MIRA INFORM REPORT
|
Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALI RASHID AL AMIN COMPANY FOR TRADE &
INDUSTRY BSC |
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|
|
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Registered Office : |
Building No.733, Block No.: 601, Al Tijjar Avenue No.: 113, Sitra Industrial Area, P.O. Box 643, Manama |
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Country : |
Bahrain |
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Date of Incorporation : |
27.03.1965 |
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Com. Reg. No.: |
823-2 |
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Legal Form : |
Closed Joint Stock
Company |
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Line of Business : |
Importers, wholesalers
and retailers of fresh,
chilled, dry, canned and frozen
foodstuff, cosmetics, perfumes and general supermarket merchandise including light
mobile plant, pumps, detergents and accessories |
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 |
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Maximum Credit Limit : |
BD
300,000 |
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|
|
|
Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Bahrain |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COmpany NAME
Ali Rashid Al Amin Company For Trade & Industry
BSC (Correct)
ALI RASHID AL AMIN FOR TRADE AND INDUSTRY (Requested)
Company ADDRESS
Building
: Building No.: 733, Block No.: 601
Street : Al Tijjar Avenue No.: 113
Area : Sitra Industrial Area
P.O.
Box : 643
Town : Manama
Country
: Bahrain
Telephone :
(973) 1773 2220 / 1725 3100 / 1732 2359 / 1732 0384 / 1723 1531 / 1773
8659
Fax : (973) 1773 0078 / 1724 0192
E-Mail : aralamin@batelco.com.bh
Formerly
Known As : Ali Rashid Al Amin Est. for Trade and Industry
Also
Known As : Ali Rashid Al Ameen Co BSC / Al Amin Fresh Fruits Est.
SENIOR COMPANY PERSONNEL
Name
Position
1.
Ali Rashid Al Amin
Chairman
2.
Rashid Ali Rashid Alamin Managing
Director
3.
Khaled Ali Rashed Alameen Director
4.
Majed Ali Rashed Alameen Industries
Director
5.
Zayed Ali Rashid Aamin Finance
Director
6.
S.J. Abraham
Sales and Marketing Manager
7.
K.P. Sudesh
Financial Manager
8.
K.S. Subash
Division Manager (Al Amin Fresh
Fruits Est.)
Total
Employees : 396
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 : BD 300,000
Trade
risk assessment : Normal
Opinion
on the credit figure of US DLRS 1,000,000 :
The
above figure is higher than normally seen in one amount, however could prove
admissible if split into two transactions provided the total indebtedness is
strictly monitored.
PRINCIPAL BANKERS
NAME :
NATIONAL BANK OF BAHRAIN BSC
Branch :
Government Avenue
P.O.
Box :
106
Town :
Manama
Telephone :
(973) 1722 8800
Fax :
(973) 1722 8998
The
Company also has accounts with the following banks :
1.
Al Ahli United Bank
Main branch
120 Government Avenue
P.O. Box 2424
Manama
Telephone: (973) 1722 0555
Fax
: (973) 1722 0552
2.
Bank of Bahrain and Kuwait BSC
Government Avenue 43
P.O. Box 4207
Manama
Telephone: (973) 1722 3388
Fax
: (973) 1722 9822
3.
BNP Paribas
Main branch
P.O. Box 5241
Manama
Telephone: (973) 1722 5275
Fax
: (973) 1722 4697
4.
National Bank of Bahrain
Main Office
P.O.Box 106
Manama
Telephone: (973) 1722 8800
Fax
: (973) 1722 8998
5.
Bank of Muscat International
Main Branch (Manama)
Car Park Building
P.O. Box 350
Manama
Telephone: (973) 1722 0924
Fax
: (973) 1721 5004
FINANCIAL INFORMATION
Private
companies in Bahrain are not required to publish or disclose
balance
sheets. However, the subject interviewed offered
the
following information :
Sales
Turnover : BD 3,700,000 - 1988 - exact
: BD 5,000,000 - 1989 - exact
: BD 5,300,000 - 1990 - exact
: BD 6,400,000 - 1991 - exact
: BD 7,500,000 - 1992 - approx
: BD 9,500,000 - 1993 - exact
: BD 10,000,000 - 1994 - exact
: BD 10,000,000 - 1995 - exact
: BD 10,200,000 - 1996 - approx
: BD 10,500,000 - 1997 - exact
: BD 10,750,000 - 1998 - approx
: BD 11,000,000 - 1999 - approx
: BD 9,500,000 - 2000 - exact
: BD 10,000,000 - 2001 - approx
: BD 11,000,000 - 2002 - exact
: BD 15,000,000 - 2003 - exact
: BD 16,000,000 - 2004 - exact
: BD 21,000,000 - 2005 - exact
: BD 20,000,000 - 2006 - exact
: BD 23,000,000 - 2007 - exact
: BD 32,000,000 - 2008 - exact*
: BD 39,000,000 - 2009 - exact
: BD 32,000,000 – 2010 – exact
: BD 33,500,000 – 2011 – exact
Net
Profit : BD 280,000 - 2006 - exact
: BD 410,000 - 2007 - exact
: BD 797,000 - 2008 - exact
: BD 980,000 - 2009 – exact
: BD 1,048,000 – 2010 - exact
: BD 1,766,000 – 2010 – exact
Total
Investment Capital : BD 5,000,000 - approx
*
A significant increase in sales turnover and net profit in 2008 and
2009 was attributed to favourable market
conditions and expansion
of the business
Financial
year ends 30 June.
