MIRA INFORM REPORT

Report No. :	347530
Report Date :	04.11.2015

IDENTIFICATION DETAILS

Name :	GLOBAL METAL WLL
Registered Office :	Building 1774, Block 0953 Road No. 5331 Manama
Country :	Bahrain
Date of Incorporation :	20.03.2002
Com. Reg. No.:	48372-1
Legal Form :	With Limited Liability - WLL
Line of Business :	Distributors of steel, ferrous and non-ferrous metals.
No. of Employee :	40

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 :	Slow but correct
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

IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name		:	GLOBAL METAL WLL
2) Registered Address:
Address		:	Building 1774, Block 0953 Road No. 5331
Town		:	Manama
Country		:	Bahrain
PO Box		:	26774
Phone (s)		:	(973-17) 720147
Facsimile		:	(973-17) 720231
Email		:	feroz@kmi.ae
Mobile		:	(973-39) 636463
			(973-39) 697187
3) Operational Address & Contact Details:
Address		:	Building 1774, Block 0953 Road No. 5331
Town		:	Manama
Country		:	Bahrain
PO Box		:	26774
Phone (s)		:	(973-17) 720147
Facsimile		:	(973-17) 720231
Email		:	feroz@kmi.ae
Mobile		:	(973-39) 636463
			(973-39) 697187
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category		:	With Limited Liability - WLL
Date of Registration		:	20th March 2002
Commercial Registration Number		:	48372-1
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number		:	11299
KEY FACTS
Operational Status		:	Steady
Financial Condition		:	Fair
Primary Business Activity		:	Distributors of steel, ferrous and non-ferrous metals.
Number of Employees		:	40
Capital		:	BD 20,000
CAPITAL DETAILS
Issued Capital:
NO OF SHARES			VALUE OF SHARE		AMOUNT
N/A			N/A		BD 20,000
Paid Up Capital:
NO OF SHARES					AMOUNT
N/A			N/A		BD 20,000
FINANCIAL DATA
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 5,280,000		BD 6,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Feroz Khan, General Manager
BANKER
1	Name			Gulf International Bank BSC
	Address			Al Dowali Building 3 Palace Avenue
	PO Box			1017 Manama
	Tel			(973-17) 534000
				(973-17) 534300
				(973-17) 530030
	Fax			(973-17) (973) 522633
				(973-17) (973) 522530
				(973-17) (973) 522629
	Email			gibmktg@batelco.com.bh
SHAREHOLDERS
Sr.No	Name of Shareholders				Nationality	No. of Shares
1	Mohamed Abdullah Abdul Qader Al Bastaki				Bahraini	51%
2	Iskander Sultan Khawaja				Pakistani	49%
Total Share						100%
SENIOR MANAGEMENT
Sr.No	Name			Nationality	Dsignation
1	Mohamed Abdullah Abdul Qader Al Bastaki			Bahraini	Managing Director
2	Iskander Sultan Khawaja			Pakistani	Director
3	Feroz Khan			n/a	General Manager
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country			Activity
1	Europe			Import
2	GCC			Import
PREMISES
Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Manama.
PAYMENT
No complaints regarding subject’s payments have been reported.
ADVERSE DATA
Performance Defaults		:	No record found
Payment Defaults		:	No record found
Adverse Press Coverage		:	No record found
Litigations		:	No record found
Former Business Relationships		:	No record found
INVESTIGATOR'S COMMENTS
Person Interviewed : Feroz Khan, General Manager
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.65.45
UK Pound	1	Rs.100.96
Euro	1	Rs.72.10

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	ANK

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.