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Report Date : |
29.10.2014 |
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, Sheikh Salman
Highway, Sehla Area, P O Box: 74, Manama |
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Country : |
Bahrain |
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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, Manama |
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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 & Home Appliances Division · Building Materials Division |
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No. of Employees : |
700 |
RATING & COMMENTS
|
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 : |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bahrain |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 : AJM
KOOHEJI GROUP BSC CLOSED
You Requested : AJM KOOHEJI GROUP BSCC – BUILDING
MATERIAL DIVISION
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
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.
Please note that
the correct PO Box number is 74 and not 54.
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
·
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
Tel:
(973-17) 700007
Fax: (973-17)
702587
Engaged
as retailers of building materials, sanitary ware, ceramics and floor
coverings.
The
Building Materials Division in AJM Kooheji Group currently represents Imola
Ceramica from Italy, Laufen
Bathrooms
from Switzerland, Grohe Mixers & Accessories from Germany, Nobilia Kitchens
from Germany, Teuco
Jacuzzis
and Shower Products from Italy, Egger Laminated Wood Flooring from Austria and
Haro Engineered
Wooden
Flooring from Germany.
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.
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.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
-- |
|
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.