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Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
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Name : |
AUMA ACTUATORS MIDDLE EAST WLL |
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Registered Office : |
No. 84 Business Bay
Building No. 1260, Road 2421 Sheikh Duaij Avenue, Block 324, 15286 Adliya |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.11.2008 |
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Com. Reg. No.: |
70426-1 |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Engaged in the
import and distribution of electrical and electronic appliances, light mobile
plant engines, pumps, valves and 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Bahrain |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 : AUMA ACTUATORS MIDDLE
Country of Origin : Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date : 19th
November 2008
Commercial Registration
Number : 70426-1
Issued Capital : BD
20,000
Paid up Capital : BD
20,000
Total Workforce : 10
Activities :
Distributors of electrical and electronic appliances, light mobile plant
engines, pumps, valves and
accessories
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AUMA ACTUATORS
MIDDLE EAST WLL
Building : No. 84 Business Bay Building No.
1260
Street : Road 2421 Sheikh Duaij Avenue
Area : Block 324
PO Box : 15286
Town : Adliya
Country : Bahrain
Telephone : (973-17) 896585
Facsimile : (973-17) 877966
Mobile : (973-39) 610610
Email : zohalcc@batelco.com.bh / salesme@auma.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Adliya.
Name Nationality Position
·
Abdulrahim
Mohamed Ali Mahmoud Bahraini Managing
Director
·
Ferdinand
Maria Dirnhofer German Director
·
Mathias
Paul Dinse German Director
Date of Establishment : 19th
November 2008
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 70426-1
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
·
Auma
Actuators Inc 75%
United States of America
·
Abdulrahim
Mohamed Ali Mahmoud 25%
Activities: Engaged in the import and distribution of
electrical and electronic appliances, light mobile plant engines, pumps, valves
and accessories.
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 sales BD 1,880,000 BD 2,075,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
116 Osama Bin Zaid Road
PO Box: 57
Adliya
Tel: (973-17) 712638 / 712228
Fax: (973-17) 713696
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 company is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.