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Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
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Name : |
AJM KOOHEJI GROUP BSC CLOSED |
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Registered Office : |
Building No. 1096, Plot No. 368, Road No. 6833, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
08.05.1975 |
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Com. Reg. No.: |
341-1 |
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Legal Form : |
Bahraini Shareholding Company Closed BSC (C) |
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Line of Business : |
Subject’s
operations are performed through the following divisions: ·
Tyres Division ·
Marine Division ·
Furniture Division ·
Electronics s& Home Appliances Division ·
Building Materials Division |
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No of Employees : |
700 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 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 : AJM KOOHEJI GROUP BSC CLOSED
Country of Origin :
Bahrain
Legal Form :
Bahraini Shareholding Company Closed BSC (C)
Registration Date :
8th May 1975
Commercial Registration Number :
341-1, Manama
Chamber Membership Number :
323
Issued Capital :
BD 7,000,000
Paid up Capital :
BD 7,000,000
Total Workforce :
700
Activities :
Subject operates several divisions (see below for details)
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Shashi Malhotra, Finance Manager
AJM KOOHEJI GROUP BSC CLOSED
Registered & Physical Address
Building : Building No.
1096, Plot No. 368
Street : Road No.
6833, Sheikh Salman Highway
Area : Sehla Area
PO Box : 74
Town : Manama
Country : Bahrain
Telephone : (973-17) 403304
Facsimile : (973-17)
403800
Mobile : (973-39)
147575
Email : ho@ajmkooheji.com
Please note that subject’s previous address was, Building No. 7791,
Complex No. 608, Road No. 51, Manama.
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Manama.
Branch Office (s)
Location Description
Sitra Highway Rented
showroom premises
Manama
Tel: (973-17) 736289
Name Position
Abdul Hamid Abdul Jabbar Kooheji Managing
Director
Abdullah Abdul Jabbar Kooheji Director
Mahmood Abdul Jabbar Kooheji Director
Jamal Abdul Jabbar Kooheji Director
Mohamed Abdul Jabbar Kooheji Director
Salim Abdul Jabbar Kooheji Director
Issa Abdul Jabbar Kooheji Director
Shashi Malhotra Finance
Manager
Rohit Rania Administration
Manager
Sanjev Sirvaz Commercial
Manager
Date of Establishment : 8th
May 1975
Legal Form : Bahraini
Shareholding Company Closed BSC (C)
Commercial Reg. No. : 341-1, Manama
Chamber Member No. : 323
Issued Capital : BD 7,000,000
Paid up Capital : BD 7,000,000
Name of
Shareholder (s) Percentage
Jammal Al Kooheji and Co Holding
Co BSC Closed 14.285%
Bahrain
Saleem Al Kooheji and Co Holding Co BSC Closed 14.285%
Bahrain
Abdulhameed Al Kooheji and Co Holding Co BSC Closed 14.285%
Bahrain
Abdulla Al Kooheji and Co Holding Co BSC Closed 14.285%
Bahrain
Isa Al Kooheji and Co Holding Co BSC Closed 14.285%
Bahrain
Mohamed Al Kooheji and Co Holding Co BSC Closed 14.285%
Bahrain
Mahmood Al Kooheji and Co Holding Co BSC Closed 14.285%
Bahrain
Delmon Furniture Factory WLL
Manama
Tel: (973-17) 700999
Fax: (973-17) 701991
Secco Kooheji Co WLL
Hawar International School WLL
Pearl Craft WLL
Manama
Tel: (973-17) 737747
Fax: (973-17) 732723
Activities: Subject’s operations are performed through the following divisions:
Tyres Division
Engaged in the import
and distribution of tyres and are agents for Bridgestone in Bahrain.
Marine Division
Kooheji Marine Division has been actively pursuing the design and
manufacture of marine engineering products. The division produces a range of
Outboard engines, Jet skis, Motorcycles, All terrain vehicles and Golf cars.
Agents for Yamaha Motors of Japan.
Furniture Division
Engaged as retailers of domestic furniture and furnishings specialising
in living room and bedroom furniture, as well as upholstery materials.
Electronics & Home Appliances Division
Engaged as retailers of domestic & commercial air-conditioners, home
appliances, televisions, audio-video, and mobile phones. Under this division
subject are the sole agents of LG in the Kingdom of Bahrain.
Building Materials Division
Engaged as retailers of building materials, sanitary ware, ceramics and
floor coverings.
Import Countries: Japan, South Korea, Malaysia and Europe.
International Suppliers:
Imola Italy
Kimgres Malaysia
Laufen Switzerland
Grohe Germany
Valli & Valli Italy
Nobilia Germany
Teuco Italy
Egger Austria
Haro Germany
Ravak Czech Republic
Operating Trend: Steady
Subject has a workforce of approximately 700 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
37,120,000 BD
38,400,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Shashi Malhotra, Finance Manager
Standard Chartered Bank
Standard Chartered Bank Building
Government Road
PO Box: 29
Manama
Bahrain
Tel: (973-17) 223636 / 255946
Fax: (973-17) 230503
Al Ahli Commercial Bank
Government Avenue
PO Box: 5941
Manama
Tel: (973-17) 244333
Fax: (973-17) 241301
No complaints regarding subject’s payments have been reported.
Date of transaction November
2013
Credit amount 116,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.61.04 |
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|
1 |
Rs.98.64 |
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Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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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 |
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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.