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Report No. : |
336466 |
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Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
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Name : |
MULTI TRADE |
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Registered Office : |
Lulu Road , PO Box 40426, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.10.2001 |
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Com. Reg. No.: |
47737-1 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of plumbing products, hardware products, building material products, safety products, electrical products, lighting, house hold detergents, dish washing liquids, air fresheners, floor cleaners, cloths washing powders, hand liquid soaps, toilet cleaners, glass window cleaners, brass glands, copper lugs, copper earth rods & accessories, pipe clamps, beam clamps, gi water pipes & fittings, dmc insulators, gi conduit accessories, brass screws & hinges, brass battery terminals, brass products, and copper tapes. |
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No. of Employees : |
7 |
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
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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 :
MULTI TRADE
Country of Origin :
Bahrain
Legal Form :
Sole Proprietorship
Registration Date :
27th October 2001
Commercial Registration Number :
47737-1
Chamber Membership Number :
10340
Invested Capital :
BD 10,000
Total Workforce : 7
Activities :
Import and distribution of plumbing products, hardware products,
building material products, safety products,
electrical products, lighting,
house hold products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
MULTI TRADE
Registered &
Physical Address
Location : Lulu Road
PO Box : 40426
Town : Manama
Country : Bahrain
Telephone : (973-17) 257300
Facsimile : (973-17)
257300
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Manama.
Name Position
Nawal Fardan Ali Fardan Proprietor
& General Manager
Ismail Abobacker Assistant
General Manager
Date of Establishment : 27th
October 2001
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 47737-1
Chamber Member No. : 10340
Invested Capital : BD 10,000
Mr Nawal Fardan Ali Fardan is the sole proprietor of the business.
Activities: Engaged in the import and distribution of plumbing products, hardware
products, building material
products, safety products, electrical
products, lighting, house hold detergents, dish washing liquids, air fresheners, floor cleaners, cloths washing
powders, hand liquid soaps, toilet cleaners, glass window cleaners, brass glands, copper lugs,
copper earth rods & accessories, pipe clamps, beam clamps, gi water pipes & fittings, dmc
insulators, gi conduit accessories, brass screws & hinges, brass battery terminals, brass products, and copper
tapes.
Import Countries: India and China
Operating Trend: Steady
Subject has a workforce of 7 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
1,050,000 BD
1,125,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Bank of Bahrain & Kuwait
43 Government Avenue
PO Box: 597
Manama
Tel: (973-17) 253388
Fax: (973-17) 275785
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.76 |
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1 |
Rs.98.76 |
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Euro |
1 |
Rs.69.88 |
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.