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Report No. : |
334903 |
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Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
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Name : |
HARD ROCK CAFE
BAHRAIN WLL |
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Registered Office : |
Building No. 318 142 Old Exhibition Road Hoora 2441 Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
24.09.2001 |
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Com. Reg. No.: |
47594 |
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Legal Form : |
With Limited
Liability - WLL |
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Line of Business : |
Engaged as
operators of Hard Rock Cafe restaurants in Manama. |
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No. of Employee : |
110 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Bahrain |
A2 |
A2 |
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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 2013, petroleum production and refining accounted for 73% of Bahrain's export receipts, 88% of government revenues, and 21% of GDP. Other major economic activities are production of aluminum - Bahrain's second biggest export after oil - finance, and construction. Bahrain 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 2012-14, partly as a result of improved tourism. Lower oil prices in 2015 will likely exacerbate Bahrain’s budget deficit.
|
Source
: CIA |
Company Name : HARD ROCK
CAFE BAHRAIN WLL
Country of Origin : Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date : 24th
September 2001
Commercial
Registration Number : 47594
Chamber Membership
Number : 16329
Issued Capital : BD
20,000
Paid up Capital : BD 20,000
Total Workforce :
110
Activities :
Operators of Hard Rock Cafe restaurants.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
HARD ROCK CAFE
BAHRAIN WLL
Building : Building No. 318
Street : 142 Old Exhibition Road
Area : Hoora
PO Box : 2441
Town : Manama
Country : Bahrain
Telephone : (973-17) 291569
Facsimile : (973-17) 296561
Mobile : (973-39) 655453
Email : hardrock@batelco.combh
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Manama.
Name Nationality Position
·
Sayed
Ebrahim Mohamed Ali Alhaidary American Managing Director
·
Khaled
Abdulaziz Ali Alahmed Bahraini
Director
Date of Establishment : 24th
September 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 47594
Chamber Member No. : 16329
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
·
Khaled
Abdulaziz Ali Alahmed 50%
·
Hard
Rock Cafe Middle East Inc 49%
Cayman Islands
·
Sayed
Ebrahim Mohamed Ali Alhaidary 1%
Activities: Engaged as operators of Hard Rock Cafe
restaurants in Manama.
Subject has a
workforce of 110 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.
·
Bank
Melli Iran
Government Avenue
PO Box: 785
Manama
Tel: (973-17) 259910 / 224368
Fax: (973-17) 224402
No complaints
regarding subject’s payments have been reported.
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.63.93 |
|
|
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
ANK |
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 |
|
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.