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Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
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Name : |
PEACOCK CARPET CENTRE |
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Registered Office : |
Building No. 118, Block No. 327, Road No. 306, PO Box : 26863,
Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
24.04.1995 |
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Com. Reg. No.: |
33829-1,
Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject
is engaged as wholesalers and retailers of oriental rugs and oriental
carpets. |
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No. of Employees : |
18 |
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) |
|
Bahrain |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
Company Name :
PEACOCK CARPET CENTRE
Country of Origin :
Bahrain
Legal Form :
Sole Proprietorship
Registration Date :
24th April 1995
Commercial Registration Number :
33829-1, Manama
Chamber Membership Number :
5967
Invested Capital :
BD 100,000
Total Workforce : 18
Activities :
Wholesalers and
retailers of oriental rugs and oriental carpets.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Shashi Kumar, Sales Executive
PEACOCK CARPET CENTRE
Registered &
Physical Address
Building :
Building No. 118, Block No. 327
Street : Road No. 306
PO Box : 26863
Town : Manama
Country : Bahrain
Telephone : (973-17) 713152
Facsimile : (973-17) 714134 / 714548
Mobile : (973-39) 695668 / 961111 / (973-33) 853195
Email : sales@peacock-carpet.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Manama.
Please note that subject’s previous address was Peacock Building, Osama Bin Zaid
Street, Adliya, Manama.
Branch Office (s)
Location Description
Isa Town Rented
showroom premises
Tel: (973-17) 780649
Name Nationality Position
Abdulrahman
Ali Ahmed Dabwan Bahraini Proprietor & General
Manager
Mohamed
Abdulrahman Ali Ahmed Dabwan - Assistant
General Manager
Salah Abdulrahman
Ali Ahmed Dabwan - Sales
Manager
Shashi Kumar - Sales
Executive
Date of Establishment : 24th April 1995
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 33829-1,
Manama
Chamber Member No. : 5967
Invested Capital : BD 100,000
Mr Abdulrahman
Ali Ahmed Dabwan is the sole proprietor of the business.
Activities: Engaged as wholesalers and retailers
of oriental rugs and oriental carpets.
Import Countries: Iran,
India, Turkey, Pakistan and Afghanistan.
International
Suppliers:
Payal International India
Oriental Knots Pakistan
Kakassion Afghanistan
Operating Trend: Steady
Subject has a workforce of 18 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
3,120,000 BD
3,350,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Bank of Bahrain & Kuwait
43 Government Avenue
PO Box: 597
Manama
Tel: (973-17) 253388
Fax: (973-17) 275785
No complaints regarding subject’s payments have been reported.
Date of transaction June
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.