MIRA INFORM REPORT

 

 

Report Date :           

25.07.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ABDULLA AHMED BINHINDI CO BSC (C)

 

 

Registered Office :

Bin Hindi Complex Building (KIA Showroom),  Sheikh Salman Highway, No 264, Block 356,  Khamis Area, P.O. Box  632,  Manama

 

 

Country :

Bahrain

 

 

Date of Incorporation :

21.04.1965

 

 

Com. Reg. No.:

829-1

 

 

Legal Form :

Closed Joint Stock Company

 

 

Line of Business :

Subject operates through the Tyres, Batteries, Accessories & Lubricants, Heavy Vehicles, Light Vehicles, Special Projects Division, Investment Division

 

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 :

BD 500,000

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Bahrain

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

ABDULLA AHMED BINHINDI CO BSC (C) (Correct)

A A Bio Hindi (Requested)

 

 

company ADDRESS

 

Building             :  Bin Hindi Complex Building (KIA Showroom)

Street                           :  Sheikh Salman Highway, No 264, Block 356

Area                             :  Khamis Area

P.O. Box           :  632

Town                 :  Manama

Country             :  Bahrain

Telephone         :  (973) 1740 8000 / 1740 8065 (Santosh Karkera) / 1725 4934

Fax                   :  (973) 1740 0761

E-Mail                           :  santosh@binhindi.com

Website            :  www.binhindi.com

 

Also Known As :  A. A Bin Hindi / A.A. Bin Hindi B.S.C. (C) / A.A. Bin Hindi Group

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Abdullah Ahmed Bin Hindi                   Chairman

 

2. Ahmed Abdullah Bin Hindi                   President / Chief Executive Officer

 

3. Santosh Karkera                                Financial Controller

 

4. Najim Ali Al Manai                              Personnel Manager

 

5. Hafiz Khan                                         Manager / Heavy Equipment Division

 

6. Thomas John                                     After Sales & Services Division Manager

 

7. Zinath Tarkar                                      Administrator

 

Total Employees :          352 (subject)

                                    500 plus (group)

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers

or banks.

 

Subject is a well-established company operating since 1965.

 

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

 

Opinion on maximum credit : BD 500,000

 

Trade risk assessment : Normal

 

 

TRADE REFERENCES

 

NAME     : SILLA SRL

Street   : VS Giminiano Loc Elsa 

Town     : Poggibonsi (Siena)

Country  : Italy

 

NAME     : JOHN DEERE COMPONENT WORKS

Street   : 400 Westfield

Town     : Waterloo IA

Country  : USA

 

NAME     : SUMITOMO RUBBER INDUSTRIES LTD

Town     : Tokyo

Country  : Japan

 

 

PRINCIPAL BANKERS

 

NAME     : AHLI UNITED BANK BSC

Branch   : Main branch

Street   : 126 Government Avenue

P.O. Box : 2424

Town     : Manama

 

Telephone: (973) 1722 0555

Fax      : (973) 1722 0552

 

The Company also has an account with the following banks :

 

1. BNP Paribas

   Diplomatic Area - UGB Building

   PO Box 5253

   Manama

   Telephone: (973) 1753 1152

   Fax      : (973) 1753 1237

 

2. Bank of Bahrain and Kuwait

   Diplomatic Area

   Opposite Batelco Bldg

   Manama

   Telephone: (973) 1753 4008

   Fax      : (973) 1753 5683

 

3. HSBC Bank Middle East Limited

   Al Khalifa Avenue

   PO Box 57

   Manama

   Telephone: (973) 1722 4555

   Fax      : (973) 1722 6822

 

4. National Bank of Bahrain

   Government Avenue

   PO Box 106

   Manama

   Telephone: (973) 1722 8800

   Fax      : (973) 1722 8998

 

5. Bank of Bahrain & Kuwait (BBK)

   43 Government Avenue

   PO Box 597

   Manama

   Telephone: (973) 1722 3388

   Fax      : (973) 1722 9822

 

6. Standard Chartered Bank

   Government Avenue

   PO Box 29

   Manama

   Telephone: (973) 1722 3636

   Fax      : (973) 1722 5001

 

 

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 35,000,000 - 2006 - exact

               : BD 40,000,000 - 2007 - exact

               : BD 30,000,000 – 2008 – exact

               : BD 31,000,000 – 2009 – exact

               : BD 39,000,000 – 2010 – exact

               : BD 45,000,000 – 2011 - projected

 

Net Profit     : not given but stated to be 4% of the sales turnover.

 

* Decrease in sales turnover in 2008 and 2009 was due to the global economic downturn and unfavourable market conditions.

