|
Report No. : |
309390 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
CROWN INDUSTRIES WLL |
|
|
|
|
Registered Office : |
Block 951, Road No. 5141, Building No. 01577, 11101 &
1410, Manama |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Date of Incorporation : |
10.08.1997 |
|
|
|
|
Com. Reg. No.: |
38885-1 |
|
|
|
|
Legal Form : |
With Limited Liability |
|
|
|
|
Line of Business : |
Subject is engaged in the smelting and
recycling of all ferrous and non ferrous metals and plastics,
aluminium alloys, steel scrap, copper, shredded steel, lead, transformer oil,
plastic granules, pellets, prime aluminium. |
|
|
|
|
No. of Employee : |
450 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 2012, petroleum production and refining accounted for 77% of Bahrain's export receipts, 87% of government revenues, and 19% of GDP. Other major economic activities are production of aluminum - Bahrain's second biggest export after oil - finance, and construction. Bahrain competes with Malaysia as a worldwide center for Islamic banking and 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 2012-13, partly as a result of improved tourism. Some economic policies aimed at restoring confidence in Bahrain's economy, such as the suspension of an expatriate labor tax and frequent bailouts of Gulf Air, will make Bahrain's long-term economic challenges - youth unemployment and the growth of government debt - more difficult to address.
|
Source
: CIA |
Company Name : CROWN INDUSTRIES
WLL
Also Known As :
CROWN INDUSTRIES RECYCLERS OF SCRAP METALS AND PLASTIC WLL
Country of Origin :
Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date :
10th August 1997
Commercial Registration Number :
38885-1, Manama
Chamber Membership Number :
7473
Issued Capital :
BD 600,000
Paid up Capital :
BD 600,000
Total Workforce :
450
Activities :
Smelting and recycling of aluminium and scrap
metal.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Ram Chandran, Purchase Manager
CROWN INDUSTRIES
WLL
ALSO KNOWN AS: CROWN INDUSTRIES
RECYCLERS OF SCRAP METALS AND PLASTIC WLL
Location : Block 951, Road No. 5141, Building No. 01577
PO Box : 11101 &
1410
Town : Manama
Country : Bahrain
Telephone : (973-17) 830038
/ 830733
Facsimile : (973-17)
830379 / 830074
Mobile : (973-39)
403165 / 653700
Email : crownmet@batelco.com.bh
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Manama.
Name Nationality Position
· Abdulrahman
Ali Al Saad
Bahraini Managing
Director
· Khalid
Abdulrasool Mohamed Taher Al Sharif
Bahraini Director
· Ghassan
Ibrahim Ali Al Sabbagh
Bahraini Director
· Faisal
Ali Matrook Al Matrook
Bahraini Director
· Jameel
Ali Matrook Al Matrook
Bahraini Director
· Fareed
Yousef Khalil Al Moayad
Bahraini Director
· Don Rajendran - Sales
Manager
· G P Thiyaga Rajan - Operations
Manager
· Maya Anil - Chief
Financial Officer
· Ram Chandran - Purchase
Manager
Date of
Establishment : 10th
August 1997
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 38885-1, Manama
Chamber Member No. : 7473
Issued Capital : BD 600,000
Paid up Capital : BD 600,000
· Over Land Trading
Co WLL 14.29%
· Abdulrahman
Ali Al Saad 14.28%
· Khalid
Abdulrasool Mohamed Taher Al Sharif 14.28%
· Ghassan
Ibrahim Ali Al Sabbagh 14.28%
· United Commercial
Services 14.28%
· Faisal
Ali Matrook Al Matrook 9.55%
· Jameel
Ali Matrook Al Matrook 9.52%
· Fareed
Yousef Khalil Al Moayad 9.52%
· Bahrain Industrial
Group Co BSC (C)
Manama
· Sarat Tower WLL
Manama
· Lona Real Estate
BSC Closed
Manama
Activities: Engaged in the smelting and recycling of
all ferrous and non ferrous metals and plastics, aluminium alloys, steel
scrap, copper, shredded steel, lead, transformer oil, plastic granules,
pellets, prime aluminium.
Import Countries: United Kingdom, Australia and India
Local Suppliers:
· Bahrain Aluminium Extrusion
· Arab Shipbuilder & Repair Yard
· Aluminium Bahrain BSC
Export Countries: India, Pakistan, Sri Lanka, China, Taiwan, UAE,
Japan, Indonesia and Singapore.
Operating Trend: Steady
Subject has a workforce of approximately 450 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
7,050,000 BD 8,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Ram Chandran, Purchase Manager
·
Al Ahli Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17)
244333
Fax: (973-17)
241301
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.62.28 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.