.
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Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
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Name : |
ROCO WLL |
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Registered Office : |
Al Aali Shopping Complex, 1st Floor Seef District PO Box 530 Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.01.2001 |
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Com. Reg. No.: |
46390-1, Manama |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Subject is engaged in the wholesale and retail of ladies dresses and
clothing accessories. |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Bahrain |
B1 |
B1 |
|
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 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
|
Source
: CIA |
Company Name : ROCO WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 6th January 2001
Commercial Registration Number : 46390-1, Manama
Chamber Membership Number : 10419
Issued Capital : BD 30,000
Paid up Capital : BD 30,000
Total Workforce : 6
Activities : Wholesalers and retailers of ladies dresses and clothing accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : P Radika, Financial Controller
ROCO WLL
Building : Al Aali
Shopping Complex, 1st Floor
Area : Seef
District
PO Box : 530
Town : Manama
Country : Bahrain
Telephone : (973-17) 582600
Facsimile : (973-17)
582700
Mobile : (973-34)
093314
Email : roco@batelco.com.bh
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
· Al Aali Shopping Complex, Ground Floor Showroom
premises
Seef District
Manama
Tel: (973-17) 564145
Fax: (973-17) 581416
Name Nationality Position
· Najah Hassan Ali Al Aali Bahraini Managing
Director
· Tahani Hassan Ali Al Aali Bahraini Director
· P Radika - Financial
Controller
Date of
Establishment : 6th
January 2001
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 46390-1, Manama
Chamber Member No. : 10419
Issued Capital : BD 30,000
Paid up Capital : BD 30,000
· Najah Hassan Ali Al Aali 50%
· Tahani Hassan Ali Al Aali 50%
Activities: Engaged in the wholesale and retail of ladies dresses and clothing
accessories.
Import Countries: India and Turkey
International
Suppliers:
· P K M Pradree Overseas India
· Jum Jum Gadi India
· Rana Gill India
· Vizon India
· Alfa Beta Turkey
·
Romana Turkey
Operating Trend: Steady
Subject has a workforce of 6 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
1,010,000 BD
1,045,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
· Gulf International
Bank BSC
Al Dowali
Building
3 Palace
Avenue
PO Box: 1017
Manama
Tel:
(973-17) 534000 / 534300 / 530030
Fax:
(973-17) 522633 / 522530 / 522629
No complaints regarding subject’s payments have been reported.
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.62.99 |
|
|
1 |
Rs.104.61 |
|
Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.