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 21 April 1965

 

History : Subject was established in Bahrain on 21 April 2004 under

registration number 829-1 as a proprietorship owned by Abdullah Ahmed Bin Hindi. In January 2005 subject was reregistered and changed its legal status to a Closed Joint Stock Company.

         

Since its establishment subject registered the following branches/divisions :

                   

- Abdulla Ahmed Isa Binhindi 

 (Sub C.R. No. 829-3): Registered on 23/02/1985;

                     

- Abdulla Ahmed Binhindi

 (Sub C.R. No. 829-4): Registered on 15/01/1985;

                    

- Abdulla Ahmed Bin Hindi B.S.C (Closed)

 (Sub C.R. No. 829-5): Registered on 13/10/1993;

                   

- Abdullah Ahmed Bin Hindi

 (Sub C.R. No. 829-6): Registered on 14/11/1994;

                   

- Abdullah Ahmed Bin Hindi

 (Sub C.R. No. 829-7): Registered on 26/02/1997;

                     

- Abdullah Ahmed Bin Hindi

 (Sub C.R. No. 829-8): Registered on 18/03/1997;

         

- Abdulla Ahmed Isa Binhindi 

 (Sub C.R. No. 829-9): Registered on 23/06/1998;

                     

- Abdulla Ahmed Bin Hindi B.S.C. (Closed)

 (Sub C.R. No. 829-10): Registered on 20/09/2003;

                    

- Quick Fix

 (Sub C.R. No. 829-11): Registered on 19/01/2004 and was sold or             

  changed legal type on 19/01/2007;

                  

- A.A. Bin Hindi          

 (Sub C.R. No. 829-12): Registered on 26/12/2005;

                   

- A.A. Bin Hindi

 (Sub C.R. No. 829-13): Registered on 16/08/2006;

                     

- Bin Hindi Motors

 (Sub C.R. No. 829-14): Registered on 27/08/2006;

         

- Abdulla Ahmad Binhindi Co. B.S.C. (Closed)

 (Sub C.R. No. 829-15): Registered on 10/09/2006;

                   

- A.A. Bin Hindi B.S.C (Closed)

 (Sub C.R. No. 829-16): Registered on 14/01/2007;

                     

- A.A. Bin Hindi B.S.C (Closed)

 (Sub C.R. No. 829-17): Registered on 09/08/2007;

 

- A A Bin Hindi

 (Sub C.R. No. 829-18); Registered on 02/11/2009.

 

C.R. No. : 829-1 (expiry date: 21 April 2012)

 

BCCI Membership No.: 957

 

Authorised Capital : BD 5,500,000

 

Paid-Up Capital : BD 5,130,000

 

Bahraini Shareholding Company (closed joint stock company) with the

following shareholders :

 

                                                            Percentage

 

1. Abdulla Ahmed Isa Almannaei                      53%

 

2. Ahmed Abdulla Ahmed Almannaei              9%

 

3. Khalid Abdulla Ahmed Binhindi                    9%

 

4. Abdulaziz Abdulla Ahmed Binhindi              9%

 

5. Nawaf Abdulla Ahmed Binhindi                    9%

 

6. Naela Ahmed Abdulla Almannaei                 6.5%

 

7. Lulwa Abdulla Ahmed Almannai                   4.5%

 

* All of the above are Bahraini nationals

 

Personal Profile on Abdullah Ahmed Bin Hindi :

 

Businessman and contractor having over 33 years of experience and a

good business reputation, he is also a member of Consultative Council

to the State of Bahrain.

 

Associates

 

1.  Bin Hindi Car Care Co SPC

    C.R. No. : 60824-1

 

2.  Bin Hindi Leasing W.L.L.

    C.R. No. : 42880-1

 

3.  Bin Hindi Transport Company SPC

    C.R. No. : 62548-1

 

4.  Bahrain Industrial Group Co BSC (C)

    C.R. No. : 63362-1

 

5.  Cars Transport Corporation W.L.L

    C.R. No. : 49994-1

 

6.  Bahrain Import And Export Company (Closed)

    C.R. No. : 54786-1

 

7.  Bahrain District Cooling Company B.S.C. (Closed)

    C.R. No. : 54819-1

 

8.  Bin Hindi Informatics

    C.R. No. : 30578-1

 

9.  Plasma Pro Co. WLL

    C.R. No. : 54347-1

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Subject operates through the following divisions :

 

- Tyres, Batteries, Accessories & Lubricants

  This division offers a range of automotive aftermarket products     

  like Tyres, Batteries, Accessories, Lubricants and vehicle 

  performance enhancing products of world-renowned brands. The  

  activities of the Division is managed from its Salmabad Office and

  the Warehouses are located at Mameer. 

