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Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
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Name : |
JAFFAR PHARMACY WLL |
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Registered Office : |
Building No. 2616 Road |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
30.11.1992 |
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Com. Reg. No.: |
21-4, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Engaged in the import and distribution of pharmaceuticals, medicines
and baby foods |
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No. of Employees |
45 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Bahrain |
B1 |
A2 |
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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 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 : JAFFAR PHARMACY WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 30th November 1992
Commercial Registration Number : 21-4, Manama
Chamber Membership Number : 293
Issued Capital : BD 7,662,114
Paid up Capital : BD 7,662,114
Total Workforce : 45
Activities : Distributors pharmaceuticals, medicines and baby foods
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Jay Rappai, Finance Manager
JAFFAR PHARMACY WLL
Building : Building No.
2616
Street : Road No. 855
PO Box : 122
Town : Manama
Country : Bahrain
Telephone : (973-17) 731316
/ 291039
Facsimile : (973-17)
732316 / 296753 / 732533
Mobile : (973-39)
651513
Email : tahera@jaffar-h-ruyan.com / jay.rappai@jaffar-h-ruyan.com /
leo@jaffar-h-ruyan.com
Subject operates from a medium sized suite of offices, a pharmacy and a
warehouse that are rented and located in the Central Business Area of Manama.
Name Position
· Abdul Majeed
Jaffar Haider Rouyan Managing
Director
· Mohamed Saddiq
Jaffar Haider Rouyan Director
· Mohamed Kazem
Jaffar Haider Rouyan Director
· Mohamed Khalil
Jaffar Haider Rouyan Director
· Abdul Jalil Jaffar
Haider Rouyan Director
· Laila Jaffar
Haider Rouyan Director
· Tahera Rouyam General
Manager
· Leo Arthur Marketing
Manager
· Suraish Narayandra Sales
Manager
· Jay Rappai Finance
Manager
Date of
Establishment : 30th
November 1992
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 21-4, Manama
Chamber Member No. : 293
Issued Capital : BD 7,662,114
Paid up Capital : BD 7,662,114
· Abdul Majeed
Jaffar Haider Rouyan 16.66%
· Mohamed Saddiq
Jaffar Haider Rouyan 16.66%
· Mohamed Kazem Jaffar
Haider Rouyan 16.66%
· Mohamed Khalil
Jaffar Haider Rouyan 16.66%
· Abdul Jalil Jaffar
Haider Rouyan 16.66%
· Laila Jaffar
Haider Rouyan 16.66%
· Jaffar Haider
Rouyan Commercial
Manama
· Rouyan Investment
Manama
· Jalil Medical
Manama
Activities: Engaged in the import and distribution of pharmaceuticals, medicines
and baby foods.
Import Countries: Europe and GCC countries.
International
Suppliers:
· Julphar Dubai
·
Glaxo Smith Kline Dubai
Operating Trend: Steady
Subject has a workforce of 45 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
2,774,387 BD
3,046,641
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Jay Rappai, Finance Manager
·
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.
Credit amount 45,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
Please note that the address you provided belongs to Jaffar Pharmacy WLL
which is why we have sent you a report on this rather than the Ministry of
Health Bahrain.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.76 |
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|
1 |
Rs.100.72 |
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Euro |
1 |
Rs.80.55 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NIS |
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 |
-- |
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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.