Bahri Annual Report-2011

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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