Box : 20575
Town : Manama
Country : Bahrain
Telephone : (973-17) 590006
/ 877642
Facsimile : (973-17)
594536
Mobile : (973-39)
409449
Email : erik@al-abraj.com / alabraaj@gmail.com
Premises
Subject operates from a medium sized suite of offices that are rented and
located in the Central Business Area of Manama.
Name Nationality Position
Rashed Helal Rashed Isa Bahraini Managing
Partner
Kawkab Abdulaziz Ismaeel Mohamed Yar Bahraini Partner
Hamad Rashed Helal Isa Bahraini Partner
Abdullah Rashed Helal Isa Bahraini Partner
Date of Establishment : 16th
May 1987
Legal Form : General Partnership
Commercial Reg. No. : 111203
Chamber Member No. : 3509
Partners Capital : BD 500,000
Name of Partner (s) Percentage
Rashed Helal Rashed Isa 50%
Kawkab Abdulaziz Ismaeel Mohamed Yar 20%
Hamad Rashed Helal Isa 15%
Abdullah Rashed Helal Isa 15%
Activities: Engaged in the operation of 17 restaurant outlets.
Subject has a workforce of 300 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.
Bahraini Saudi Bank BSC
Al Sadah Building
Government Avenue
PO Box: 1159
Manama
Tel: (973-17) 211010
Fax: (973-17) 210989
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
This report is produced in accordance
with and subject to the terms of an agreement between Arab Research &
Information Company Ltd (Aric Ltd) and the customer and contains unconfirmed
information compiled from third parties. Any reproduction or republication of
this report without Aric Ltd’s express written consent is prohibited. Aric Ltd
disclaims all warranties, expressed or implied, with respect to the accuracy or
reliability of the report or its fitness for any purpose.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SHG |
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.