MIRA INFORM REPORT

 

 

Report Date :

18.02.2011

 

IDENTIFICATION DETAILS

 

Name :

AL AHLEIA SWITCHGEAR COMPANY KSCC

 

 

Registered Office :

Street No 92, Block 3, Plot No 109, Subhan Industrial Area, P.O. Box  25876, Kuwait City, Safat 13119

 

 

Country :

Kuwait

 

 

Date of Incorporation :

14.09.1982

 

 

Com. Reg. No.:

33118

 

 

Legal Form :

Kuwaiti Shareholding Company

 

 

Line of Business :

Traders and contractors rendering services

 

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

 

Maximum Credit Limit :

KD 1,300,000

Status :

Good

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Kuwait

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

Al Ahleia Switchgear Company KSCC

 

 

company ADDRESS

 

Street                           : Street No 92, Block 3, Plot No 109

Area                             : Subhan Industrial Area

P.O. Box           : 25876

Town                 : Kuwait City

Post Code         : Safat 13119

Country             : Kuwait

Telephone         (965) 2476 2330 / 2476 2331 / 2476 2331 / 2476 5853 / 2473 0049 / 2472 3014 / 182 2600 / Mobile                                                 (965) 9988 6186 (Bilal Al Sous)

Fax                   : (965) 2476 1963

E-Mail                           : commercial@ahleiasg.com / bolbols@hotmail.com

Website            : www.ahleiasg.com

 

Trading Styles : Al Ahleia

 

Also Known as : Al Ahleia Switchgear

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                                        Position

 

1. Nasrallah Sayed Hameed Abdul Rasool Behbehani       Chairman / Managing Director

 

2. Abduljaleel Qassim Hassan Foulad                              Deputy Chairman

 

3. Fouad Sayed Hameed Behbehani                                Director

 

4. Najeeb S H Behbehani                                                Director

 

5. Masoud Rana Elahi                                                    General Manager

           

6. Georgie Alexander                                                                  Assistant General Manager

 

7. Maamoun Mabrouk                                                     Financial Manager

 

8. Bilal Al Sous                                                              Assistant Financial Manager

 

Total Employees : 2,000

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for LARGE amounts.

 

Opinion on maximum credit : KD 1,300,000

 

Trade risk assessment : Normal

 

Opinion on the credit figure of US DLRS 150,000 :

 

We consider the above figure to be within the company's financial capabilities.

 

 

TRADE REFERENCES

 

NAME      : SOUTH WALES TRANSFORMERS 

Town      : Mid Glamorgan

Post Code : CF37 5YD

Country   : UK

Telephone : (1443) 843511

Fax       : (1443) 843743

 

NAME      : TRAFEX LTD

County    : Hertfordshire

Post Code : WD3 4EA

Country   : UK

Telephone : (1923) 775573

Fax       : (1923) 771985

 

NAME      : TERASAKI (EUROPE) LTD

Area      : Scotland

Post Code : G81 4HT

Country   : UK

Telephone : (141) 941 1940

Fax       : (141) 952 9246

 

NAME      : GEC ALSTHOM T&D PROTECTION & CONTROL LTD

Town      : Stafford

Post Code : ST14 4lX

Country   : UK

Telephone : (1785) 223251

Fax       : (1785) 212232

 

NAME      : BTC AB

Town      : Oskarshamn 572 26

Country   : Sweden

Telephone : (491) 84455

Fax       : (491) 10862

 

NAME      : RAYCHEM TECHNOLOGIES LTD

Town      : Nicosia

Country   : Cyprus

Telephone : (2) 334940

Fax       : (2) 332580

 

NAME      : MEIDENSHA CORPORATION

Town      : Tokyo 100

Country   : Japan

Telephone : (81) 3324 67169

Fax       : (81) 3324 51378

 

NAME      : ASIATIC ELECTRONIC

Town      : New Delhi 11028

Country   : India

Telephone : 586617

Fax       : 543 9816

 

 

PRINCIPAL BANKERS

 

NAME     : GULF BANK KSC

Branch   : Mubarak Al Kabir Street

PO Box   : 3200

Town     : Safat 13032

 

Telephone: (965) 2244 9501

Fax      : (965) 2244 5212

 

The Company also has an account with: 

 

1. Commercial Bank of Kuwait SAK

   Mubarak Al Kabir Street

   PO Box 2861

   Safat 13029

   Telephone: (965) 2241 1001

   Fax      : (965) 2245 0150

 

2. Industrial Bank of Kuwait KSC 

   Mubarak Al Kabeer Street

   PO Box 360

   Safat 13032

   Telephone: (965) 2245 7661

   Fax      : (966) 2246 2057

 

3. Al Ahli Bank of Kuwait

   Ahmed Al Jaber Street

   PO Box 1387

   Safat 13014

   Telephone: (965) 2240 0900

   Fax      : (965) 2242 4557

 

4. Bank of Kuwait and the Middle East KSC

   Darwazat Abdul Razak

   PO Box 71

   Safat 13001

   Telephone: (965) 2245 9771

   Fax      : (965) 2246 1430

 

 

FINANCIAL INFORMATION

 

Private companies in Kuwait are not required to publish or disclose

balance sheets. However, the subject interviewed offered the

following information :

 

Sales Turnover    : KD  54,000,000 - 2007 - exact

               : KD  60,000,000 - 2008 - exact

               : KD  65,000,000 – 2009 – exact

               : KD  70,000,000 – 2010 - exact               

              

Net Profit     : not given but stated to be 15% of sales turnover

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 14 September 1982

 

C.R. No. : 33118

 

KCCI  Membership No. : 12486 (expiry date : 3 January 2015)

 

Authorised Capital : KD 24,026,134 (increased from KD 10,000,000 in

                                    2010)

 

Paid up Capital : KD 24,026,134 (increased from KD 10,000,000 in

                                 2010)

 

Kuwaiti Shareholding Company (Closed) with the following

shareholders :

 

                                                                                                Percentage

 

1.  Fouad Sayed Hameed Behbehani                               60%

    (Kuwaiti national)

 

2.  Nasrallah Sayed Hameed Abdul Rasool Behbehani    40%

    (Kuwaiti national)

 

Personal Profile on Fouad Sayed Hameed Behbehani :

 

He was born in 1949 and is married with children.

