|
Report No. : |
338182 |
|
Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HOUSE OF UNIFORMS (HOU) |
|
|
|
|
Registered Office : |
Building No. 178, Flat No. 202, Block No. 309, Road No. 907, 10174, Manama 318 |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
1985 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacture of
school uniforms and work wear. |
|
|
|
|
No. of Employees : |
60 |
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 : HOUSE OF UNIFORMS (HOU)
Country of Origin : Bahrain
Legal Form : Sole Proprietorship
Start Date : 1985
Registration Date : 28th February 1994
Commercial Registration Number : 31403-1, Manama
Chamber Membership Number : 4107
Invested Capital : BD 50,000
Total Workforce : 60
Activities : Manufacture of school uniforms and work wear.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shaju Mathew, Sales Supervisor
HOUSE OF UNIFORMS (HOU)
Location : Building No.
178, Flat No. 202, Block No. 309
Street : Road No. 907
PO Box :
10174
Town : Manama 318
Country : Bahrain
Telephone : (973-17) 245177
Facsimile : (973-17)
231910
Mobile : (973-39)
464885
Email : uniforms@batelco.com.bh
/ uniforms@uniforms.com.bh
Subject operates from a medium sized suite of offices and a workshop
that are rented and located in the Central Business Area of Manama.
Branch Office (s)
Location Description
· Al Ali
Complex, Shop No. 1114 Rented
showroom premises
Manama
Tel:
(973-17) 581510
· Godiybia
Area Rented
showroom premises
Manama
· Old Palace Road Rented
factory premises
Manama
Tel: (973-17)
225983
· Tala Plaza, Shop No.
41, 1st Floor Rented
office premises
Building No. 142,
Block 328
Road No. 28,
Avenue 29
Segaya
Name Nationality Position
· Mrs Natividad Canaveras Martinez Lozano Spanish Proprietor & General
Manager
· Yacoub
Jawad - Assistant General
Manager
· Nanon Gonomoni - Finance
Manager
· Shaju Mathew - Sales
Supervisor
Date of
Establishment : Subject’s
operations date back to 1985, however it was registered on 28th
February 1994
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 31403-1, Manama
Chamber Member No. : 4107
Invested Capital : BD 50,000
Mrs Natividad Canaveras
Martinez Lozano is the sole proprietor of the business.
Activities: Engaged in the manufacture of school
uniforms and work wear.
Subject is currently the sole supplier of
personalised Polo and T-shirts to more than 45 schools.
Import Countries: India and China
International Suppliers:
· Prime Overseas India
· MTV Export India
· Profitnet Export India
·
West Branchly India
Operating Trend: Steady
Subject has a workforce of 60 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
1,865,000 BD
2,110,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of Bahrain & Kuwait
43 Government
Avenue
PO Box: 597
Manama
Tel: (973-17)
253388
Fax: (973-17)
275785
No complaints regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.66.16 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.