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Report No. : |
354867 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
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Name : |
JBF BAHRAIN SPC |
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Registered Office : |
Building No. 461, Road No. 1508, Hidd 115, Salman Industrial City, PO
Box: 50397, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
15.06.2011 |
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Com. Reg. No.: |
78175-1 |
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Legal Form : |
Single Person
Company – SPC |
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Line of Business : |
Subject is engaged in the manufacture of plastic and polyester film. Subject also acts as welding, blacksmith and fabrication contractors and also provides pest control services. |
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No. of Employee : |
200 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 :
JBF BAHRAIN SPC
Country of Origin :
Bahrain
Legal Form :
Single Person Company – SPC
Registration Date :
15th June 2011
Commercial Registration Number :
78175-1
Chamber Membership Number :
25386
Issued Capital :
BD 16,890,000
Paid up Capital :
BD 16,890,000
Total Workforce : 200
Activities :
Manufacturers of plastic and polyester film.
Financial Condition :
Undetermined
Payments :
Unknown
JBF BAHRAIN SPC
Building :
Building No. 461
Street : Road No.
1508
Area : Hidd 115,
Salman Industrial City
PO Box : 50397
Town : Manama
Country : Bahrain
Telephone : (973-17) 181500
Facsimile : (973-17)
181600
Email : reception@jbf-rak.ae
Subject operates from a suite of offices and a factory covering an area
of 65,000 square metres that are rented and located in the Industrial Area of
Manama.
Name Position
· Cheerag Bhagirath
Arya Managing
Director
· Vivek Shah Marketing
Manager
· Yogesh Sani Accounts
Manager
Date of
Establishment : 15th
June 2011
Legal Form : Single Person
Company – SPC
Commercial Reg.
No. : 78175-1
Chamber Member No. : 25386
Issued Capital : BD 16,890,000
Paid up Capital : BD 16,890,000
· JBF RAK LLC 100%
Al Jazera Al Hamra Area
PO Box: 6574
Ras Al Khaimah
United Arab Emirates
Tel: (971-7) 2447269
/ 2447289
Fax: (971-7) 2447202
/ 2447279 / 2446620
Activities:
Engaged in the manufacture of plastic and polyester film. Subject also acts as welding, blacksmith and fabrication contractors and also provides pest control services.
The first phase of production has commenced with
manufacturing of thin BOPET films from Line 5 purchased from Dornier, Germany,
is the only one of its kind in the world producing thickness ranging from 8
Micron to 125 Micron. Providing deckle width of 8.7 meters integrated with
single side corona treatment and coating capabilities, this line has 3 layers
of co extrusion and slitting technology from Atlas resulting into a Max Slit
Width of 3300 mm.
Second phase scheduled to commence in first quarter of 2014 with Line 6, will
produce think BOPET films ranging
from 36 Micron to 250 Micron. This state of the art structure will be capable
of delivering deckle width of 6.0 meters. Line 6 will be equipped with the most
recent dual side corona treatment along with single sided coater technology on
BOPET films. Resulting into a Max Slit Width of 3300 mm from primary slitter of
Atlas, this line will have 3 layers of co extrusion.
The stage of completion will be marked by the commencement of the third phase of JBF Bahrain’s Line 7 in 2014. In a specially built clean room facility, Line 7 from Dornier, Germany, bearing resemblance of Line 5 will be producing thickness ranging from 8 Micron to 125 Micron. Providing deckle width of 8.7 meters integrated with single side corona treatment and coating capabilities, this line will also have 3 layers of co extrusion and slitting technology from Atlas resulting into a Max Slit Width of 3300 mm.
Production
Capacity: 90,000 million tonnes per year
Import Countries: Europe and the Far East.
Subject has a workforce of approximately 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.
·
Bank of Bahrain & Kuwait
43 Government
Avenue
PO Box: 597
Manama
Tel: (973-17)
253388
Fax: (973-17)
275785
Unknown
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.66.32 |
|
|
1 |
Rs.98.99 |
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Euro |
1 |
Rs.72.13 |
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BHD |
1 |
Rs. 175.82 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
-- |
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.