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Report No. : |
310795 |
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Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
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Name : |
YAM TRADING |
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Registered Office : |
Building No. 67, Block No. 911, Shop
No. 69, Road No. 369, PO Box 28011, East Riffa |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
14.06.2006 |
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Com. Reg. No.: |
13639-8 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of building materials and
safety products, such as shoes, helmets, gloves and harnesses. |
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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 – 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 |
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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 :
YAM TRADING
Country of Origin :
Bahrain
Legal Form :
Sole Proprietorship
Registration Date :
14th June 2006
Commercial Registration Number :
13639-8
Invested Capital : BD 60,000
Total Workforce :
8
Activities :
Distributors of building materials and safety products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mohamed Amer, Sales Manager
YAM TRADING
Registered &
Physical Address
Location : Building No.
67, Block No. 911, Shop No. 69
Street :
Road No. 369
PO Box :
28011
Town : East Riffa
Country : Bahrain
Telephone : (973-17) 769245
Facsimile : (973-17)
777099
Mobile : (973-79) 9666661 / (973-36) 639606 / (973-39) 232418
Email : yamtrading@gmail.com
/ info@yamtradingbahrain.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Suburban Business Area of East Riffa.
Name Position
Ali Abdullah Ahmed Al Ghatam Proprietor
& General Manager
Irshad Hussain Assistant
General Manager
Mohamed Amer Sales
Manager
Sheikh Altaf Financial
Controller
Date of Establishment : 14th
June 2006
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 13639-8
Invested Capital : BD 60,000
Mr Ali Abdullah Ahmed Al Ghatam is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of building materials and safety
products, such as shoes, helmets, gloves and harnesses.
Import Countries: China, India, Cyprus, Italy and the United Arab
Emirates.
International Suppliers:
Veral Co Cyprus
Ferplast Italy
JPL Metallic India
Ostermier FZE United Arab Emirates
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
510,000 BD
550,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mohamed Amer, Sales Manager
Al Ahli Commercial Bank
East Riffa Branch
PO Box: 5941
Manama
Tel: (973-17) 778807
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
|
|
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.