LEGAL STATUS AND HISTORY
Date
Started : 27 March 1965
History
: Subject was established on 27 March 1965 as proprietorship
by Ali Rashid Al Amin. On 19 January
2003 subject has
changed the legal status into
Bahraini Shareholding Company
Closed and its name to the current
style. At the same time
the company absorbed its affiliates
including Al Amin Fresh
Fruits Est, which effectively became
divisions within the
subject company.
Since its inception subject
registered the following
branches:
- Midway Supermarket
(Sub C.R. No. 823-1): Registered on
19 August 1974
(expiry date: 19 August 2012);
- Midway Supermarket
(Sub C.R. No. 823-3): Registered on
25 August 1983
(expiry date: 25 August 2012);
- The Exhibition
(Sub C.R. No. 823-5): Registered on
16 January 1986
(expiry date: 16 January 2013);
- Exhibition
(Sub C.R. No. 823-6): Registered on
11 May 1986
(expiry date: 11 May 2012);
- Snack Bar
(Sub C.R. No. 823-7): Registered on
06 December 1988
(expiry date: 6 December
2012);
- Almaradh Contracting
Establishment
(Sub C.R. No. 823-8): Registered on
02 October 1991
(expiry date: 2 October 2012);
- Ali Rashid Alamin
(Sub C.R. No. 823-9): Registered on
15 September 1992
(expiry date: 15 September 2010);
- Lulwa Food Factories
(Sub C.R. No. 823-10): Registered
on 15 September 1992
(expiry date: 8 June 2012);
- All In One Restaurant
(Sub C.R. No. 823-11): Registered
on 23 January 1995
(expiry date: 23 January
2013);
- Al Amin Fresh Fruits Establishment
(Sub C.R. No. 823-12): Registered
on 04 June 1996
(expiry date: 4 June 2012);
- Midway Supermarket
(Sub C.R. No. 823-13): Registered
on 12 October 1996
(expiry date: 12 October
2012);
- Ali Rashid Alamin
(Sub C.R. No. 823-14): Registered
on 16 January 1997
(expiry date: 6 January 2013);
- Alamin Fresh Fruits Establishment
(Sub C.R. No. 823-15): Registered on 03
June 1997
(expiry date: 3 June 2012);
- Midway Market
(Sub C.R. No. 823-16): Registered
on 15 March 1999
(expiry date: 19 January
2010);
- Lily The Flower Shop
(Sub C.R. No. 823-17): Registered
on 09 December 2000
(expiry date: 9 December
2012);
- Ali Rashid Alamin Establishment
(Sub C.R. No. 823-18): Registered
on 07 June 2000
and was deleted on 07 June 2001;
- Alamin Gradens
(Sub C.R. No. 823-19): Registered
on 17 April 2003
(expiry date: 17 April 2012);
- Ali Rashid Al Amin Industries Co
BSC
(Sub C.R. No. 823-20): Registered
on 23 September 2004
(expiry date: 23 September 2012);
- Midway Supermarket
(Sub C.R. No. 823-21): Registered
on 10 August 2005
(expiry date: 10 August 2012);
- Lily The Flower Shop
(Sub C.R. No. 823-22): Registered
on 14 September 2005
(expiry date: 14 September
2012);
(Sub C.R. No. 823-23): Registered
on 19 November 2007
(expiry date: 19 November 2012);
- Alamin Gardens
(Sub C.R No. 823-24): Registered on
30 July 2009
(expiry date: 30 July 2012).
- All In One Restaurant
(Sub C.R. No. 823-25): Registered
on 7 December 2009;
(expiry date: 7 December 2012);
- Midway Petit
(Sub C.R No. 823-26): Registered on
31 March 2011
(expiry date: 31 March 2012).
C.R.
No. : 823-2 (expiry date: 27 March 2013)
Chamber
of Commerce Membership No.: 756
Authorised
Capital : BD 1,500,000 (increased from BD 1,000,000 in March 2010)
Paid
up Capital : BD 1,000,000 (increased from BD 750,000 in March 2010)
Bahraini
Shareholding Company (closed joint stock company) with the
following
shareholders :
Value
of Shares Percentage
1.
Ali Rashid Al Amin
BD 375,000 50 %
Other Directorships: National Dairy Co,
Bahrain National
Holding Company BSC,
Bahrain National
Insurance Co and Rama
Kaza Traiding Co WLL
Shareholder in: National Dairy Co,
Bahrain
Sweet Water &
Beverages Co,
Bahrain National
Insurance
Co and Rama Kaza
Traiding
Co WLL
2.
