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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
DAHLMAN MIDDLE |
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Registered Office : |
Building No. 404, Road No. 4112, Block No. 941, PO Box 39179, East
Riffa |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.07.2008 |
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Com. Reg. No.: |
69275-1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the manufacture of air filters and water and
welded profile wire screens. Subject is also involved in the provision of
industrial maintenance works. |
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No of Employees : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bahrain |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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 :
DAHLMAN MIDDLE
Country of Origin :
Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date :
10th July 2008
Commercial Registration Number :
69275-1
Chamber Membership Number :
23209
Issued Capital :
BD 20,000
Paid up Capital :
BD 20,000
Total Workforce :
60
Activities :
Manufacturers of air filters and water and welded profile wire screens
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
DAHLMAN MIDDLE EAST WLL
Registered &
Physical Address
Building : Building No.
404
Street : Road No.
4112
Area : Block No.
941
PO Box : 39179
Town : East Riffa
Country : Bahrain
Telephone : (973-17) 627631
/ 627630
Facsimile : (973-17)
627631
Mobile : (973-39)
324633
Email : herman@dahlman.com.bh
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of East Riffa.
Name Nationality Position
Zweitse Tjeerd Moes Dutch Managing
Director
Frank Egas Dutch Director
Date of Establishment : 10th
July 2008
Legal Form :
With
Limited Liability - WLL
Commercial Reg. No. : 69275-1
Chamber Member No. : 23209
Issued Capital : BD 20,000
Paid up Capital :
BD
20,000
Name of
Shareholder (s) Percentage
Dahlman International BV 90%
Netherlands
Zweitse Tjeerd Moes 10%
Activities: Engaged in the manufacture of air filters and water and welded profile
wire screens. Subject is also involved in the provision of industrial
maintenance works.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 60 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
1,900,000 BD
2,180,000
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
93 Al Khalifa Avenue
PO Box: 57
Manama 304
Tel: (973-17) 224555 / 222158
Fax: (973-17) 226822
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.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
<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.