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Report No. : |
345907 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
GENUINE SOFT CO WLL |
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Registered Office : |
Block 257, Building 2155, Road
No. 5720, Amwaj, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
12.11.2013 |
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Com. Reg. No.: |
87454-1 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Engaged as computer and IT consultants, specializing in software
development and maintenance. |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
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.
|
Source
: CIA |
Company Name :
GENUINE SOFT CO WLL
Country of Origin :
Bahrain
Legal Form :
With Limited Liability - WLL
Registration Date :
12th November 2013
Commercial Registration Number :
87454-1
Issued Capital :
BD 20,000
Paid up Capital :
BD 20,000
Total Workforce : 2
Activities :
Computer and IT consultants
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
GENUINE SOFT CO WLL
Registered &
Physical Address
Building :
Block 257, Building 2155
Street : Road No.
5720
Area : Amwaj
Town : Manama
Country : Bahrain
Email : sylviesz@gmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Manama.
Name Nationality Position
Gergerly Istvan Kovari Hungarian Managing
Director
Szilvia Szabo Hungarian Director
Date of Establishment : 12th
November 2013
Legal Form : With Limited
Liability - WLL
Commercial Reg. No. : 87454-1
Issued Capital : BD 20,000
Paid up Capital : BD 20,000
Name of
Shareholder (s) Percentage
Gergerly Istvan Kovari 95%
Szilvia Szabo
5%
Activities: Engaged as computer and IT consultants, specializing in software
development and maintenance.
Subject has a workforce of 2 employees.
Companies registered in Bahrain are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
Arab Bank Plc
Government Avenue
PO Box: 395
Manama
Tel: (973-17) 229988
Fax: (973-17) 210443
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
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Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
TPT |
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.