MIRA INFORM REPORT

 

 

Report No. :

339068

Report Date :

02.09.2015

 

IDENTIFICATION DETAILS

 

Name :

YAQUBY INTERNATIONAL

 

 

Registered Office :

Abdul Aziz Al Shamlan Avenue, Road No. 3703, Building No. 170 Umm Al Hassam, Block 337 1524 Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

02.08.1990

 

 

Com. Reg. No.:

25337-1, Manama

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Engaged in the import and distribution of general foodstuff products, beverages and energy drinks.

 

 

No. of Employee :

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

 

 

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

 

SUMMARY

 

Company Name                                    : YAQUBY INTERNATIONAL

Country of Origin                                   : Bahrain

Legal Form                                           : Sole Proprietorship

Registration Date                                  : 2nd August 1990

Commercial Registration Number           : 25337-1, Manama

Chamber Membership Number               : 840

Invested Capital                                                : BD 50,000

Total Workforce                         : 25

Activities                                               : Distributors of general foodstuff products, beverages and energy drinks.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Aji Abraham, Finance Manager

 

 

COMPANY NAME

 

YAQUBY INTERNATIONAL

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Abdul Aziz Al Shamlan Avenue, Road No. 3703, Building No. 170

Area                 : Umm Al Hassam, Block 337

 

PO Box            : 1524

 

Town                : Manama

Country : Bahrain

 

Telephone         : (973-17) 740600 / 710458

Facsimile          : (973-17) 740230

Mobile              : (973-39) 669335 / 620039

Email                : mail@yaquby-international.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Nizam Mohamed Saleh Yaquby                                                         Proprietor

 

·       John Oommen                                                                                  General Manager

 

·       Mohamed Al Yaquby                                                                        Business Development Manager

 

·       Jan B Magdaraog                                                                             Commercial Manager

 

·       Aji Abraham                                                                                     Finance Manager

 

·       T Shyamdas                                                                                     Sales Manager

 

·       Adam Al Zaki                                                                                    Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2nd August 1990

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.   : 25337-1, Manama

 

Chamber Member No.  : 840

 

Invested Capital           : BD 50,000

 

Mr Nizam Mohamed Saleh Yaquby is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       Yaquby Stores Co WLL

Bab Al Bahrain Building

Bab Al Bahrain Road

PO Box: 158

Manama

Tel: (973-17) 210956 / 210983

Fax: (973-17) 210959

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general foodstuff products, beverages and energy drinks.

 

Import Countries: Australia, India, Japan and Turkey.

 

International Suppliers:

 

·       Power Horse            Australia

·       Nirapara Kairulla       India

·       Victeanec                 Japan

·       Mehmet Efendi         Turkey

·       Sirma                       Turkey

 

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 1,180,000                            BD 1,240,000

 

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

 

 

BANKERS

 

·       National Bank of Bahrain BSC

Government Road

PO Box: 106

Manama

Tel: (973-17) 258800

Fax: (973-17) 263876

 

·       Bahrain Islamic Bank

Government Road

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

 

Established in 1990, subject is owned and managed by Mr Nizam Mohamed Saleh Yaquby who is well respected in the local business community.

 

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 business is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.26

UK Pound

1

Rs.101.99

Euro

1

Rs.74.79

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.