|
Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HASSAN MOHAMED
JAWAD & SONS BSCC |
|
|
|
|
Registered Office : |
Jawad House, 1st
Floor, 171 Sheikh Issa Road, Block 305, Bab Al Bahrain Area, P O Box 430
& 5896, Manama |
|
|
|
|
Country : |
Bahrain |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
04.04.1961 |
|
|
|
|
Com. Reg. No.: |
297, Manama |
|
|
|
|
Legal Form : |
Bahraini Shareholding Company (Closed) - BSCC |
|
|
|
|
Line of Business : |
subject operates through several
divisions which are as follow:- · Wholesale Division Jawad
Restaurants Jawad
Supermarkets Jawad
Fashion British
Home Stores (BHS) Dairy
Queen Jawad
Data Systems Jawad
Superfare |
|
|
|
|
No of Employees : |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Bahrain |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Bahrain ECONOMIC OVERVIEW
Bahrain has taken great strides in diversifying its economy and
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. Petroleum production and
refining account for more than 60% of Bahrain's export receipts, 70% of
government revenues, and 11% 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 is recovered in 2012-13, partly as a result of improved tourism.
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 : HASSAN MOHAMED JAWAD & SONS BSCC
Also Known As : JAWAD BUSINESS GROUP
Country of Origin : Bahrain
Legal Form : Bahraini Shareholding Company (Closed) - BSCC
Registration Date : 4th April 1961
Commercial Registration Number : 297, Manama
Chamber Membership Number : 254
Issued Capital : BD 4,432,027
Paid up Capital : BD 4,432,027
Total Workforce : 1,500
Activities : Subject operates several divisions (see below for details)
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sojoy Malek, Finance Manager
HASSAN MOHAMED
JAWAD & SONS BSCC
JAWAD BUSINESS
GROUP
Registered &
Physical Address
Building : Jawad House, 1st Floor
Street : 171 Sheikh Issa Road, Block 305
Area : Bab Al Bahrain Area
PO Box : 430 & 5896
Town : Manama
Country : Bahrain
Telephone : (973-17) 254080 / 254303 / 253032 / 247171
Facsimile : (973-17) 273866 / 273605
Mobile : (973-39) 177636 / 39302218 /
36488999
Email : santosh@jawad.com
Premises
Subject operates
from a large suite of offices that are owned and located in the Central Business
Area of Manama.
Branch Office (s)
Location Description
·
Jawad
Commercial Complex Owned
shopping complex
Budaiya Highway
Barbar
Tel: (973-17) 691010
Fax: (973-17) 697956
·
Jawad
Center Owned
shopping complex
Nwaidrat
Tel: (973-17) 700123
Fax: (973-17) 700254
·
Mina
Salman Port Warehouse
premises
Tel: (973-17) 700123
Fax: (973-17) 729225
·
Seef
Mall Rented
showroom premises
Manama
Tel: (973-17) 582258
Fax: (973-17) 582152
Name Position
·
Faisal
Hassan Mohamed Jawad Managing
Director
·
Fatima
Hassan Mohamed Jawad Director
·
Sabaah
Hassan Mohamed Jawad Director
·
Jawad Abdulaziz Alawi Director
·
Salem Abdulaziz Hassan Alawi Director
·
Hussain Abdulaziz Alawi Director
·
Bernard
Edmunds Director
·
Anil
Menezes Director
·
Rama
Krishnan General
Manager
·
Sayed
Noor Marketing
Manager
·
Reda
Shamseddine Sales
Manager
·
Sojoy
Malek Finance
Manager
·
J
Barakash Branch
Manager – Budaiya
Date of Establishment : 4th
April 1961
Legal Form :
Bahraini Shareholding
Company (Closed) - BSCC
Commercial Reg. No. : 297, Manama
Chamber Member No. : 254
Issued Capital : BD 4,432,027
Paid up Capital : BD 4,432,027
Name of Shareholder
(s) Percentage
·
Faisal
Hassan Mohamed Jawad 36.73%
·
Hassan
Jaffar Hassan Jawad 10.52%
·
Sabaah
Hassan Mohamed Jawad 10.09%
·
Naeema
Hassan Mohamed Jawad 7.48%
·
Zainab
Jaffar Hassan Jawad 4.89%
·
Treasure
Stock 4.87%
·
Rabab
Hassan Mohamed Jawad 3.34%
·
Fatima
Hassan Mohamed Jawad 2.14%
·
S Salim Abdulaziz Hussain Alawi 1.58%
·
S Hussain Abdulaziz
Hussain Alawi 1.58%
·
S Ali Abdulaziz
Hussain Alawi 1.58%
·
Sayed Redha Jawad Abdulaziz Alawi 1.38%
·
Judith Patricia Mccarthy Jawad 1.32%
·
Muzahem
Ali Hassan Mohamed Jawad 1.28%
·
Karim Faisal Hassan Jawad 1.28%
·
Jameel Faisal Hassan Jawad
1.28%
·
Sophia Faisal Hassan Mohamed Jawad 1.28%
·
Jawad Faisal Hassan Jawad 1.28%
·
Mohamed
Taqi Ali Hassan Jawad 0.93%
·
Abdulamir
Ali Hassan Jawad
0.82%
·
Hayat
Ali Hassan Mohamed Jawad 0.72%
·
Zahra
Ali Hassan Mohamed Jawad 0.64%
·
Iqbal
Ali Hassan Jawad 0.64%
·
Eatidal
Ali Hassan Jawad 0.64%
·
Abdulhameed
Ali Hassan Mohamed Jawad 0.58%
·
Kefaya
Ali Hassan Jawad 0.57%
·
Ameera
Ali Hassan Jawad 0.56%
·
Demon
Restaurant Management Services WLL
157 Sheikh Issa Avenue
PO Box: 5896 & 430
Manama
Tel: (973-17) 295060
Fax: (973-17) 292702
Activities: Subject’s operations are performed through
the following divisions:
Jawad is one of Bahrain's major wholesalers and distributors of fast
moving consumer goods. A fleet of dry and freezer goods delivery vehicles
distribute key agency products to more than 750 retail stores, hotels and
restaurants throughout the island. The distribution network is supported by a
professionally managed infrastructure which includes warehouse facilities at
Mina Salman Port.
