MIRA INFORM REPORT

 

 

Report No. :

334070

Report Date :

07.08.2015

 

IDENTIFICATION DETAILS

 

Name :

BRUNEI INVESTMENT AGENCY

 

 

Registered Office :

12Fl Ministry of Finance Bldg (Bangunan Kementerian Kewangan) Commonwealth Drive, Bandar Seri Begawan BB3910

 

 

Country :

Brunei

 

 

Date of Incorporation :

July, 1983

 

 

Legal Form :

Government-Owned Organization

 

 

Line of Business :

Providing Financial Services - General

 

 

No. of Employees :

100

 

 

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

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Brunei

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

BRUNEI - ECONOMIC OVERVIEW

 

Brunei has a small well-to-do economy that depends on revenue from natural resource extraction but is also characterized by a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition. Crude oil and natural gas production account for 70% of GDP and more than 90% of exports, with Japan and Korea as the primary export markets. Per capita GDP is among the highest in the world, and substantial income from overseas investment supplements income from domestic hydrocarbon production. For Bruneian citizens, who pay no taxes, the government provides for all medical services and free education through the university level. The government of Brunei has been emphasizing through policy and resource investments its strong desire to diversify its economy both within the oil and gas sector and to new sectors. Brunei is a founding member of the 12-nation Trans-Pacific Partnership (TPP) free trade agreement negotiations as well as the Regional Comprehensive Economic Partnership (RCEP) and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

 

Organization Name

:

BRUNEI INVESTMENT AGENCY

Address

:

12Fl Ministry of Finance Bldg (Bangunan Kementerian Kewangan) Commonwealth Drive, Bandar Seri Begawan BB3910

Country

:

Brunei

Phone (S)

:

[+673]-2383535

Facsimile

:

[+673]-2383539

Email

:

lca@bia.com.bn

Website

:

http://www.mof.gov.bn

Primary Business Activity

:

Service

Key Industry

:

Financial Services - General

 

Key Facts

 

Operational Address

:

12Fl Ministry of Finance Bldg (Bangunan Kementerian Kewangan) Commonwealth Drive, Bandar Seri Begawan BB3910

License Number

:

Not Applicable(1)

License Status

:

No license is applicable.

Legal Form - Category

:

Government-owned Organization

Legal Form

:

Not Applicable

Legal Form - Abbreviation

:

Not Applicable

Operational Status of Business

:

Normal

Employees

:

100

Capital

:

n/a (2)

Note

:

(1) Not applicable.
Being a Government organization and formed through the process of legislation, no license number is applicable.

 

(2) Not applicable.
According to the corporate statutory laws for this type of Legal Form - Category(Government-owned Organization) in Brunei, there is no requirement for Authorized Capital.

 

 

DIRECTORS/MANAGEMENT

 

 Key Person

Legal Title

:

Chairman

Name

:

Haji Abu Bakar Bin Haji Apong

Nationality

:

Bruneian

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Ahmad Jefri Abdul Rahman

Bruneian

Director

Legal

2

Awang Khairuddin Bin Haji Abdul Hamid

Bruneian

Managing Director

-

3

Awang Junaidi Bin Haji Masri

Bruneian

Assist. Managing Director

-

4

Mr. Azmi Rahman

Bruneian

Senior Manager

-

5

Ms. Zabaidah Rahman

Bruneian

Representative

Human Resources

 

 

 

Management Details - 1

Personal Unique Identifier

:

MI03674253

Name

:

Mr. Ahmad Jefri Abdul Rahman

 

 

Management Details - 2

Personal Unique Identifier

:

MI02908210

Name

:

Awang Khairuddin Bin Haji Abdul Hamid

Identification Number(s)

      National ID No

:

00-076922

 

 

Management Details - 3

Personal Unique Identifier

:

MI03585527

Name

:

Awang Junaidi Bin Haji Masri

Other Positions

Country

Company name

Position

 

Brunei

BROOKETON SDN BHD

Director

 

 

 

 

Management Details - 4

Personal Unique Identifier

:

MI03585525

Name

:

Mr. Azmi Rahman

 

 

Management Details - 5

Personal Unique Identifier

:

MI03674254

Name

:

Ms. Zabaidah Rahman

 

 

COMPANY DIRECTORS

Not applicable - According to the corporate statutory laws for this type of Legal Form - Category (Government-owned Organization) in Brunei, there is no requirement for Directors.

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing BRUNEI INVESTMENT AGENCY's reputation within the respective industry failed to reveal any adverse information.

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

SHAREHOLDERS

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

BND - Brunei Dollars

 

No.

Shareholders

Country

Shares

Number

Amount (BND)

%

1

MINISTRY OF FINANCE

Brunei

n/a

n/a

100.00

Total

 

n/a

n/a

100.00

 

Today's Exchange rate

:

1.00 BND
Brunei Dollars

=

0.740741 USD
United States Dollars

 

 

PAYMENT INFORMATION

 

N/A

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Indirect Parent

:

STATE OF BRUNEI DARUSSALAM

Global Identifier

:

P1251761

Legal Form Category

:

Government-owned Organization

Country

:

Brunei

Operational Address

:

Istana Nurul Iman Jalan Tutong Bandar Seri Begawan BA1000

Primary Business Activity

:

Service

 

 

RELATED PARTIES (Subsidiaries, Joint-ventures & Affiliates)

 

The following provides a summary of the number of businesses that are related to BRUNEI INVESTMENT AGENCY:

 

