MIRA
INFORM REPORT
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Report Date : |
23rd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
BHARAT TRADING CO WLL |
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Registered Office : |
Al Najma Street 13867, Doha, Qatar |
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Country : |
United
Arab Emirates |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
2004 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Distributors of granite, marble, ceramics and sanitary ware products. |
RATING & COMMENTS
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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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
BHARAT TRADING CO WLL |
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Country of Origin |
Qatar |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
2004 |
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Issued Capital |
QR 200,000 |
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Paid up Capital |
QR 200,000 |
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Total Workforce |
8 |
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Line of Business |
Distributors of granite, marble, ceramics and sanitary ware products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
BHARAT TRADING CO WLL
ADDRESS
Registered & Physical Address
Location : Al Najma Street
PO Box : 13867
Town : Doha
Country : Qatar
Telephone : (974) 4313751
Facsimile : (974) 4313751
Mobile : (974) 5529430
Email : manoharsharoff@hotmail.com
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
Manohar Sharoff Indian Managing Director
Hassan Ali Al Ansari Qatari Director
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s) Percentage
Hassan Ali Al Ansari 51%
Manohar Sharoff 49%
Note to the Legal Form
A limited liability company must have between two and thirty members. Its minimum capital cannot be less than QR 200,000. The capital is divided into shares of not less than QR 1,000 each. The company must keep a register of members. The liability of members is restricted to the nominal value of their shares in the registered capital.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of granite, marble, ceramics and sanitary ware products.
Import Countries : Spain and Italy.
Operating Trend : Steady
Subject has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Qatari Riyals (QR)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue QR 3,200,000 QR 3,620,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Qatar Islamic Bank
Al Khaleej Insurance Building
Grand Hamad Avenue
PO Box : 559
Doha
Tel : (974) 4409409
Fax : (974) 4412700
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2004, subject is involved in the import and distribution of granite, marble, ceramics and sanitary ware products.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure: US$ 200,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |