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Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ABDULLAH AHMED BIN HINDI CO BSCC |
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Registered Office : |
Bin Hindi Complex, Flat No. 33, Building No. 264, Block 356, Sheikh Salman Highway, Al Salhiya
Area, PO Box 632 & 350, Manama |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
21.04.1965 |
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Com. Reg. No.: |
829 |
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Legal Form : |
Bahraini Shareholding Company Closed |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Automobile Division ·
Truck Division ·
Spare Parts Division ·
Service Centre Division ·
Civil Engineering /
Construction Division |
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No of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Bahrain |
B1 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BAHRAIN - ECONOMIC OVERVIEW
Bahrain has made great efforts
to diversify its economy; its highly developed communication and transport
facilities make Bahrain home to numerous multinational firms with business in
the Gulf. As part of its diversification plans, Bahrain implemented a Free
Trade Agreement (FTA) with the US in August 2006, the first FTA between the US
and a Gulf state. Bahrain's economy, however, continues to depend heavily on
oil. In 2012, petroleum production and refining accounted for 77% of Bahrain's
export receipts, 87% of government revenues, and 19% of GDP. Other major
economic activities are production of aluminum - Bahrain's second biggest
export after oil - finance, and construction. Bahrain competes with Malaysia as
a worldwide center for Islamic banking and continues to seek new natural gas
supplies as feedstock to support its expanding petrochemical and aluminum
industries. In 2011 Bahrain experienced economic setbacks as a result of
domestic unrest, however, the economy recovered in 2012-13, partly as a result
of improved tourism. Some economic policies aimed at restoring confidence in
Bahrain's economy, such as the suspension of an expatriate labor tax and
frequent bailouts of Gulf Air, will make Bahrain's long-term economic
challenges - youth unemployment and the growth of government debt - more
difficult to address.
|
Source
: CIA |
Company Name :
ABDULLAH AHMED BIN HINDI CO BSCC
Doing Business As :
A A BIN HINDI BSC C
Country of Origin :
Bahrain
Legal Form :
Bahraini Shareholding Company Closed - BSCC
Registration Date :
21st April 1965
Commercial Registration Number :
829, Manama
Issued Capital :
BD 5,130,000
Paid up Capital :
BD 5,130,000
Total Workforce :
120
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ABDULLAH AHMED BIN HINDI CO BSCC
DOING BUSINESS AS: A A BIN HINDI BSCC
Registered &
Physical Address
Building : Bin Hindi Complex,
Flat No. 33, 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
/ ahmed@binhindi.com
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
Name Position
Abdullah Ahmed Isa Al Mannai Managing
Director
Ahmed Abdullah Ahmed Al Mannai Director
Nawaf Abdullah Ahmed Al Mannai Director
Khalid Abdullah Ahmed Al Mannai Director
A Aziz Abdullah Ahmed Al Mannai Director
Naela Ahmed Abdullah Al Mannai Director
Lulwa Abdullah Ahmed Al Mannai Director
Stanley Isaac Sales
Manager
Date of Establishment : 21st
April 1965
Legal Form : Bahraini
Shareholding Company Closed - BSCC
Commercial Reg. No. : 829, Manama
Mem No. : 957
Issued Capital : BD 5,130,000
Paid up Capital : BD 5,130,000
Name of
Shareholder (s) Percentage
Abdullah Ahmed Isa Al Mannai 53.0%
Ahmed Abdullah Ahmed Al Mannai 9.0%
Nawaf Abdullah Ahmed Al Mannai 9.0%
Khalid Abdullah Ahmed Al Mannai 9.0%
A Aziz Abdullah Ahmed Al Mannai 9.0%
Naela Ahmed Abdullah Al Mannai 6.5%
Lulwa Abdullah Ahmed Al Mannai 4.5%
Bin Hindi Informatics WLL
Sheikh Salman Road
PO Box : 11628
Manama
Tel : (973) 404234 / 408050
Fax : (973) 400761 / 408054
Commercial registration no. 30578
MBM-Alam Flora WLL
PO Box: 2234
Manama
Tel: (973-17) 244888
Fax: (973-17) 241477
CARS Transport Corp. WLL
PO Box: 33488
Manama
Tel: (973-17) 345577
Fax: (973-17) 341410
Bin Hindi Leasing WLL
Plasma Pro Co. WLL
Bahrain Import And Export Company
Bahrain District Cooling Company BSC
Bin Hindi Transport Company SPC
Bin Hindi Car Care Co SPC
Bahrain Industrial Group Co BSC (C)
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.
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:
Renault France
Genelac France
Cofran France
O & K Germany
Diamant Boart Belgium
Lombardini Engines Italy
Kent hydraulic breakers Netherlands
Kirloskar India
Meiho Japan
Denyo Japan
Sumitomo Japan
Federal Tyres Taiwan
Kia South
Korea
John Deere United
States of America
Auto Crane Company United
States of America
Thomas Canada
Operating Trend: Steady
Subject has a workforce of approximately 120 employees.
Financial highlights provided by local sources are given below:
Currency: Bahraini Dinar (BD)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales BD
7,200,000 BD 7,600,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Al Ahli Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17) 244333
Fax: (973-17) 241301
Standard Chartered Bank
Standard Chartered Bank Building
Government Road
PO Box: 29
Manama
Bahrain
Tel: (973-17) 223636 / 255946
Fax: (973-17) 230503
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
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.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.70 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
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 |
|
-- |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.