Board of Directors Report 2011
Affiliates and Segments
Bahri owns or invests in a group of companies within the Kingdom of Saudi Arabia and abroad, as shown in the following table:
Country of Establishment
Head Office Location
Geographical Scope of Activity
Data of Incorporation
Ownership (%) 2011
Company Name
Activity
Bhari (America) Inc.
Bahri Ship Agent
USA
USA
Global
1991
100%
Mideast Ship Management Ltd.
Technical Ship Management
UAE
UAE
Global
1996
100%
National Chemical Carriers Ltd. Co.
Petrochemical Transportation
KSA
KSA
Global
1990
80%
Bahri Dry Bulk
Dry Bulk Transportation
KSA
KSA
Global
2010
60%
LPG Transportation and Trading
Petredec Co. Ltd.
Bermuda
Singapore
Global
1980
30.3%
Arabian United Float Glass Company
Glass Manufacturing and Trading
KSA
KSA
Local
2006
10%
Financial Results for Affiliates and Segments for the FY 2011 (In Thousands Saudi Riyals)
Percentage contribution in Company’s Net Profit
Operating Revenue
Operating Expenses
General & Administrative
Other Income (Expenses)
Net Profit (Loss)
Company Name
Bahri (America) Inc.
23,470
(6,605)
(16,541)
(86)
238
0.1%
Mideast Ship Management Ltd.
40,665
----
(36,055)
(3,002)
1,608
0.1%
National Chemical Carriers Ltd. Co.
362,539
(210,785)
(7,439)
8,880
135,435
47%
Bahri Dry Bulk
----
----
(2,290)
(3,874)
(6,164)
(2%)
* Dependent entirely on the parent company in generating their income.
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