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Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
NARAIURAN CONTROL
SYSTEMS ME WLL |
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|
|
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Registered Office : |
Building No.
2298, Shop G, Road No. 0439, Area No. 0704, P O Box 75640, Salmabad |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2013 (Estimated) |
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Date of Incorporation : |
03.07.2007 |
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Com. Reg. No.: |
65798-1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged in the import and distribution Of Electrical Equipment, Electronic
Appliances, Measurement and Control Products. |
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No of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Bahrain |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 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 : NARAIURAN CONTROL SYSTEMS ME WLL
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : 3rd July 2007
Commercial Registration Number : 65798-1
Membership Number : 18304
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Total Workforce : 15
Activities : Distributors of electrical equipment, electronic appliances,
measurement and control products
Financial Condition : Fair
Payments : No Complaints
Operating Trend : Steady
NARAIURAN CONTROL SYSTEMS ME WLL
Registered &
Physical Address
Building : Building No. 2298,
Shop G
Street : Road No. 0439
Area : Area No. 0704
PO Box : 75640
Town : Salmabad
Country : Bahrain
Telephone : (973-17) 784690
Facsimile : (973-17) 784197
Mobile : (973-37) 775583 / (973-39)
423880
Email : ravi@naraiuran.com
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Salmabad.
Name Nationality Position
·
Majda
Zahi Jameel Mobayed Bahraini Managing
Director
·
Rayishankar
Natarajan Indian Director
Date of Establishment : 3rd
July 2007
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 65798-1
Membership
No. : 18304
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of Shareholder
(s) Percentage
·
Majda
Zahi Jameel Mobayed 51%
·
Rayishankar
Natarajan 49%
Activities: Engaged in the import and distribution of electrical
equipment, electronic appliances, measurement and control products.
Import
Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: Bahraini
Dinar (BD)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue BD 1,100,000 BD 1,230,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank
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.63.29 |
|
|
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
MNL |
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 |
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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 |
|
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.