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Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
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Name : |
AL MATTAR METAL WORK |
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Registered Office : |
Industrial Area,
P O Box 28665, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.10.1988 |
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Com. Reg. No.: |
11918-6 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the provision
of blacksmith services and metal fabrication. |
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No. of Employees |
05 |
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
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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.
|
Source : CIA |
Concern Name : AL MATTAR METAL WORK
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 27th October 1988
Commercial Registration Number : 11918-6
Invested Capital : BD 100,000
Total Workforce : 5
Activities : Providers of blacksmith services and metal fabrication
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL MATTAR METAL
WORK
Registered &
Physical Address
Location : Industrial Area
PO Box : 28665
Town : Manama
Country : Bahrain
Facsimile : (973-17) 602010
Mobile : (973-39) 676744
Premises
Subject operates
from a small suite of offices and a workshop that are rented and located in the
Industrial Area of Manama.
Name Nationality Position
·
Najeeb
Abdullah Saleh Matar Bahraini Proprietor
·
Saleh
Matar - General
Manager
·
Abdullah
Matar - Sales
Manager
Date of Establishment : 27th
October 1988
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 11918-6
Invested Capital
: BD 100,000
Mr. Najeeb Abdullah
Saleh Matar is the sole proprietor of the business.
Activities: Engaged in the provision of blacksmith
services and metal fabrication.
Operating Trend: Steady
Subject has a
workforce of 5 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 815,000 BD 840,000
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.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
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.