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Report No. : |
335243 |
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Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
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Name : |
RETAIL GLOBAL FASHION WLL |
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Registered Office : |
Building No. 13, Store No. 11, Avenue 56, Block 756, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
09.02.1994 |
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Com. Reg. No.: |
31325-1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the import and distribution of telecommunication equipment,
readymade garments, textiles and home decoration products. |
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No. of Employees : |
20 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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.
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Source
: CIA |
Company Name :
RETAIL GLOBAL FASHION WLL
Country of Origin :
Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date :
9th February 1994
Commercial Registration Number :
31325-1
Chamber Membership Number :
4832
Issued Capital :
BD 200,000
Paid up Capital :
BD 200,000
Total Workforce :
20
Activities :
Distributors of telecommunication equipment, readymade garments,
textiles and home decoration products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
RETAIL GLOBAL FASHION WLL
Registered &
Physical Address
Building : Building No.
13, Store No. 11
Street : Avenue 56,
Block 756
PO Box : 3002
Town : Manama
Country : Bahrain
Telephone : (973-17) 644110
Facsimile : (973-17)
644177
Mobile : (973-39)
408277
Email : admin.bah@redtag.ae
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Manama.
Name Position
Bhurhanudeen Mohamed Bai Abdulhusain Managing
Director
Waleed Mohamed Yaqoob Kamal Director
Jain Stephan General
Manager
Lila Ghuloom Administration
Executive
Date of Establishment : 9th
February 1994
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 31325-1
Chamber Member No. : 4832
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Name of Shareholder
(s) Percentage
Bhurhanudeen Mohamed Bai Abdulhusain 90%
Waleed Mohamed Yaqoob Kamal 10%
BMA International Co
Dubai
Activities: Engaged in the import and distribution of telecommunication equipment,
readymade garments, textiles and home decoration products.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 20 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
1,215,000 BD
1,400,000
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.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
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|
1 |
Rs.99.15 |
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Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TPT |
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.