MIRA INFORM REPORT
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Report Date : |
11th May 2006 |
IDENTIFICATION DETAILS
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Name : |
AL AMOUDI TRADING &
CONTRACTING EST |
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Registered Office : |
Musherib Street 3345 & 3145, Doha Qatar |
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Date of Incorporation : |
1977 |
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Com. Reg. No.: |
4797,
Doha |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
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RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL AMOUDI TRADING & CONTRACTING EST |
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Country of Origin |
Qatar |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1977 |
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Commercial Registration Number |
4797, Doha |
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Invested Capital |
QR 1,500,000 |
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Total Workforce |
150 |
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Line of Business |
Subject operates several divisions (see below for details). |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL AMOUDI TRADING & CONTRACTING EST
ADDRESS
Registered & Physical Address
Location : Musherib Street
PO Box : 3345 & 3145
Town : Doha
Country : Qatar
Telephone : (974) 4422129 / 4432658
Facsimile : (974) 4417959
Email : amouditrading@qatar.net.qa
Premises
Subject operates from a medium sized suite of offices and a warehouse that are owned and located in the Central Business Area of Doha.
KEY PRINCIPALS
Abdulrahman Mohamed Abdulrahman Ba Saqr Al Amoudi Proprietor
Othman Mohamed Abdulrahman Ba Saqr Al Amoudi General Manager
Sayed Mahroos Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : 1977
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 4797, Doha
Invested Capital : QR 1,500,000
Mr Abdulrahman Mohamed Abdulrahman Ba Saqr Al Amoudi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Subject’s activities are performed through the following divisions:
General Trading Division
Wholesalers and retailers of electrical products, sanitary
ware, ceramics and tiles.
Contracting Division
Engaged as general
building construction contractors.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 150 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 23,450,000 QR 26,180,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Arab Bank Ltd
Al Sadd Street
PO Box : 3058
Doha
Tel : (974) 4426555 / 4426560
Fax : (974) 4447218
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction October 2005
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters of Credit
Paying record No Complaints
Currency US
Dollars
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1977, subject’s operations are performed through its General Trading Division and Contracting Division.
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 business is considered to be a fair trade risk and the above credit figure is deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 400,000
RATING EXPLANATIONS
RATING
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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 |