|
Report No. : |
330759 |
|
Report Date : |
13.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MADARIS TRADING CO SPC |
|
|
|
|
Registered Office : |
Flat No. 109, Building No. 1823, Block No. 704, Road No. 433, Salmabad |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Date of Incorporation : |
24.02.2011 |
|
|
|
|
Com. Reg. No.: |
75859 |
|
|
|
|
Legal Form : |
Single Person Company |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of health food and
products and general foodstuff and beverages. |
|
|
|
|
No. of Employee : |
5 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 :
MADARIS TRADING CO SPC
Country of Origin :
Bahrain
Legal Form :
Single Person Company
Registration Date :
24th February 2011
Commercial Registration Number :
75859
Issued Capital : BD 50,000
Paid up Capital :
BD 50,000
Total Workforce : 5
Activities :
Distributors of health food and products and general foodstuff & beverages
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
MADARIS TRADING CO SPC
Building :
Flat No. 109, Building No. 1823, Block No. 704
Street : Road No. 433
Town : Salmabad
Country : Bahrain
Telephone : (973-17) 684005
Facsimile : (973-17) 684933
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Salmabad.
Name Position
· Ali Abdulredha Ali
Shaikh Ali Managing
Director
Date of
Establishment : 24th
February 2011
Legal Form : Single Person
Company
Commercial Reg.
No. : 75859
Issued Capital : BD 50,000
Paid up Capital : BD 50,000
Name of
Shareholder (s) Percentage
· Ali Abdulredha Ali
Shaikh Ali 100%
Activities: Engaged in the import and distribution of health food and products and
general foodstuff and beverages.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 5 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
690,000 BD
730,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
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.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.