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Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AL MADAR GENERAL TRADING EST |
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Registered Office : |
Salmabad Industrial
Area, Ground Floor, Building No. 7, Road No. 8, P O Box 15268, Salmabad 704 |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.01.1994 |
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Com. Reg. No.: |
31008-1 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer and distributor of pipes, valves, instrumentation, and waste water treatment systems. Subject’s products include, fluid transfer products, such as pipes, storage tanks, flow meters, couplings and flange adaptors, as well as building materials, actuators, control panels, variable frequency drivers, sewerage treatment products and oil and gas equipment. |
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No of Employees : |
10 |
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
|
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 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 Bahrain
experienced economic setbacks as a result of domestic unrest, however, the
economy is recovered in 2012-13, partly as a result of improved tourism.
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 |
Concern Name : AL MADAR GENERAL TRADING EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 14th January 1994
Commercial Registration Number : 31008-1
Chamber Membership Number : 2716
Invested Capital : BD 20,000
Total Workforce : 10
Activities : Import and distribution of pipes, valves, instrumentation, and waste
water treatment systems
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL MADAR GENERAL
TRADING EST
Registered &
Physical Address
Location : Salmabad Industrial Area, Ground
Floor, Building No. 7, Road No. 8
PO Box : 15268
Town : Salmabad 704
Country : Bahrain
Telephone : (973-17) 877377
Facsimile : (973-17) 877366
Mobile : (973-39) 610610
Email : almadar@batelco.com.bh
Premises
Subject operates
from a small suite of offices, a warehouse and a workshop that are rented and located
in the Industrial Area of Salmabad.
Name Position
·
Abdulrahim Mohamed Ali Mahmood Proprietor
& General Manager
·
Clements Vinayak Assistant
General Manager
·
Anthony Diaf Finance
Manager
·
Ameen
Mohamed Sales
Manager
·
Vijay
Kulkarani Marketing
Manager
Date of Establishment : 14th
January 1994
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 31008-1
Chamber Member No. : 2716
Invested Capital
: BD 20,000
Mr. Abdulrahim Mohamed Ali Mahmood is the sole
proprietor of the business.
·
Zohal
Constructions Company WLL
Manama
·
Madar
Technical Services (MTS)
Manama
Activities: Engaged in the import and distribution of
pipes, valves, instrumentation, and waste water treatment
systems. Subject’s products include, fluid
transfer products, such as pipes, storage tanks, flow meters,
couplings and flange
adaptors, as well as building materials, actuators, control panels, variable
frequency drivers, sewerage
treatment products and oil and gas equipment.
Import
Countries: India, China,
Japan and the United Kingdom
International Suppliers:
·
Erhard
Armaturen Germany
·
TBS
Soest BV Netherlands
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Zy Tech
Global Industries United
States of America
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Netzsch
Mohnopumpen GmbH Germany
·
Auma
Werner Reister GmbH & Co KG Germany
·
George
Fischer Switzerland
·
Tes
Nantaise de Eaux France
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Cla Val United
States of America
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Forge
Weld Engineering (Pty) Ltd South
Africa
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Hyper
Industries India
·
Winters
Instruments Canada
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Cadar
Ltd United
Kingdom
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Qingdao
Automobile I/E Corp China
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Extra
Co United
Arab Emirates
·
Herborner
Pumpen Germany
·
Arpol
International Spain
·
De
Lange Plastic Linings BV Netherlands
·
AMR
Pipelines Products Co United
Kingdom
·
Klamflex South
Africa
·
Vacon
AC Drives Finland
·
Nivus Germany
Operating Trend: Steady
Subject has a
workforce of 10 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 1,635,000 BD 1,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Standard
Chartered Bank
Standard Chartered Bank Building
Government Road
PO Box: 29
Manama
Bahrain
Tel: (973-17) 223636 / 255946
Fax: (973-17) 230503
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
concern is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.14 |
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|
1 |
Rs.99.02 |
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Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
-- |
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.