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Report Date : |
26.07.2014 |
IDENTIFICATION DETAILS
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Name : |
AURIONPRO SOLUTIONS SPC |
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Registered Office : |
Office No. 142, Block No. 305 Road |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
21.03.2006 |
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Com. Reg. No.: |
60228-1 |
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Legal Form : |
Single Person Company – SPC |
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Line of Business : |
Engaged as computer hardware and software consultants, specialising in
wiring for computer communication network |
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No. of Employees |
07 |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 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 |
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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
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Source
: CIA |
Company Name : AURIONPRO SOLUTIONS SPC
Country of Origin : Bahrain
Legal Form : Single Person Company – SPC
Registration Date : 21st March 2006
Commercial Registration Number : 60228-1
Chamber Membership Number : 8126
Issued Capital : BD 1,500,000
Paid up Capital : BD 1,500,000
Total Workforce : 7
Activities : Computer hardware and software consultants
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AURIONPRO SOLUTIONS SPC
Building : Office No.
142, Block No. 305
Street : Road No.
383-31
PO Box : 11490
Town : Manama
Country : Bahrain
Telephone : (973-17) 555995
/ 217991
Facsimile : (973-17)
217992 / 276711
Mobile : (973-39)
667436
Email : ranjit@aurionpro.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Manama.
Name Nationality Position
· Amit Rameshchandra
Sheth Indian Managing
Director
Date of
Establishment : 21st
March 2006
Legal Form : Single Person
Company – SPC
Commercial Reg.
No. : 60228-1
Chamber Member No. : 8126
Issued Capital : BD 1,500,000
Paid up Capital : BD 1,500,000
· Amit Rameshchandra
Sheth 100%
Activities: Engaged as computer hardware and software consultants, specialising in
wiring for computer
communication networks.
Subject has a workforce of 7 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
1,000,000 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.
·
Al Ahli Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17)
244333
Fax: (973-17)
241301
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.14 |
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|
1 |
Rs.102.22 |
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Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
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.