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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ANF APPAREL KNITS WLL |
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Registered Office : |
Dar Al Ezz Building, 11th Floor, Office No. 125 Road No.
1910Block No. 319, Hoora |
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Country : |
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Date of Incorporation : |
22.06.2011 |
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Com. Reg. No.: |
78235-1, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject is engaged in the provision of brokerage services for textile
companies. |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Slow but correct |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bahrain |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 made great efforts
to diversify its economy; 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. In 2012, petroleum production and refining accounted for 77% of Bahrain's
export receipts, 87% of government revenues, and 19% 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 recovered in 2012-13, partly as a result
of improved tourism. Some 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 : ANF APPAREL KNITS WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 22nd June 2011
Commercial Registration Number : 78235-1, Manama
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 3
Activities : Providers of brokerage services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ANF APPAREL KNITS WLL
\
Building : Dar Al Ezz
Building, 11th Floor, Office No. 125
Street : Road No.
1910
Area : Block No.
319, Hoora
PO Box : 489
Town : Manama
Country : Bahrain
Telephone : (973-77) 060288
Facsimile : (973-77)
060188
Email : aquil@anfholding.com / info@anfholding.com
Subject operates from a small suite of offices that are rented and located
in the Suburban Business Area of Manama.
Name Nationality Position
· Usman Aquil Dhaduk Pakistani Managing
Director
Date of
Establishment : 22nd
June 2011
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 78235-1, Manama
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
· ANF Holding
Company WLL 50%
Manama
· Usman Aquil Dhaduk 50%
Activities: Engaged in the provision of brokerage services for textile companies.
Subject has a workforce of 3 employees.
Companies registered in Bahrain are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Bahraini Saudi Bank BSC
Al Sadah Building
Government Avenue
PO Box: 1159
Manama
Tel: (973-17) 211010
Fax: (973-17) 210989
Slow but correct
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.42 |
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|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
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.