|
Report No. : |
351186 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
DECENT TRADING
WLL |
|
|
|
|
Registered Office : |
Shop No. 313,
Block 304 Road 407 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
27.01.2002 |
|
|
|
|
Com. Reg. No.: |
487451 |
|
|
|
|
Legal Form : |
With Limited
Liability - WLL |
|
|
|
|
Line of Business : |
Subject is engaged in
the wholesale and retail of fabrics, textiles, paintings, antiques and handicrafts. |
|
|
|
|
No. of Employee : |
10 |
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 : DECENT TRADING WLL
Country of Origin : Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date : 27th
May 2002
Commercial
Registration Number : 487451
Chamber Membership
Number : 10406
Issued Capital : BD
20,000
Paid up Capital : BD
20,000
Total Workforce : 10
Activities :
Wholesalers and retailers of fabrics, textiles, paintings, antiques and
handicrafts.
Financial Condition : Fair
Payments :
No Complaints
Operating Trend : Steady
DECENT TRADING WLL
Building : Shop No. 313, Block 304
Street : Road 407
Town : Manama 304
Country : Bahrain
Telephone : (973-17) 756641 / 225415
Email : decenttrading@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 Nationality Position
·
Mohamed
Iqbal Chaudhry Mahmood Hussain Pakistani Managing Director
·
Mumtaz Hussain Pakistani Director
·
Ahmed Murad Mohamed Rand Emirati Director
Date of Establishment : 27th
May 2002
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 487451
Chamber Member No. : 10406
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
·
Ahmed Murad Mohamed Rand 51%
·
Mohamed
Iqbal Chaudhry Mahmood Hussain 25%
·
Mumtaz Hussain 24%
Activities: Engaged in the wholesale and retail of
fabrics, textiles, paintings, antiques and handicrafts.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 10 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 785,000 BD 900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bahraini
Saudi Bank BSC
Al Sadah Building
Government Avenue
PO Box: 1159
Manama
Tel: (973-17) 211010
Fax: (973-17) 210989
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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.