Rashid Ali Rashid Alamin
BD 75,000 10 %
Other Directorships: Bahrain Sweet
Water & Beverages
Co, Rama Kaza
Traiding Co WLL
Shareholder in: Bahrain Sweet Water
&
Beverages Co, Rama Kaza
Trading Co WLL
Owner of: Halal Meat Marketing
&
Distribution Est
3.
Majed Ali Rashed Alameen BD
75,000 10 %
Other Directorships: Bahrain Sweet
Water & Beverages
Co and Rama Kaza
Trading Co WLL
Shareholder in: Rama Kaza Traiding Co
WLL
4.
Khaled Ali Rashed Alameen BD
75,000 10 %
Trading Co WLL
Shareholder in: Rama Kaza Traiding Co WLL
5.
Zayed Ali Rashid Aamin BD
75,000 10 %
Shareholder in: Rama Kaza Trading Co WLL
6.
Fatima Abdulrahman Almeer BD
37,500 5 %
(wife of Ali Rashid Al Amin)
7.
Lubna Ali Rashed Alameen BD
37,500 5 %
Shareholder in: Rama Kaza Trading Co WLL
All
above are Bahraini nationals.
Affiliated
companies of Ali Rashid Al Amin For Trade & Industry Bsc :
Associates
1.
A & B Logistics Services Co WLL
Road - Building : 1605 - 122
Block : 316
Manama
Telephone: (973) 1722 4807
2.
Halal Meat Marketing & Distribution Establishment
Flat : 3 Road - Building : 113 - 733
Block : 601
Manama
Telephone: (973) 1732 2200
3.
Rama Kaza Trading CO. W.L.L
Road - Building : 0113 - 00756
Block : 601
Manama
Telephone: (973) 1773 7999
Fax
: (973) 1773 7888
4.
Radco Trading
Saudi Arabia
5.
A.R. Industry
Doha
Qatar
ACTIVITIES
The
Company is involved in the following activities :
Importers,
wholesalers and retailers of fresh, chilled, dry, canned
and
frozen foodstuff, cosmetics, perfumes and general supermarket
merchandise
including light mobile plant, pumps, detergents and
accessories,
Agencies
held:Companhia Minuano De Alimentos (Brazil), Warner Lambert
Sal
(Lebanon), Fifty50 Foods Inc., Care Of International American
Supermarkets
Corp. (USA), Universal Robina Corporation (UK), Metrolab
Industries
, Inc (Philippines), Universal Food
Corporation
(Philippines),
Omar K. Alesayi And Co Ltd (Saudi Arabia), Marigold
Commodities
Corporation (Philippines), M.Y.San Biscuits Inc
(Philippines),
Rufina Patis Factory (Philippines), P.T. Musim Mas
(Indonesia),
Bonlac Foods Ltd (Australia), Kobayter SA (Spain), Fino
Foods
(Marios Christodoulou) (Cyprus), Ets Ducros & Fussa (France),
Silver
Swan Manufacturing Co Inc (Philippines), Fitrite Incorporated
(Philippines),
The National Foodstuffs Mfg Co Ltd (Saudi Arabia),
Conserves
Modernes Chtaura S.A.L. (Lebanon), Chesco Cheese Amba
(Denmark),
Stanfood Corporation (Philippines) Rivoire Carret
(France),
Coparel (France) and The Mennen Co. (USA), Apple Rice
(Pakistan).
Imports
from France, Germany, Switzerland, UK, Turkey, India,
Pakistan,
Japan, Singapore, Hong Kong, Taiwan, China, South Korea and
USA.
Exports
to Saudi Arabia and Qatar.
FACILITIES
The
Company has the following facilities :
Several
medium-sized leased offices and a retail showroom located at
the
heading address, as well as storage facilities elsewhere in the
area,
including Muharraq and Riffa. Subject also has branch offices
located
in different parts of Bahrain (see "Branch Offices" section
below)
and has a total of 12 supermarkets (nine of which are owned by
the
company and the other three are rented properties).
BRANCH OFFICES
1. Municipality Road
Muharraq
Telephone: (973) 1732 0384
2. Riffa Highway
Riffa
Telephone: (973) 1766 3594
3. Sheikh Khalifa Bin Salman Street
Muharraq
Telephone: (973) 1732 2440
4. Hidd
Manama
Telephone: (973) 1725 3100
5. Avenue No. 44
Arad
Telephone: (973) 1767 5557
6. Salmaniyah
Manama
Telephone: (973) 1723 4015
7. Hamad Town
Telephone: (973) 1761 1595
8. Saar
Telephone: (973) 1779 0740
9. Ras Rumman
10.
Gwdaibiya
11.
Central Market
12.
Seef Area.
SPECIAL NOTE
You
enquired on: ALI RASHID AL AMIN FOR TRADE AND INDUSTRY. Please note that the
correct name is as per heading.
Interviewed:
K.P. Sudesh (Financial Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
|
UK Pound |
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.62.60 |
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 |
|
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.