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Report No. : |
352077 |
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Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
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Name : |
BAHRAIN
SCRAPMOULD CO WLL |
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Registered Office : |
Building No. 1546, Block No. 951, Road No. 2831, P O Box: 11177, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
17.11.2001 |
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Com. Reg. No.: |
47846-1, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and
Distribution of Ferrous and Non-Ferrous Scrap Metals. |
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No. of Employees : |
50 |
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 |
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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.
|
Source
: CIA |
Company Name : BAHRAIN SCRAPMOULD CO WLL
Country of Origin : Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date : 17th
November 2001
Commercial
Registration Number : 47846-1, Manama
Chamber Membership
Number : 10984
Issued Capital : BD
200,000
Paid up Capital : BD
200,000
Total Workforce : 50
Activities :
Distributors of ferrous and non-ferrous scrap metals.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Raj Kumar,
Financial Controller
BAHRAIN SCRAPMOULD
CO WLL
Building : Building No. 1546,
Block No. 951
Street : Road No. 2831
PO Box : 11177
Town : Manama
Country : Bahrain
Telephone : (973-17) 830448
Facsimile : (973-17) 830215
Email : scrapmou@batelco.com.bh
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Manama.
Name Position
·
Ali
Abdulrahman Ali Al Saad Managing
Director
·
Abdulrahman Ali Ali Alsaad Director
·
Khaled Abdulrasool Mohamed Taher Al Sharif Director
·
Ghassan Ebrahim Ali Alsabbagh Director
·
Faisal Ali Matrook Almatrook Director
·
Fareed Yusuf Khalil Almoayyed Director
·
Jameel Ali Matrook Almatrook Director
·
Derrik
Mascarhans General
Manager
·
Raj
Kumar Financial
Controller
Date of Establishment : 17th
November 2001
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 47846-1,
Manama
Chamber Member No. : 10984
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
·
Heirs
of the late Ali Paul Eric Birch 14.3%
·
Abdulrahman Ali Ali Alsaad 14.3%
·
Khaled Abdulrasool Mohamed Taher Al Sharif 14.3%
·
Ghassan Ebrahim Ali Alsabbagh 14.3%
·
United
Commercial Services 14.3%
·
Faisal Ali Matrook Almatrook 9.5%
·
Fareed Yusuf Khalil Almoayyed 9.5%
·
Jameel Ali Matrook Almatrook 9.5%
·
Crown
Industries Co
Manama
Activities: Engaged in the import and distribution of
ferrous and non-ferrous scrap metals.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 50 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 5,720,000 BD
6,195,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
British
Bank of the Middle East
93 Al Khalifa Avenue
PO Box: 57
Manama
Tel: (973-17) 224555
Fax: (973-17) 226822
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.66.81 |
|
|
1 |
Rs.100.37 |
|
Euro |
1 |
Rs.70.68 |
|
BD |
1 |
Rs.176.37 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
NIT |
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.