Under this division, subject operates several fast food restaurants in
Bahrain under franchising agreements from leading international companies. Some
of these fast food restaurants include :
-
Magic Wok Chinese Restaurant
-
Round Table Pizza
-
Taco Mexicano
-
Chester Fried
This division also operates the Al Safina Seafood restaurant, which is one
of the finest seafood restaurants in Bahrain serving not only excellent
seafood, but also one of the outstanding restaurants for Continental Gourmet
food.
Under this division, subject owns and operates two shopping complexes
located in Nwaidrat and Barbar. The Jawad Commercial Complex in Barbar ,
Budaiya Road is complemented by an exclusively designed food garden, retail
outlets and the largest supermarket on the island. The Jawad Center in Nwaidrat
opened in December 1983 and houses a 2,250 square meter supermarket, as well as
a Bhs Department Store and the La Baguette bakery.
This division is engaged in the retail of a wide range of clothing items
and fashion accessories, representing a host of leading international fashion
outlets including, Monsoon, Mango, Miss Selfridge, Hush Puppies, Early Learning
Centre, Premaman, Applewoods, Oshkosh B’Gosh, KMS, Triumph, Shoe City,
Warehouse, Adams and Wallis.
Under this division subject operates a British Home Store (BhS)
department store under franchise from British Home Stores from the United
Kingdom. The department store is engaged in the retail of readymade garments
and household wares.
Distributors and retailers of a wide range
of dairy products. Sole distributors for Dairy Queen of the United
States of America.
Engaged in the retail of computer hardware
and software, electronic typewriters,
cartridges, copiers, floppy disks, data
cartridges, counting machines, printers and
portable computers.
Operators of the only two fun fares in Bahrain.
Import
Countries: Subject imports
products from around the world, particularly from the United States of America
and Europe
International
Suppliers:
·
Kraft
General Foods United
States of America
·
Borden
Inc United
States of America
·
American
Poultry International Ltd United
States of America
·
Libbys United
Kingdom
·
Arnotts
Biscuits Pty Ltd Australia
·
Saudi
Snack Foods Saudi
Arabia
Operating Trend: Steady
Subject has a
workforce of approximately 1,500 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 Revenue BD 145,160,305 BD 162,692,877
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Sojoy Malek, Finance Manager
·
National
Bank of Bahrain BSC
NBB Tower
Government Road
PO Box: 106
Manama
Tel: (973-17) 258800
Fax: (973-17) 263876
·
Bank of
Bahrain & Kuwait
43 Government Avenue
PO Box: 597
Manama
Tel: (973-17) 253388
Fax: (973-17) 275785
·
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
·
ABN
Amro Bank
Al Furdha Avenue
PO Box: 350
Manama
Tel: (973-17) 224896 / 225420
Fax: (973-17) 262241
·
Arab Bank Plc
Government Avenue
PO Box: 395
Manama
Tel: (973-17)
229988
Fax: (973-17)
2104437
·
Banque
Paribas
Commercial Area
PO Box: 5993
Manama
Tel: (973-17) 259272 / 253119
No complaints
regarding subject’s payments have been reported.
Amount overdue 0 0 0
Payment terms 60
days 60 days 60 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency US
Dollars Euros Euros
Hassan Mohamed
Jawad & Sons BSCC has been in business since 1961 and is a very well
established in the local business market with diversified interests. The
company represents over a hundred leading international organisations and
operates the largest supermarket in Bahrain.
The company is
owned by members of the Jawad family who are very wealthy and respected
Bahraini businessmen.
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.58.72 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.