MIRA INFORM REPORT

 

 

Report No. :

344476

Report Date :

14.10.2015

 

IDENTIFICATION DETAILS

 

Name :

BARNES AND NOBLE BOOKSTORE

 

 

Registered Office :

Building No. 1622, Complex No. 504, Road No. 85, Budaiya Area, PO Box: 30979, Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

06.02.2005

 

 

Com. Reg. No.:

55705-1, Manama

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject is engaged in the wholesale and retail of stationery, books and journals.

 

 

No. of Employee :

8

 

 

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

SUMMARY

 

Company Name                                    : BARNES AND NOBLE BOOKSTORE

Country of Origin                                   : Bahrain

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 6th February 2005

Commercial Registration Number           : 55705-1, Manama

Chamber Membership Number               : 13812

Invested Capital                                    : BD 25,000

Total Workforce                                     : 8

Activities                                               : Wholesale and retail of stationery, books and journals

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Qassim Yousef Juma, General Manager

 

 

COMPANY NAME

 

BARNES AND NOBLE BOOKSTORE

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Building No. 1622, Complex No. 504

Street               : Road No. 85

Area                 : Budaiya Area

PO Box            : 30979

Town                : Manama

Country             : Bahrain

 

Telephone         : (973-17) 592193

Facsimile          : (973-17) 592194

Mobile              : (973-39) 858915 / 719011

Email                : bnb_bookstore@hotmail.com

 

Premises

 

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Manama.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Ms Najat Radhi Ahmed Ali                                                                 Proprietor

 

·       Qassim Yousef Juma                                                                       General Manager

 

·       Ali Mohamed                                                                                    Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 6th February 2005

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 55705-1, Manama

 

Chamber Member No.  : 13812

 

Invested Capital           : BD 25,000

 

Ms Najat Radhi Ahmed Ali is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of stationery, books and journals.

 

Import Countries: United Kingdom

 

International Suppliers:

 

·       Longman                              United Kingdom

·       Oxford University Press        United Kingdom

 

Brand Names: REXEL and SWAN

 

Operating Trend: Steady

 

Subject has a workforce of 8 employees.

 

 

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 775,000                               BD 810,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Bahrain Islamic Bank

PO Box: 5240

Manama

Tel: (973-17) 231402

Fax: (973-17) 275734

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.65.02

UK Pound

1

Rs.99.89

Euro

1

Rs.73.92

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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