TYPE

DOMESTIC

INTERNATIONAL

TOTAL

Africa

Asia / Pacific

Europe

Middle-East

North America

South America

TOTAL

Subsidiaries

-

-

1

-

-

-

-

1

Joint-Ventures

-

-

1

-

-

-

-

1

Minority shareholdings

-

-

2

-

-

-

-

2

Affiliates

3

-

-

-

-

-

-

-

Liaison / Representative Offices

-

-

-

-

-

-

-

-

 

Domestic

 

Business Entity Name

:

AUTORITI MONETARI BRUNEI DARUSSALAM

Global Identifier

:

P2568755

Country

:

Brunei

Relationship

:

Affiliate

Operational Address

:

Level 14 Ministry of Finance Bldg (Bangunan Kementerian Kewangan) Commonwealth Drive, Bandar Seri Begawan, Negara BB3910

Primary Business Activity

:

Service

Industry

:

Financial Services - General

 

 

 

Business Entity Name

:

BANDTREE SDN BHD

Global Identifier

:

P0822213

Country

:

Brunei

Relationship

:

Affiliate

Operational Address

:

Level 8 Ministry of Finanace Bldg Commonwealth Drive Jalan Kebangsaan, Bandar Seri Begawan BB3910

Primary Business Activity

:

Service

Industry

:

Financial Services - General

 

 

 

Business Entity Name

:

BROOKETON SDN BHD

Global Identifier

:

P1297703

Country

:

Brunei

Relationship

:

Affiliate

Operational Address

:

Level 6 Ministry of Finance Bldg (Bangunan Kementerian Kewangan) Commonwealth Drive, Bandar Seri Begawan BB3910

Primary Business Activity

:

Service

Industry

:

Financial Services - General

 

 

 

International

 

Business Entity Name

:

BAHAGIA INVESTMENT CORP (MALAYSIA) SDN BHD

Global Identifier

:

P0190766

Country

:

Malaysia

Relationship

:

Minority shareholding

Operational Address

:

12, 16Fl Grand Hyatt Hotel Kl Jalan Pinang, Kuala Lumpur 50450

Primary Business Activity

:

Service

Industry

:

Professional Services

 

 

 

Business Entity Name

:

BRUNEI INVESTMENT & COMMERCIAL BANK

Global Identifier

:

P1173306

Country

:

Myanmar

Relationship

:

Subsidiary

Operational Address

:

305 U Wisara Rd, Sanchaung, Yangon

Primary Business Activity

:

Service

Industry

:

Financial Services - General

 

 

 

Business Entity Name

:

PAK BRUNEI INVESTMENT CO LTD

Global Identifier

:

P2316345

Country

:

Pakistan

Relationship

:

Joint-Venture

Operational Address

:

Horizon Vista Plot Commercial 10 Block 4 Scheme 5, Clifton, Karachi

Primary Business Activity

:

Service

Industry

:

Financial Services - General

 

 

 

Business Entity Name

:

PATERSONS SECURITIES LTD

Global Identifier

:

P0377260

Country

:

Australia

Relationship

:

Minority shareholding

Operational Address

:

Level 23 Exchange Plaza 2 The Esplanade, Perth, WA 6000

Primary Business Activity

:

Service

Industry

:

Financial Services - General

 

 

 

FINANCIAL INFORMATION

 

FINANCIAL STATEMENT - DETAILED

Due to the nature of this entity, there are no financials available.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 BND
Brunei Dollars

=

0.740741 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Brunei

Business Entity Name

:

BRUNEI INVESTMENT AGENCY

Acronym

:

BIA

Primary Business Activity

:

Service

Primary Industry

:

Financial Services - General

Office Contact Details

Operating Address

:

12Fl Ministry of Finance Bldg (Bangunan Kementerian Kewangan) Commonwealth Drive, Bandar Seri Begawan BB3910

Tel

:

[+673]-2383535

Fax

:

[+673]-2383539

Email

:

lca@bia.com.bn
humanresource@bia.com.bn

Website Details

Website

:

http://www.mof.gov.bn

Status

:

Normal - operational

Country of Registration

:

Brunei

Ownership Type

:

Registered ownership by a related third party

Owner Country

:

Brunei

Owner Name

:

MINISTRY OF FINANCE

 

 Primary Products

Products / Materials / Services Description

Activity

Fund management

Service

Holding investments

Service

Money management

Service

Taxation

Service

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Finance, Taxation, & Monetary

9300

Service

Holding & Investment Offices

6700

Service

Investment Advice

6282

Service

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Business services, health, financial/insur. legal/real estate, hotels, and misc repairs

9900

Service

 

 

 

 

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of BRUNEI INVESTMENT AGENCY is Specialized professional services, including:

Fund management

Holding investments


Key services include :

Fund management

Holding investments

Money management

Taxation

 

 

COMPANY HISTORY

Date

Details

1983 - Jul

Established as Government body.

1984

Commenced its operations.

 

 

REAL ESTATE OWNERSHIP

The following property / ies are owned by BRUNEI INVESTMENT AGENCY :

Property Name

:

BRUNEI INVESTMENT AGENCY - BANDAR SERI BEGAWAN

Type of Property

:

Office & Administration

Address

:

12Fl Ministry of Finance Bldg (Bangunan Kementerian Kewangan) Commonwealth Drive, Bandar Seri Begawan BB3910

 

 

 

NOTES & COMMENTS

 

N/A

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.76

UK Pound

1

Rs.99.60

Euro

1

Rs.69.71

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

 

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.