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Report No. : |
314995 |
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Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AL
MUTAWA COMMERCIAL CENTRE |
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Registered Office : |
Building No. 285, Street No. 305, Area No. 203, P O Box: 22833, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.07.2001 |
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Com. Reg. No.: |
11238,
Manama |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Imports and
Distributors of building materials, hardware and
tools, as well as carpentry products. |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Bahrain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
Company Name : AL MUTAWA COMMERCIAL CENTRE
Country of Origin : Bahrain
Legal Form :
Sole Proprietorship
Registration Date : 1st
July 2001
Commercial
Registration Number : 11238, Manama
Chamber Membership
Number : 11986
Invested Capital : BD 50,000
Total Workforce : 10
Activities :
Distributors of building materials, hardware and
tools, as well
as carpentry products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ahmed Kabir,
Accountant
AL
MUTAWA COMMERCIAL CENTRE
Building : Building No. 285
Street : Street No. 305
Area : Area No. 203
PO Box : 22833
Town : Manama
Country : Bahrain
Telephone : (973-17) 411010
Facsimile : (973-17) 414494
Mobile : (973-39) 441722
Email : mccbahrain@hotmail.com / almutawacenter@gmail.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Manama.
Branch Offices
Location Description
·
Building
No. 536 Office
premises
Road No. 3261
Block No. 236
Samaheej Area
Tel: (973-17)
471919
Fax: (973-17)
471916
Name Position
·
Hussain Abdullah Mohamed Al Mutawa Proprietor
·
Mohamed Hussain Abdullah Mohamed Al Mutawa General
Manager
·
Ayman
Al Mutawa Sales
Manager
·
Ahmed
Kabir Accountant
Date of Establishment : 1st
July 2001
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 11238, Manama
Chamber Member No. : 11986
Invested Capital
: BD 50,000
Mr Hussain Abdullah Mohamed Al Mutawa is the sole
proprietor of the business.
Activities: Engaged in the import
and distribution of building materials, hardware and tools, as well as
carpentry
products.
Subject also
offers general building contracting services.
Import
Countries: China, India,
Thailand and Turkey.
International
Suppliers:
·
Tangshan Tanjsei Tools & Hardware Manufacturing China
·
T T Enterprises India
·
Seven Star Industrial India
·
All Duty Trading Agency Thailand
·
Uplast Turkey
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 31/12/13: Year Ending
31/12/14:
Total Sales BD 715,000 BD 750,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Ahmed Kabir, Accountant
·
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.62.59 |
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|
1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
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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.