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Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDUS COMPUTERS |
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Registered Office : |
Old Palace Road,
P O Box 11486, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.06.2010 |
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Com. Reg. No.: |
69701-2, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and distributor of computers, IT
equipment and security products. |
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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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 100,000 |
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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) |
|
Bahrain |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : INDUS COMPUTERS
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 10th June 2010
Commercial Registration Number : 69701-2, Manama
Invested Capital : BD 5,000
Total Workforce : 10
Activities : Distributors of computers, IT equipment and security products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
INDUS COMPUTERS
Registered &
Physical Address
Location : Old Palace Road
PO Box : 11486
Town : Manama
Country : Bahrain
Telephone : (973-17) 323680
Facsimile : (973-17) 323680
Mobile : (973-33) 913300
Email : indus@batelco.com.bh
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
Name Position
·
Ms
Dilani Malkanthi Charles Perrera Proprietor
·
Surjith
Narothm General
Manager
Date of Establishment : 10th
June 2010
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 69701-2,
Manama
Invested Capital
: BD 5,000
Ms. Dilani
Malkanthi Charles Perrera is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
computers, IT equipment and security products.
Import
Countries: Europe and the
Far East.
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 Revenue BD 790,000 BD 860,000
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.