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Report No. : |
336000 |
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Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
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Name : |
JALAL AL AALI AND
SONS CO BSCC |
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Registered Office : |
Office No. 45,
Flat No. 102, Building No. 681, Block No. 436, Street No. 3615, P O Box:
60015, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
07.10.2010 |
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Com. Reg. No.: |
76312-1 |
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Legal Form : |
Bahraini Shareholding Company Closed BSC (C) |
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Line of Business : |
· Subject is engaged as civil, infrastructure, mechanical and electrical contractors. · Subject is also involved in property development services. |
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No. of Employees : |
200 |
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) |
|
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 : JALAL AL
AALI AND SONS CO BSCC
Country of Origin : Bahrain
Legal Form :
Bahraini Shareholding Company Closed BSC (C)
Registration Date : 7th
October 2010
Commercial
Registration Number : 76312-1
Issued Capital : BD
5,000,000
Paid up Capital : BD
5,000,000
Total Workforce : 200
Activities :
Civil, infrastructure, mechanical and electrical contractors
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
JALAL AL AALI AND
SONS CO BSCC
Building : Office No. 45, Flat No. 102,
Building No. 681, Block No. 436
Street : Street No. 3615
PO Box : 60015
Town : Manama
Country : Bahrain
Telephone : (973-17) 581777
Facsimile : (973-17) 587772
Email : info@bdojawadhabib.com / jasco@jascobh.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Manama.
Name Position
·
Jalal
Ahmed Mansoor Al Aali Managing
Director
·
Eman
Abdulaziz Mansoor Al Aali Director
Date of Establishment : 7th
October 2010
Legal Form :
Bahraini Shareholding
Company Closed BSC (C)
Commercial Reg. No. : 76312-1
Issued Capital : BD 5,000,000
Paid up Capital : BD 5,000,000
·
Jalal
Ahmed Mansoor Al Aali 60%
·
Eman
Abdulaziz Mansoor Al Aali 40%
Activities: Engaged as civil, infrastructure, mechanical
and electrical contractors. Subject is also involved in property development
services.
Subject has a
workforce of 200 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.
·
Habib
Bank
Government Avenue
PO Box: 566
Manama
Tel: (973-17) 254889 / 273285
Fax: (973-17) 276685
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.63.76 |
|
|
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.80 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.