 

Affiliated companies of Al Ahleia Switchgear Company KSCC :

 

Associates

 

1. Sayed Hamid Behbehani and Sons Co. 

   Sayed Hamid Behbehani and Sons Company Building

   Al Ardiya Area

   PO Box 3065

   Safat 13031

   Al Assimah

   Telephone : (965) 182 2300

   Fax       : (965) 2434 5528 / 2434 5529

   E-mail    : shbc@shbc.com.kw / shbckwt@aol.com

   Website   : www.shbc.com  

 

2. Al Amal Investment Company  

   Building 114, Block 2

   Ground Floor, Office No. 27

   Al Qebla Street

   Central Trade Region

   PO Box 3010

   Safat 13031

   Telephone : (965) 2240 2229 / 2240 2228

    Fax      : (965) 2240 2227

    E-mail   : alamalinvest@yahoo.com

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Traders and contractors rendering services for the supply,

installation, testing and commissioning of 12 kV distribution sub-

stations including cable laying, jointing, maintenance and repair of

HV/LV switchgear, motors, power transformers up to 2.5 MVA, bus ducts, DC system etc.; also for turnkey electrical contracting including supply and installation of power transformers up to 40 MVA.

 

Manufacturers of different types of electrical equipment such as

switchgear up to 12 KV, distribution boards up to 2000 amps, motor

control centres, MLTB, MSB, SMBC, street lighting cut-outs, load

limit devices, current transformers, DC switchgear and distribution

boards.

 

Subject manufactures products to international standard : BS EN ISO

9001:1994.

 

Subject provides turnkey electrical contracting, 132 kv substations,

supply, installation & commissioning of all types of electrical

equipment including package sub-stations.

 

Subject also provides engineering consultancy for EPC projects.

 

Main suppliers : Babcock Energy Services Ltd, UK

               : Bristol Babcock Ltd, UK

               : Hawker Siddeley Power Transformers, UK

               : Sigmafork (UK) Ltd, UK

               : Fourth Build Transform, UK

 

In September 2007, the Subject won a contract to build a substation

at the northern Sabriyah field. Under the terms of the contract,

which is worth KD 2.9 million, Al Ahleia will build an 11 kV main

intake substation at the field.

 

Subject completed projects:

 

Project Name                                                    Value of Contract

 

- Saad Al Abdullah Five Transformer Stations       US DLRS 61,000,000

- Five Transformer Stations                                 US DLRS 80,000,000

- Jaber Al Ahmed Five Main Substations              US DLRS 66,200,000

- Volt Ring Main Substations                               US DLRS 80,000,000

 

Subject's clients include the following :

 

- Petrofac International Ltd., Sharjah, UAE;

- UNEECO, Bahrain;

- Blue Dome Co. for General Trading & Contracting, Kuwait;

- Ministry of Electricity and Water, Kuwait;

- Mushrif Trading and Cont. Co., Kuwait;

- Ministry of Electricity and Water, Kuwait;

- National Contracting Co., Kuwait;

- International Broadcasting Bureau (IBB);

 

Imports from Germany, Japan, UK, France, USA, Sweden, Finland and

India.

 

Exports to GCC countries and Iraq.

 

 

FACILITIES

 

The Company has the following facilities :

 

37,000 sq. f. rented premises comprising administrative office and a manufacturing plants and block as well as 2 factories and 7 branches located elsewhere in Kuwait (see "Branch Offices" below).

 

Subject also operates through the following registered branch:

 

Al Ahleia Switchgear Factory Branch of Al Ahleia Switchgear Co. KSCC

Street No 92, Block 3, Plot No 119

Subhan Industrial Area

PO Box 25876

Kuwait City

Safat 13119

Telephone: (965) 182 2600

Fax      : (965) 2476 1963 / 2472 3029

Est. 14 September 1982

C.R. No. : 33118

KCCI Membership No. : 12486 (expiry date: 04 March 2011)

 

 

BRANCH OFFICES

 

1. Subhan Industrial Area

   Block 6               

   Street 62              

   Plot 81/82            

   Telephone  : (965) 2474 2340 / 2474 2821 / 2474 3506

   Fax        : (965) 2476 7341

 

2. Amgara Industrial Area

   Block 3

   Plot 63 & 65 & 67

   Telephone : (965) 2539 9419

 

3. Subhan Industrial Area

   Block 9, Street 92, Plot 105.

 

4. Subhan Industrial Area

   Block 9, Street 92, Plot 148

 

5. Subhan Industrial Area

   Block 8, Street 84, Plot 181, 182 & 184

 

6. Subhan Industrial Area

   Block 9, Street 101, Plot 102, 104 & 106

 

7. Subhan Industrial Area

   Block 3, Street 101, Plot 21, 23 & 25

 

 

SPECIAL NOTE

 

Interviewed : Bilal Al Sous (Assistant Financial Manager).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.38

UK Pound

1

Rs.73.08

Euro

1

Rs.61.60

 

 

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

 

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.