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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
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Name : |
YUSUF YAQOOB
YUSUF EST |
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Registered Office : |
Complex No. 314, Shop
No. 13, Road No. 14, Central Market 20036, Manama 314 |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.09.1971 |
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Com. Reg. No.: |
1287-1, Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of general foodstuffs and beverages as well as household
products. |
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No. of Employees |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
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 : YUSUF YAQOOB YUSUF EST
Country of Origin : Bahrain
Legal Form : Sole
Proprietorship
Registration Date : 15th
September 1971
Commercial
Registration Number : 1287-1,
Chamber Membership
Number : 1192
Invested Capital : BD 50,000
Total Workforce : 5
Activities :
Wholesalers and retailers of general foodstuff and beverages as well as
household products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ameen Yusuf
Yaqoob Yusuf, Assistant General Manager
YUSUF YAQOOB YUSUF
EST
Building : Complex No. 314, Shop No. 13
Street : Road No. 14
Area : Central Market
PO Box : 20036
Town : Manama 314
Country : Bahrain
Telephone : (973-17) 272574 / 254468
Facsimile : (973-17) 273093
Mobile : (973-39) 699989 / 666627
Please note that
subject’s previous address was, Lulu Center, 1st Floor, Central
Market, Manama.
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
·
Yusuf
Yaqoob Yusuf Proprietor
& General Manager
·
Ameen
Yusuf Yaqoob Yusuf Assistant
General Manager
Date of Establishment : 15th
September 1971
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1287-1,
Manama
Chamber Member No. : 1192
Invested Capital
: BD 50,000
Mr Yusuf Yaqoob Yusuf
is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of
general foodstuffs and beverages as well as household products.
Import
Countries: Sri Lanka, India
and Europe
International
Suppliers:
·
Poona Export
Ltd India
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 710,000 BD 760,000
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
·
National
Bank of Bahrain BSC
Government Road
PO Box: 106
Manama
Tel: (973-17) 258800
Fax: (973-17) 263876
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.59.72 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
PDT |
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 |
|
|
-- |
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.