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Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Building 693, Road 1212, Block |
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Country : |
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Date of Incorporation : |
21.07.2014 |
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Com. Reg. No.: |
90389-1 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of sanitary ware,
marble and ceramic, plastics, glass, tiles and granite. |
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No of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bahrain |
B |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 :
Country of Origin :
Bahrain
Legal Form :
Sole Proprietorship
Registration Date :
21st July 2014
Commercial Registration Number :
90389-1
Invested Capital :
BD 10,000
Total Workforce :
3
Activities :
Distributors of sanitary ware, marble and ceramic, plastics, glass, tiles and
granite.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
CARRARA CONSTRUCTION
Registered &
Physical Address
Building : Building 693
Street : Road 1212,
Block 1012
PO Box : 28665
Town : Manama
Country : Bahrain
Telephone : (973-17) 223388
Facsimile : (973-17)
602010
Email : salah.mattar13@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Manama.
Name Position
Safeya Ali Ahmed Mohamed Proprietor
Date of Establishment : 21st July
2014
Legal Form :
Sole
Proprietorship
Commercial Reg. No. : 90389-1
Invested Capital : BD 10,000
Mr Safeya Ali Ahmed Mohamed is the sole proprietor of the business.
Activities: Engaged in the import and distribution of sanitary ware, marble and
ceramic, plastics, glass, tiles and
granite.
Import Countries: Europe and the Far East
Subject has a workforce of 3 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
Bahraini Saudi Bank BSC
Al Sadah Building
Government Avenue
PO Box: 1159
Manama
Tel: (973-17) 211010
Fax: (973-17) 210989
Unknown
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
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|
1 |
Rs.100.35 |
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Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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.