MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABDULLAH A. BIN HINDI BSCC |
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Registered Office : |
Bin Hindi
Complex, Building No. 264, Block 356, Sheikh Salman Highway, Al Salhiya Area,
PO Box 632 & 350, Manama |
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Country : |
Bahrain |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
April, 1965 |
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Com. Reg. No.: |
829, Manama |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject’s operations are performed through Automobile Division, Truck Division, Spare Parts Division, Service Centre Division, Civil Engineering / Construction Division. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDULLAH A. BIN HINDI BSCC
Doing Business As : A A BIN HINDI BSCC
Country of Origin : Bahrain
Legal Form : With Limited Liability - WLL
Registration Date : April 1965
Commercial Registration Number : 829, Manama
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Total Workforce : 100
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
ABDULLAH A. BIN
HINDI BSCC
DOING BUSINESS AS
A A BIN HINDI BSCC
ADDRESS
Registered &
Physical Address
Building : Bin Hindi Complex, Building No.
264, Block 356
Street : Sheikh Salman Highway
Area : Al Salhiya Area
PO Box : 632 & 350
Town : Manama
Country : Bahrain
Telephone : (973-17) 408000 / 703078 / 400901
Facsimile : (973-17) 400761 / 701889
Email : binhindi@batelco.com.bh
Premises
Subject operates
from a medium sized suite of offices that are owned and located in the Central
Business Area of Manama.
Branch Office
(s)
Location Description
·
Salamabad
Industrial Area Workshop
& showroom premises
Manama covering
an area of 50,000 square metres
Tel : (973-17) 785977 / 785988
·
Sitra Workshop
premises covering an
Tel: (973-17) 785955 area
of 40,000 square metres
·
Khamis Area Showroom
premises
Manama
Tel: (973-17) 408046
Fax: (973-17) 400761
KEY PRINCIPALS
Name Position
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Abdullah A.
Bin Hindi Managing
Director
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Ahmed Abdullah
A. Bin Hindi Director
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Nawaf Abdullah
A. Bin Hindi Director
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Khalid
Abdullah A. Bin Hindi Director
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Stanley Isaac Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : April 1965
Legal Form :
Bahraini Shareholding
Company Closed BSC (C)
Commercial Reg. No. : 829, Manama
Issued Capital : BD 200,000
Paid up Capital : BD 200,000
Name of Shareholder (s)
·
Abdullah A.
Bin Hindi
·
Ahmed Abdullah
A. Bin Hindi
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Nawaf Abdullah
A. Bin Hindi
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Khalid
Abdullah A. Bin Hindi
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Bahraini
businessmen & private investors
AFFILIATED COMPANIES
·
Bin Hindi
Informatics WLL
Sheikh Salman Road
PO Box : 11628
Manama
Tel : (973) 404234 / 408050
Fax : (973) 400761 / 408054
Commercial registration no. 30578
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MBM-Alam Flora
WLL
PO Box: 2234
Manama
Tel: (973-17) 244888
Fax: (973-17) 241477
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CARS Transport
Corp. WLL
PO Box: 33488
Manama
Tel: (973-17) 345577
Fax: (973-17) 341410
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Bin Hindi
Leasing WLL
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Plasma Pro Co.
WLL
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Bahrain Import
And Export Company
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Bahrain
District Cooling Company BSC
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Automobile Division
This
division was established in 1987 when it signed dealership rights for Lada.
Furthermore, in 1990 the division signed an agreement with Korean KIA and ASIA
giving the subject sole distributorship rights in Bahrain.
The division deals in a wide
range of vehicles, both commercial and passenger.
·
Truck
Division
Engaged
in the import and distribution of heavy and light weight trucks. The division
represents the world-renowned Renault Trucks and Renault Used Trucks.
·
Spare
Parts Division
This division dates back to 1965 and
specialises in the wholesale and retail of automotive spare parts, tyres,
batteries, accessories and lubricants.
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Service
Centre Division
Operators of a garage and workshop offering
car maintenance and repair services
· Civil Engineering / Construction Division
This
division specialises in large construction projects and is categorised as a
“Class A” contractor in Bahrain. It has undertaken and successfully completed
some of the largest infrastructure projects in Bahrain.
Its
projects include turnkey major and minor sewerage projects, drainage and link
sewers, marine cables, sub stations, water supply, road works, storm water,
deep main sewerage pumping stations, reclamation as well as road works,
residential and office construction and sewerage treatment projects.
The division is also engaged in the import
and distribution of construction equipment.
Import
Countries: France, Germany,
Belgium, Italy, Netherlands, India, Japan, Taiwan, South Korea, Canada and the
United States of America
Agencies Held:
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Renault France
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Genelac France
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Cofran France
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O & K Germany
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Diamant Boart Belgium
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Lombardini
Engines Italy
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Kent hydraulic
breakers Netherlands
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Kirloskar India
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Meiho Japan
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Denyo Japan
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Sumitomo Japan
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Federal Tyres Taiwan
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Kia South
Korea
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John Deere United States of
America
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Auto Crane
Company United States of
America
·
Thomas Canada
Operating Trend: Steady
Subject has a
workforce of approximately 100 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Bahraini
Dinar (BD)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales BD 4,080,000 BD 5,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Al Ahli Commercial
Bank
Government Avenue
PO Box : 5941
Manama
Tel : (973) 244333
Fax
: (973) 241301
·
Standard
Chartered Bank
Standard Chartered Bank Building
Government Road
PO Box : 29
Manama
Bahrain
Tel : (973) 223636 / 255946
Fax : (973) 230503
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction October 2005 November 2005 October 2007
Credit amount 34,000 150,000 34,000
Amount overdue 0 0 0
Payment terms 120
days 90 days 120 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency Pounds
Sterling Pounds Sterling Pounds Sterling
GENERAL COMMENTS
Established in
1965, subject is owned and managed by members of the Bin Hindi family who are
well respected in the local business community. The subject deals with a host
of reputable and well known international organisations.
According to local
sources, subject meets its payment obligations in a timely manner and the business
is considered to be a fair trade risk. As such the above credit figure is
considered to be within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)