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Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
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Name : |
SHAKAR TAILORING HOUSE |
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Registered Office : |
Building 44, Block 321, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
13.11.1962 |
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Com. Reg. No.: |
7011 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of fabrics and textiles and provides of tailoring and
design services |
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No. of Employees |
12 |
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) |
|
Bahrain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 :
SHAKAR TAILORING HOUSE
Country of Origin :
Bahrain
Legal Form :
Sole Proprietorship
Registration Date :
13th November 1962
Commercial Registration Number :
7011
Chamber Membership Number :
3759
Invested Capital :
BD 50,000
Total Workforce :
12
Activities :
Distributors of fabrics and textiles and provides of tailoring and design
services
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
SHAKAR TAILORING HOUSE
Registered &
Physical Address
Building : Building 44,
Block 321
Street : 333
Guidaibiya Street
Area : Guidaibiya
PO Box : 1318
Town : Manama
Country : Bahrain
Telephone : (973-17) 292822
/ 292315
Facsimile : (973-17)
291509
Mobile : (973-39)
417818
Email : shakar@batelco.com.bh
/ info@alshakar.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
Moda Mall Shop 22A/26A Showroom
premises
Manama
Name Position
Abdulaziz Mohamed Jasim Al Shakar Proprietor
Date of Establishment : 13th November
1962
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 7011
Chamber Member No. : 3759
Invested Capital : BD 50,000
Mr Abdulaziz Mohamed Jasim Al Shakar is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of fabrics and textiles and providers
of tailoring and design services.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 12 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
1,200,000 BD
1,225,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
ANZ Grindlays Bank
Government Avenue
PO Box: 793
Manama
Tel: (973-17) 257687
Fax: (973-17) 272708
No complaints regarding subject’s payments have been reported.
Local sources report that subject meets its payments in a timely manner
and is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
UK Pound |
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
SDA |
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 |
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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.