 

- Heavy Vehicles

  This division caters to a broad spectrum of requirements with a

  variety of applications ranging from Light Commercial Vehicles to

  heavy Commercial Vehicles- Public utility to public security,

  logistics to long overhaul, Distributions to Emergency. The

  Divisions after sales service provides service packages,

  comprehensive maintenance package or tailor- made solutions as per

  the customers’ requirements.

 

  Besides, the heavy Vehicles Division is also engaged in long term  

  lease of Vehicles with an option to purchase at the end of the

  contract.

 

  The Division also deals in Renault Used trucks and has been doing

  exceedingly well in this area.

 

- Light Vehicles

  This division is an exclusive distributor for Kia Motors, which

  includes passenger cars and light commercial vehicles.

 

  The division's roots could be traced back to 1987 when it signed

  dealership rights for Lada. The signing of a sole distributorship

  in 1990 with the Korean giants KIA and ASIA proved a turning point

  in the development of this division.

 

- Special Projects Division

  This division offers a package solution to its customers at a

  competitive price with highest ethical standards. Being a

  representative of world’s leading companies in Electrical &

  Mechanical equipment,

 

  Activities include for supply of material, mechanical and

  electrical equipment and this division has implemented Projects

  with various Ministries, Power & Water utilities, Electromechanical

  contractors and private Industries. As an agent for U.S. Pipe &

  Foundry, the division is one of the major suppliers of ductile iron

  pipe and fittings to Electricity and Water Authority in Bahrain for

  the last fifteen years.

 

- Property Management

 

- Construction & Equipment Division

  This division was started in early 1960s representing the O&K brand

  of earthmoving machinery through which it was able to make its mark 

  as a reputable trading company providing strong aftermarket support

  for the business lines it had represented.

 

- After Sales & Services

 

- QuickFix

  QuickFix commenced its operations in December, 2003. The QuickFix

  outlets at Salmabad and Sehla consist of state-of-the-art

  equipment, fully computerised systems backed by a highly-skilled

  and well-qualified team of professionals.

 

  QuickFix offers professional services in High Resolution Digital  

  Video Camera Wheel Alignment, Vibration Control, Tyre Changing and

  Oil, lubricant & battery services.

 

- Enaya

  The state-of-the-art newly Car Care Centre built over an expanse of

  6000 sq. m. located in Wadi Al Sail petrol station is the first of

  its kind in Bahrain.  The project inaugurated recently by H.E. Dr.

  Shaikh Mohammed Bin Abdulla Al Khalifa – State Minister for Defense

  Affairs is conceived fabulously to render quality automotive

  Services with utmost care. 

 

  It is a modern, world class car care centre in the Kingdom of 

  Bahrain and has been built in association with the Military

  Consumer & Economic Association.

 

- Investment Division

  This division is responsible for coordinating the activities of the

  entire group and ensuring its profitability.

 

  The Real Estate & Investment Division also handles purchase, sale 

  and investment in shares, mutual bonds, treasuries, etc. in local

  markets as well as purchasing and renting of various types of

  properties.

 

- Automobile Body Shop

  A. A Bin Hindi Body Repair Center has one of best collision repair

  facilities in Bahrain, with high quality Denting and Pulling Tools,

  computerized frame straightening equipment, downdraft spray booths

  and high quality craftsmanship.

 

NACE Code: 4511 / 4519 / 4531 / 4532 / 7711

 

Subject previously operated as Cable and pipe-laying contractors. 

 

Imports from India, China, South Korea, USA, Sweden, UK and Germany.

 

The Company does not export, all sales are domestic.

 

A full list of agencies held:

 

- Elnasr Castings Co, Egypt

- Saipa Yadak Trading Company, Iran

- United States Pipe And Foundry Company Inc, USA

- Saipa Corporation, Iran

- The Industrual Engineering And Metal Structuers Co, UAE

- Diamant Boart S.A, Belgium  

- The Standard Botteries Ltd, India   

- Flame Control Coatings Inc, USA

- Toyo Umpanki Company Ltd, Japan   

- Renault Vehicules Industriels S.A, France   

- Toyo Umpanki Co Ltd (Tcm), Japan  

- Auto Crane Company, USA

- Varisco Pompe S.P.A, Italy  

- J.K. Industries Ltd., India 

- Asia Motors Co Inc, Korea Republic of  

- Kia Motors Corp, Korea Republic of 

- M.S Kirloskar Pneumatic Co Ltd, India 

- Scaldia . Volga, Belgium   

- Kent Air Tool Company, USA

- Auto Dacia Company Middle East, Italy  

- Thomas Equipment Ltd, Canada 

- Silla Machine Edili E Stradali S.P.A., Italy 

- Wakita And Co. Ltd., Japan  

- Eurab Corporation Ltd., Switzerland 

- John Deere Intercontinental Ltd., USA

- T. Kida & Company Ltd, Japan

- O & K Orenstein & Koppel Aktiengesellschaft, Germany 

- The Furukawa Battery Co. Ltd, Japan   

- Sumitomo Shogi Kaisha Ltd, Japan 

- Sumitomo Rubber Industries Ltd., Japan 

- Ms Kleber, France

- Lombardini Motori Spa, Italy

- M.S. Tonge And Taggart Ltd., United Kingdom

 

 

FACILITIES

 

The Company has the following facilities :

 

Owned premises comprising administrative offices and a car showroom with storage facilities located at the heading address as well as other showrooms, outlets and service centres located throughout Bahrain (see Branch Offices section).

