MIRA INFORM REPORT

 

 

Report Date :           

03.05.2011

 

IDENTIFICATION DETAILS

 

Name :

BAHMAN GENERAL TRADING & CONTRACTING CO WLL

 

 

Registered Office :

Bahman Building, Canada Dry Street, Shuwaikh Industrial Area, P O Box   327, Safat 13004

 

 

Country :

Kuwait

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.01.1960

 

 

Com. Reg. No.:

90790, Safat

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject operates through  several divisions General Trading Division and General Contracting 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 :

US$ 300,000

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : BAHMAN GENERAL TRADING & CONTRACTING CO WLL

Country of Origin                                    : Kuwait

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 27th January 1960

Commercial Registration Number            : 90790, Safat

Trade Licence Number                            : 2536/2002

Chamber Membership Number                : 334

Issued Capital                                        : KD 100,000

Paid up Capital                                      : KD 100,000

Total Workforce                                     : 140

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 300,000

 

COMPANY NAME

 

BAHMAN GENERAL TRADING & CONTRACTING CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Bahman Building

Street               : Canada Dry Street

Area                 : Shuwaikh Industrial Area

PO Box             : 327

Town                 : Safat 13004

Country             : Kuwait

Telephone         : (965) 24814140 / 22421952 / 24813055

Facsimile          : (965) 24813873

Email                : bahman@kuwait.net / bahman@qualitynet.kw

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are owned and located in the Industrial Area of Safat.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdul Hussain Haji Bahman                                                               Managing Director

 

·       Ali Abdul Hussain Bahman                                                                 Director

 

·       Haroun Abdul Hussain Bahman                                                          Director

 

·       Mousa Abdul Hussain Bahman                                                           Director

 

·       Mohamed Khalil                                                                                Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th January 1960

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 90790, Safat

 

Trade Licence No.       : 2536/2002

 

Chamber Member No. : 334

 

Issued Capital              : KD 100,000

 

Paid up Capital            : KD 100,000

 

Name of Shareholder (s)

 

·       Abdul Hussain Haji Bahman

 

·       Ali Abdul Hussain Bahman

 

·       Haroun Abdul Hussain Bahman

 

·       Mousa Abdul Hussain Bahman

 

 

AFFILIATED COMPANIES

 

·       Mousa Bahman Est

 

·       Gulf Supply Co

 

·       Bahman International Travel Co

 

·       Al Omraniah Co Ltd

 

·       Bahman International Cargo

 

·       Bahman Shipping & Marine Co

 

·       Arab Building Material Co

 

·       Bahman Discovery

 

·       Bahman Real Estate

 

·       Bahman & Moujaes

Brazil

 

·       Hansa Ueberseehandel

Germany

 

·       Sarcome Trading & Investments SA

Romania

 

·       Bahman Coh Co

Iran

 

·       Bahman Foundation

Lebanon

 

·       Bahman General Trading LLC

United Arab Emirates

 

·       Bahman Group FZCO

United Arab Emirates

 

·       Bahtco Forest

Romania

 

·       Bahtco Agency

Romania

 

·       Al Borz Kooh Ariya Co

Iran

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       General Trading Division

 

     Engaged in the import and distribution of hardware, sanitary ware products and general foodstuffs.

 

·       General Contracting Division

 

Engaged as general building and construction contractors as well as the supply of construction materials.

 

Import Countries: Europe and GCC countries.

 

Operating Trend: Steady

 

Subject has a workforce of 140 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Kuwaiti Dinars (KD)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                KD 3,600,000                            KD 3,750,000

 

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

 

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

 

 

BANKERS

 

·       National Bank of Kuwait SAK

Ali Awadi Tower

Ahmed Al Jaber Street

PO Box: 95

Safat 13001

Tel: (965) 23981188 / 23981189

     Fax: (965) 23985643

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.73.89

Euro

1

Rs.65.57

 

 

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.