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Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
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Name : |
LEADING TRADING EST |
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Registered Office : |
Building No. 658, Block No. 616 Umm Al Saad Avenue PO Box 29220 Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
02.09.2013 |
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Com. Reg. No.: |
464761-2, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of medical supplies, heavy
equipment, bearings and spare parts. |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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 |
Company Name : LEADING TRADING EST
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Registration Date : 2nd September 2013
Commercial Registration Number : 464761-2, Manama
Invested Capital : BD 5,000
Total Workforce : 4
Activities : Distributors of medical supplies, heavy equipment, bearings and spare parts
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Shahid Majeed Abdul Majeed Baksh, Proprietor & General Manager
LEADING TRADING EST
Building :
Building No. 658, Block No. 616
Street : Umm Al Saad
Avenue
PO Box : 29220
Town : Manama
Country : Bahrain
Telephone : (973-17) 210973
Facsimile : (973-17)
210973
Mobile : (973-39)
247674
Email : ssmaed@batelco.com.bh
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Manama.
Name Position
· Shahid Majeed
Abdul Majeed Baksh Proprietor
& General Manager
Date of
Establishment : 2nd
September 2013
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 464761-2, Manama
Invested Capital : BD 5,000
Mr Shahid Majeed Abdul Majeed Baksh is the sole proprietor of the
business.
Activities: Engaged in the import and distribution of medical supplies, heavy equipment,
bearings and spare parts.
Import Countries: United Kingdom, United States of America, Sweden,
Japan and Malaysia.
International Suppliers:
· Inter Surgical United Kingdom
· KPM Malaysia
· Johnson &
Johnson United States of
America
· SKF Sweden
· Mitsoboshi Belts Japan
Subject has a workforce of 4 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Bank Melli Iran
Government Avenue
PO Box: 785
Manama
Tel: (973-17)
259910 / 224368
Fax: (973-17)
224402
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.13 |
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|
1 |
Rs.101.17 |
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Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
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 |
-- |
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.