 

The company formerly operated from the Sheikh Rashid Building, Lulu

Road, opposite the Central Market and moved to the present address

in May 1986.

 

 

BRANCH OFFICES

 

1. Light Vehicles - Sales (KIA Cars and SUVs)

   Kia Showroom

   Telephone: (973) 1740 8800

   Fax      : (973) 1740 0761

 

2. Tyres, Batteries & Accessories

   KIA Service Centre Complex,

   Bldg 346, Road 411,

   Salmabad 704,

   Telephone: (973) 1778 6543

   Fax      : (973) 1778 6502

 

3. Warehouse

   Bldg 16, Road 3501,

   Mameer 635,

   Telephone: (973) 1770 0093

   Fax      : (973) 1770 1432

 

4. Light Vehicles - Services & Spare parts

   KIA Spare Parts - Salmabad

   Bldg. # 1239,Shop # 43A,

   Block No.704,

   Road No.411,

   Salmabad Road

   Telephone: (973) 1778 5988

   Fax      : (973) 1778 4516

 

5. KIA - Spare Parts - Arad (Google Map)

   Bldg # B0769,

   Road # 4321,

   Arad 0243

   Telephone: (973) 1767 8111

   Fax      : (973) 1767 1502

 

6. KIA - Service (Google Map)

   KIA Service Centre Complex,

   Bldg 346, Road 411,

   Salmabad 704,

   Telephone: (973) 1778 5977

   Fax      : (973) 1778 9238

 

7. Automobile Body Shop

   LV - Body Shop

   Bldg 350, Road 422,

   Salmabad 704,

   Telephone: (973) 1778 9754

   Fax      : (973) 1787 4161

 

8. Mobile/IT Showroom

   Exibition Avenue,

   Telephone: (973) 1729 1156 (IT)/ 1731 1655 (GSM)

   Fax      : (973) 1729 7363

 

9. IT-Service

   Exibition Avenue,

   Telephone: (973) 1731 0444

   Fax      : (973) 1731 1646

 

10.BHI-Warehouse (Google Map)

   Tubli- Bldg No:946,

   Rd no:126,Bl No:701,

   Telephone: (973) 1778 6366

   Fax      : (973) 1778 4805

 

11.Heavy Vehicles

   HV - Sales

   Bldg 977, Road 3402,

   Block 634 Al Mameer,

   Telephone: (973) 1770 1298

   Fax      : (973) 1770 1889

 

12.HV - Service

   Bldg 55, Road 3501,

   Block 635 Al Mameer,

   Telephone: (973) 1770 2503

   Fax      : (973) 1770 2473

 

13.Renault Truck Work Shop (Google Map)

   Bldg 55, Road 3501,

   Block 635 Al Mameer,

   Telephone: (973) 1770 2503

   Fax      : (973) 1770 2473

 

15.Construction and Industrial Equipments

   CIE-Sales

   Bldg 977, Road 3402,

   Block 634 Al Mameer,

   Telephone: (973) 1770 3078

   Fax      : (973) 1770 1889

 

16.CIE-Service

   Bldg 55, Road 3501,

   Block 635 Al Mameer,

   Telephone: (973) 1770 2053 / 1770 3097

   Fax      : (973) 1770 2473

 

17.Special Projects

   Telephone: (973) 1740 8000

   Fax      : (973) 1740 0761

 

18.Sixt - Car Rental

   Sixt-Exhibition Rd.

   Telephone: (973) 1771 1770

   Fax      : (973) 1771 1766

 

19.Sixt-Airport

   Telephone: (973) 1732 9338

   Fax      : (973) 1732 9318

 

20.Quick Fix

   Telephone: (973) 3915 9640

   Fax      : (973) 1778 6502

 

21.Enaya

   Wadi Al Sail Filling Station,

   Opposite BDF hospital.

   Telephone: (973) 1741 4190

 

 

SPECIAL NOTE

 

You enquired on : A A Bio Hindi. Please note that subject's correct registered name is as per heading.

 

Interviewed: Santosh Karkera (Financial Controller)

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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.