MIRA INFORM REPORT

 

 

Report No. :

335837

Report Date :

11.08.2015

 

 

 

 

Tel No.:

00973 17226616

Fax No.:

00973 17217317

 

NOTE: Correct name of the subject is “MOHAMED ALI ZAINAL ABDULLAH BSC (C) (MAZA)”

 

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED ALI ZAINAL ABDULLAH BSC (C) (MAZA)

 

 

Registered Office :

Manama Centre, Maza Building, Al Mutanabi Street No. 58, Block 304, P O Box: 593, Manama 304

 

 

Country :

Bahrain

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

1930, however subject was registered on 19th January 1980.

 

 

Com. Reg. No.:

83-1, Manama

 

 

Legal Form :

Bahraini Shareholding Company Closed BSC (C)

 

 

Line of Business :

Import and Distribution of Fast Moving Consumable Goods and General Foodstuffs.

 

 

No. of Employees :

150

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

 

 

SUMMARY

 

Company Name                                    : MOHAMED ALI ZAINAL ABDULLAH BSC (C) (MAZA)

Country of Origin                                   : Bahrain

Legal Form                                           : Bahraini Shareholding Company Closed BSC (C)

Start Date                                             : 1930

Registration Date                                  : 19th January 1980

Commercial Registration Number           : 83-1, Manama

Issued Capital                                       : BD 2,500,000

Paid up Capital                                     : BD 2,500,000

Total Workforce                                                : 150

Activities                                               : Distributors of fast moving consumable goods and general foodstuffs.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                : Sami Mohamed Sharif Zainal, Commercial Manager

 

 

COMPANY NAME

 

MOHAMED ALI ZAINAL ABDULLAH BSC (C) (MAZA)

 

 

ADDRESS

 

Registered & Physical Address

 

Building                        : Manama Centre, Maza Building

Street               : Al Mutanabi Street No. 58, Block 304

 

PO Box                        : 593

 

Town                : Manama 304

Country             : Bahrain

 

Telephone         : (973-17) 226616

Facsimile          : (973-17) 226636 / 217317

Mobile              : (973-39) 440095

Email                : zinal@batelco.com.bh / zainal@maza.com / sami@maza.com

 

Please note that the correct address is listed above. Mega Building 58, Al Mutamabi Avenue is incorrect.

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are owned and located in the Central Business Area of Manama.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ebrahim Mohamed Ali Zainal Karmastaji                                            Managing Director

 

·       Fatima Mohamed Ali Zainal Karmastaji                                               Director

 

·       Asma Mohamed Ali Zainal Karmastaji                                                Director

 

·       Mohamed Ebhrahim Zainal                                                                Finance Manager

 

·       Sami Mohamed Sharif Zainal                                                             Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1930, however subject was registered on 19th January 1980.

 

History                         : Subject began in 1980 as a With Liability Company. However during 2012 it changed legal

  form and became a Bahraini Shareholding Company Closed BSC (C).

 

Legal Form                  : Bahraini Shareholding Company Closed BSC (C)

 

Commercial Reg. No.   : 83-1, Manama

 

Chamber Member No.  : 638

 

Issued Capital              : BD 2,500,000

 

Paid up Capital            : BD 2,500,000

 

Name of Shareholder (s)                                                        Percentage

 

·       Ebrahim Mohamed Ali Zainal Karmastaji                                            26%

 

·       Fatima Mohamed Ali Zainal Karmastaji                                               13%

 

·       Asma Mohamed Ali Zainal Karmastaji                                                13%

 

·       Faeza Abdulaziz Mohamed Tawfeeqi                                                   4%

 

·       Sami Mohamed Sharif Zainal                                                              4%

 

·       Lana Ebrahim Mohamed Ali Zainal                                                       4%

 

·       Rashad Ebrahim Mohamed Ali Zainal                                       4%

 

·       Mohamed Ebrahim Mohamed Ali Zainal                                               4%

 

·       Hesham Ebrahim Mohamed Zainal                                                       4%

 

·       Tareq Ebrahim Mohamed Zainal                                                          4%

 

·       Nader Sayed Moosa Abdulla Ali                                                          3%

 

·       Sayed Najeeb Moosa Abdulla Ali                                                        3%

 

·       Nabeel Sayed Moosa Abdulla Ali                                                        3%

 

·       Nahed Sayed Moosa Abdulla Ali                                                         3%

 

·       Suhair Mohamed Shareef Abdulrahman Zainal                                      2%

 

·       Suha Mohamed Shareef Abdulrahman Zainal                                       2%

 

·       Sana Mohamed Sharif Abdulrahman Zainal                                          2%

 

·       Seema Mohamed Shareef Abdulrahman Zainal                                     2%

 

 

AFFILIATED COMPANIES

 

·       Zainal Enterprises WLL

Manama

 

·       Maza Packaging

Manama

 

·       Life Marketing

Manama

 

·       Al Asmak BSC (C)

Manama

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of fast moving consumable goods and general foodstuffs.

 

Import Countries: Europe and GCC countries.

 

International Suppliers:

 

·       Bandait                                Brazil

·       Freezland Campina               Netherlands

·       Akzo Nobel                          Netherlands

·       Bega Ltd                              Australia

·       Princes                                United Kingdom

 

Brand Names: MAZA, PANDA, AMERICANA, NEZO, AHMAD TEA, ALICAFE, KHALEEJ, COAST, TIFFANY,

POPPINS, CHIPS OMAN, ANTAT and DURU

 

Subject has a workforce of 150 employees.

 

 

FINANCIAL DATA

 

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 12,350,000                          BD 13,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above figures were provided by Mr Sami Mohamed Sharif Zainal, Commercial Manager

 

 

BANKERS

 

·       HSBC Bank

     93 Al Khalifa Avenue

     PO Box: 57

     Manama

     Tel: (973-17) 224555

     Fax: (973-17) 226822

 

·       National Bank of Bahrain BSC

Government Road

PO Box: 106

Manama

Tel: (973-17) 258800

Fax: (973-17) 263876

 

·       Standard Chartered Bank

Government Road

PO Box: 29

Manama

Tel: (973-17) 223636

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                               March 2014

Credit amount                                       202,000

Amount overdue                                    0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                       No Complaints

Currency                                               Euros

 

 

GENERAL COMMENTS

 

Please note that the correct name of the subject is “Mohamed Ali Zainal Abdullah BSC (C) (MAZA)” and not “Mohammed Ali Abdallah”.

 

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

UK Pound

1

Rs.98.76

Euro

1

Rs.69.80

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

 

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

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.