MIRA INFORM REPORT

Report Date :

31.12.2014

IDENTIFICATION DETAILS

Name :	MARMARIS GROUP SPC
Registered Office :	Flat 15, Building 1757, Block 412 Road 1241 149 Manama
Country :	Bahrain
Date of Incorporation :	01.12.1997
Com. Reg. No.:	50-1
Legal Form :	Single Person Company – SPC
Line of Business :	Providers of restaurant and coffee shop management, car cleaning and packaging services.
No. of Employee :	25

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

Status :	Satisfactory
Payment Behaviour :	No complaints
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Bahrain	A2	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

SUMMARY

Company Name : MARMARIS GROUP SPC

Country of Origin : Bahrain

Legal Form : Single Person Company – SPC

Registration Date : 1^st December 1997

Commercial Registration Number : 50-1

Chamber Membership Number : 2340

Issued Capital : BD 200,000

Paid up Capital : BD 200,000

Total Workforce : 25

Activities : Providers of restaurant and coffee shop management, car cleaning and

packaging services

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

COMPANY NAME

MARMARIS GROUP SPC

ADDRESS

Registered & Physical Address

Building : Flat 15, Building 1757, Block 412

Street : Road 1241

PO Box : 149

Town : Manama

Country : Bahrain

Telephone : (973-17) 554414

Facsimile : (973-17) 554410

Mobile : (973-39) 661181 / (973-38) 381672

Email : kazeroon1@yahoo.com

Please note that the correct PO Box number is 149 and not 2149.

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Manama

KEY PRINCIPALS

Name Position

· Mohamed Haider Ghulam Kazerooni Managing Director

LEGAL FORM & OWNERS

Date of Establishment : 1^st December 1997

Legal Form : Single Person Company – SPC

Commercial Reg. No. : 50-1

Chamber Member No. : 2340

Issued Capital : BD 200,000

Paid up Capital : BD 200,000

Name of Shareholder (s) Percentage

· Mohamed Haider Ghulam Kazerooni 100%

AFFILIATED COMPANIES

· Marmaris Restaurant SPC

Building No. 421

Road No. 1241

Alda

PO Box: 149

Manama

Tel: (973-17) 554414

Fax: (973-17) 554410

· Marmaris Construction

Manama

CR No. 29811

OPERATIONS

Activities: Engaged in the provision of restaurant and coffee shop management, car cleaning and packaging

services.

Subject has a workforce of 25 employees.

FINANCIAL DATA

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.

BANKERS

· Bank Melli Iran

Government Avenue

PO Box: 785

Manama

Tel: (973-17) 259910 / 224368

Fax: (973-17) 224402

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

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.63.75
UK Pound	1	Rs.98.88
Euro	1	Rs.77.32

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	ANK

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.