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Report Date : |
01.03.2014 |
IDENTIFICATION DETAILS
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Name : |
ENTIFADHA BUILDING MATERIALS |
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Registered Office : |
Building No. 60,
Road No. 51, Block 205, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.11.1989 |
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Com. Reg. No.: |
9826-5, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
importer and distributor of building materials and
electrical accessories. |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 |
Concern Name :
ENTIFADHA BUILDING MATERIALS
Country of Origin : Bahrain
Legal Form :
Sole Proprietorship
Registration Date : 9th
November 1989
Commercial
Registration Number : 9826-5,
Manama
Chamber Membership
Number : 10932
Invested Capital : BD 60,000
Total Workforce : 10
Activities :
Distributors of building materials and electrical accessories.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tinto K Jose, Sales Executive
ENTIFADHA BUILDING
MATERIALS
Registered & Physical Address
Location : Building No. 60, Road No. 51,
Block 205
PO Box : 50320
Town : Hidd
Country : Bahrain
Telephone : (973-17) 675866 / 673834 / 671031
Facsimile : (973-17) 324429 / 673834
Email : entifadha@batelco.com.bh
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Hidd.
Branch Offices
Location Description
·
Sheikh Issa Avenue Office premises
Muharraq Area
Tel: (973-17)
324233
Fax: (973-17)
324429
·
Galali Area Office
premises
Tel: (973-17)
673874
Name Position
·
Mohamed
Yousef Abdulrahman Al Shamlan Proprietor
& General Manager
·
Johnson Thomas Assistant
General Manager
· Tinto K Jose Sales Executive
·
C J Rajesh Accountant
Date of Establishment : 9th
November 1989
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 9826-5,
Manama
Chamber Member No. : 10932
Invested Capital
: BD 60,000
Mr. Mohamed Yousef Abdulrahman Al Shamlan is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
building materials and electrical accessories.
Import
Countries: India, China and
the United Arab Emirates.
International Suppliers:
·
CRI Pumps Ltd United
Arab Emirates
·
Yonda Ceramic China
·
Cera Ceramic India
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 1,800,000 BD 1,845,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bahrain
Islamic Bank
PO Box: 5240
Manama
Tel: (973-17) 231402
Fax: (973-17) 275734
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 business
is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.07 |
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|
1 |
Rs.103.61 |
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Euro |
1 |
Rs.85.03 |
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.