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Report No. : |
328923 |
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Report Date : |
27.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SKY BLUE TRADING |
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Registered Office : |
Zubara Plaza, Shop No. 23, Block No. 318, Street No. 358, Gudaibiya, P O Box: 21724 |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.08.2003 |
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Com. Reg. No.: |
51428-1 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and
Distribution of Electrical Equipment, Electronic Products, Valves, Pumps and
Machinery. |
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No. of Employees : |
8 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
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Source
: CIA |
Company Name : SKY BLUE
TRADING
Country of Origin : Bahrain
Legal Form :
Sole Proprietorship
Registration Date : 10th
August 2003
Commercial
Registration Number : 51428-1
Chamber Membership
Number : 13286
Invested Capital : BD 10,000
Total Workforce : 8
Activities :
Distributors of electrical equipment, electronic products, valves,
pumps and machinery
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
SKY BLUE TRADING
Building : Zubara Plaza, Shop No. 23, Block
No. 318
Street : Street No. 358
Area : Gudaibiya
PO Box : 21724
Town : Manama
Country : Bahrain
Telephone : (973-17) 295829
Facsimile : (973-17) 295809
Mobile : (973-39) 230300
Email : nader325I@hotmail.com
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
Name Position
·
Zahra
Ali Abdullah Jasim Proprietor
& General Manager
·
Ahmed
Abdullah Ebrahim Ahmed Assistant
General Manager
Date of Establishment : 10th
August 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 51428-1
Chamber Member No. : 13286
Invested Capital
: BD 10,000
Mr Zahra Ali Abdullah
Jasim is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
electrical equipment, electronic products, valves, pumps and
machinery.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 8 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 810,000 BD 880,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
ABN
Amro Bank
Al Furdha Avenue
PO Box: 350
Manama
Tel: (973-17) 224896 / 225420
Fax: (973-17) 262241
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
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|
1 |
Rs.100.09 |
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Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.