MIRA
INFORM REPORT
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Report Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL
AMARA TRADING WLL |
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Registered Office : |
Industrial
Area, Building No. 57, Sanaya Street 8, PO Box : 3783, Doha, Qatar |
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Country : |
Qatar |
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Date of Incorporation : |
1966 |
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Com. Reg. No.: |
945, Doha |
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Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Import, wholesale and retail of building materials, paints, tools, steel products, varnishes, glue, sealants as well as carpentry equipment and timber. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL AMARA TRADING 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 |
1966 |
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Commercial Registration Number |
945, Doha |
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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 |
20 |
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Line of Business |
Import, wholesale and retail of building materials, paints, tools, steel products, varnishes, glue, sealants as well as carpentry equipment and timber. |
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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 AMARA
TRADING
ADDRESS
Registered & Physical
Address
Location : Industrial Area, Building No. 57,
Sanaya Street 8
PO Box : 3783
Town :
Doha
Country : Qatar
Telephone : (974) 4600620 / 4600200
Facsimile : (974) 4427377
Premises
Subject
operates from a small suite of offices that are rented and located in the
Industrial Area of Doha.
Branch Office (s)
Location Description
·
Street
No. 15 Warehouse
premises
Industrial Area
Doha
Tel : (974) 4604156
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Najma
Street Showroom
premises
Doha
Tel : (974) 4328232
KEY PRINCIPALS
·
Zakaria
Al Assy Managing
Director
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Khalid
Zakaria Al Assy Director
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Saif
Elddine Karma Sales
Manager
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Tim
Bahtout Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1966
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 945, Doha
Issued
Capital : QR 200,000
Paid
up Capital : QR 200,000
Name of Shareholder (s)
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Zakaria
Al Assy
·
Khalid
Zakaria Al Assy
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, wholesale and retail of building materials, paints, hand
tools, steel products,
varnishes, glue, sealants as well as carpentry equipment
and timber.
Import
Countries :
Italy, Germany, Oman and the United Arab Emirates.
International
Suppliers :
·
Sadoline
Oman Oman
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Sigma
Paints United Arab
Emirates
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Agardi Italy
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Luka Germany
Operating
Trend : Steady
Subject
has a workforce of 20 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
7,920,000 QR
8,160,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Doha
Bank Ltd
Al Jasrah Street
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of
transaction November
2001
Credit
amount 26,000
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
Al Amara
Trading WLL is very well established in the local market with operations dating
back to 1966. It is engaged in the import, wholesale and retail of building
materials, paints, tools, steel products, varnishes, glue, sealants as well as
carpentry equipment and timber. The business deals with a number of well known
international suppliers and enjoys a good reputation for the quality of its
products.
The
business is run in a professional manner and is owned by Mr Zakaria Al Assy and
his son, Khalid Zakaria Al Assy, both wealthy and experienced Qatari
businessmen.
As far
as payment obligations are concerned nothing detrimental was uncovered and the
operating history was clear. As such the business 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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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