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Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED ALI ASGHAR TRADING CO WLL |
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Registered Office : |
Building No. 55,
Block 314, Road No. 1404, Ghafool Area, P O Box 26253, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.05.1980 |
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Com. Reg. No.: |
10623-1 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
importer and distributor of general foodstuffs
such as, oriental pulses, spices, rice, oil, dairy products, fresh and frozen
poultry, nuts and dry fruits. |
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No. of Employees : |
15 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Bahrain |
B1 |
B1 |
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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
taken great strides in diversifying its economy and 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. Petroleum production and refining
account for more than 60% of Bahrain's export receipts, 70% of government
revenues, and 11% 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 and 2012, Bahrain
experienced economic setbacks as a result of domestic unrest, however, several
factors indicate that the economy is beginning to recover, such as the return
of the formula one race and tourist cruise ships to Bahrain. 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
foremost long-term economic challenges - youth unemployment and the growth of
government debt - more difficult to address.
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Source : CIA |
Company Name : MOHAMED ALI ASGHAR TRADING CO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 27th May 1980
Commercial Registration Number : 10623-1
Chamber Membership Number : 3513
Issued Capital : BD 500,000
Paid up Capital : BD 500,000
Total Workforce : 15
Activities : Distributors of general foodstuffs
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MOHAMED ALI ASGHAR
TRADING CO WLL
Registered &
Physical Address
Building : Building No. 55, Block 314
Street : Road No. 1404
Area : Ghafool Area
PO Box : 26253
Town : Manama
Country : Bahrain
Telephone : (973-17) 256709
Facsimile : (973-17) 233484
Mobile : (973-39) 126043 / 626611
Email : maaasd@batelco.com.bh
Please note that
the correct PO Box number is 26253 and not 262253.
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Manama.
Name Position
·
Mohamed
Ali Asghar Asadalla Managing
Director
·
Abdulmahdi
Ali Asghar Asadalla Director
Date of Establishment : 27th
May 1980
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 10623-1
Chamber Member No. : 3513
Issued Capital : BD 500,000
Paid up Capital : BD 500,000
Name of Shareholder
(s) Percentage
·
Mohamed
Ali Asghar Asadalla 50%
·
Abdulmahdi
Ali Asghar Asadalla 50%
Activities: Engaged in the import and distribution of general
foodstuffs such as, oriental pulses, spices, rice, oil, dairy products, fresh
and frozen poultry, nuts and dry fruits.
Import
Countries: Europe and the
Far East.
Brand Names: AL FARES BRAND, AL MADINA, ANTAKIYA and AL
JANNAH
Operating Trend: Steady
Subject has a
workforce of 15 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 1,115,000 BD 1,180,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local 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
company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.59 |
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|
1 |
Rs.101.09 |
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Euro |
1 |
Rs.83.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.