MIRA INFORM REPORT

 

 

Report No. :

345867

Report Date :

27.10.2015

 

IDENTIFICATION DETAILS

 

Name :

NATIONAL BOOK SHOP

 

 

Registered Office :

Exhibition Road, PO Box 594, Manama

 

 

Country :

Bahrain

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

14.01.1980

 

 

Com. Reg. No.:

711-1

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Engaged in the Wholesale and Retail of Books, School Books, Stationery and CD’s.

 

 

No. of Employees :

25

 

 

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                                    : NATIONAL BOOK SHOP

Country of Origin                                   : Bahrain

Legal Form                                           : Sole Proprietorship

Start Date                                             : 1961

Registration Date                                  : 14th January 1980

Commercial Registration Number           : 711-1, Manama

Chamber Membership Number               : 773

Invested Capital                                    : BD 20,000

Total Workforce                                     : 25

Activities                                               : Wholesale and retail of books, school books, stationery and CD’s.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Mohamed Danish Al Azmi, Sales Manager

COMPANY NAME

 

NATIONAL BOOK SHOP

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Exhibition Road

PO Box                        : 594

Town                : Manama

Country : Bahrain

Telephone         : (973-17) 293840

Facsimile          : (973-17) 293799

Mobile              : (973-39) 464371 / 689300 / 684134

Email                : fobaid@batelco.com.bh

 

Premises

 

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

 

Branch Office (s)

 

Location                                                                                               Description

 

Issa Town                                                                                             Rented showroom premises

Tel: (973-17) 684676

 

Al Seef Complex                                                                                   Rented showroom premises

Al Seef

Tel: (973-39) 746746

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Farooq Ibrahim Mohamed Obaid                                                Proprietor & General Manager

 

Ibrahim Al Goti                                                                          Assistant General Manager

 

Mohamed Danish Al Azmi                                                          Sales Manager

 

Shakeel Ahmed                                                             Financial Controller

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1961, however it was registered on 14th January 1980

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 711-1, Manama

 

Chamber Member No.  : 773

 

Invested Capital           : BD 20,000

 

Mr Farooq Ibrahim Mohamed Obaid is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of books, school books, stationery and CD’s.

 

Import Countries: United States of America, United Kingdom, India and China

 

International Suppliers:

 

Oxford University Press United Kingdom

Collins Publisher                       United Kingdom                       

King Fisher Ltd                          United Kingdom           

Longwall                                   United Kingdom

McAlpine                                  United Kingdom

Gulf Education Co                     Dubai

 

Brand Names: SWAN and STADLER

 

Operating Trend: Steady

 

Subject has a workforce of 25 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 3,350,000                            BD 3,480,000

 

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

 

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

 

 

BANKERS

 

Standard Chartered Bank

Standard Chartered Bank Building

Government Road

PO Box: 29

Manama

Bahrain

Tel: (973-17) 223636 / 255946

Fax: (973-17) 230503

 

 

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.64.96

UK Pound

1

Rs.99.55

Euro

1

Rs.71.64

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               

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.