MIRA INFORM REPORT

 

 

Report No. :

342959

Report Date :

30.09.2015

 

IDENTIFICATION DETAILS

 

Name :

HORSE PRIDE EQUESTRIAN EQUIPMENT CO WLL

 

 

Registered Office :

Building 1506, Road 85, Block 52, Budaya Highway, PO Box 38765, Riffa

 

 

Country :

Bahrain

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

12.01.2005

 

 

Com. Reg. No.:

65976-1

 

 

Legal Form :

With Limited Liability – WLL

 

 

Line of Business :

Engaged in the import and distribution of equestrian equipment and related supplies.

 

 

No. of Employees :

6

 

 

 

 

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                                    : HORSE PRIDE EQUESTRIAN EQUIPMENT CO WLL

Country of Origin                                   : Bahrain

Legal Form                                           : With Limited Liability – WLL

Registration Date                                  : 12th January 2005

Commercial Registration Number           : 65976-1

Invested Capital                                    : BD 50,000

Total Workforce                                     : 6

Activities                                               : Distributors of equestrian equipment and related supplies.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

COMPANY NAME

 

HORSE PRIDE EQUESTRIAN EQUIPMENT CO WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Building 1506, Road 85, Block 52

Street               : Budaya Highway

PO Box            : 38765

Town                : Riffa

Country             : Bahrain

Telephone         : (973-17) 592564

Facsimile          : (973-17) 592565

Mobile              : (973-36) 333309

Email                : horsepride@gmail.com

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Suburban Business Area of Riffa.

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Mohamed Sultan Jasim Alhashili                                                            Managing Director

 

Huda Mahmood Abdullah Mahmood                                                      Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th January 2005

 

History                         : Subject began in 2005 as a Sole Proprietorship. However on 19th July 2007 it changed

   legal form and became a With Limited Liability – WLL company.

 

Legal Form                  : With Limited Liability – WLL

 

Commercial Reg. No.   : 65976-1

 

Invested Capital           : BD 50,000

 

Name of Shareholder (s)                                          Percentage

 

Mohamed Sultan Jasim Alhashili                                    50%

 

Huda Mahmood Abdullah Mahmood                              50%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of equestrian equipment and related supplies.

 

Import Countries: United Kingdom and the United States of America.

 

Operating Trend: Steady

 

Subject has a workforce of 6 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 1,020,000                            BD 1,090,000

 

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

 

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

 

 

BANKERS

 

HSBC Bank Middle East

93 Al Khalifa Avenue

PO Box: 57

Manama 304

Tel: (973-17) 224555 / 222158

Fax: (973-17) 226822

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 company is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.18

UK Pound

1

Rs.100.46

Euro

1

Rs.74.61

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

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.