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Report No. : |
305520 |
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Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
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Name : |
UNITED
ENTERPRISES TRADING CO WLL |
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Registered Office : |
Building 164, Block 949, Road 4903, Issa Town, P O Box 33771, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
06.01.1992 |
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Com. Reg. No.: |
26062-1 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject is
engaged as second grade building contractors. |
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No. of Employees : |
40 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 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 : UNITED
ENTERPRISES TRADING CO WLL
Country of Origin : Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date : 6th
January 1992
Commercial Registration
Number : 26062-1
Chamber Membership
Number : 1041
Issued Capital : BD
250,000
Paid up Capital : BD
250,000
Total Workforce : 40
Activities :
Second grade building contractors
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
UNITED ENTERPRISES
TRADING CO WLL
Building : Building 164, Block 949
Street : Road 4903
Area : Issa Town
PO Box : 33771
Town : Manama
Country : Bahrain
Telephone : (973-17) 702700 / 700606
Facsimile : (973-17) 702700 / 701515
Mobile : (973-37) 700554
Email : alsamali1000@hotmail.com
Subject operates from
a small suite of offices that are rented and located in the Suburban Business
Area of Manama.
Name Nationality Position
·
Abdulali
Abdulaziz Husain Alaali Bahraini Managing Director
·
Mohamed
Abdulali Abdulaziz Alaali Bahraini Director
·
Ebrahim
Abdulali Abdulaziz Alaali Bahraini Director
Date of Establishment : 6th
January 1992
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 26062-1
Chamber Member No. : 1041
Issued Capital : BD 250,000
Paid up Capital : BD 250,000
·
Abdulali
Abdulaziz Husain Alaali 95%
·
Mohamed
Abdulali Abdulaziz Alaali 5%
Activities: Engaged as second grade building
contractors.
Subject has a workforce
of 40 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.
·
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.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
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|
1 |
Rs.93.13 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.