MIRA
INFORM REPORT
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Report Date : |
8th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
IDEAL
TRADING COMPANY WLL |
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Registered Office : |
Kharaba
Street, PO Box : 21288, Doha, Qatar |
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Country : |
Qatar |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
22163,
Doha |
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Legal Form : |
Sharikat
Thet Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Wholesalers
and retailers of dried foodstuff products, including rice, pulses and nuts. |
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 |
IDEAL
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 |
1990 |
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Commercial
Registration Number |
22163,
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 |
18 |
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Line
of Business |
Wholesalers
and retailers of dried foodstuff 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
IDEAL
TRADING CO WLL
ADDRESS
Registered & Physical
Address
Location : Kharaba Street
PO Box : 21288
Town : Doha
Country : Qatar
Telephone : (974) 4503204 / 4503653 / 4879038
Facsimile : (974) 4444303
Email : idealtrade@yahoo.com
Premises
Subject
operates from a small suite of offices and a showroom that are owned and
located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Sayed Mohamed Al Shamali Qatari Managing Director
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Mana
Thodi Hanifa Indian Director
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Yousef
Ali - Commercial Manager
LEGAL FORM & OWNERS
Date of Establishment : 1990
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 22163, Doha
Issued
Capital : QR 200,000
Paid
up Capital : QR 200,000
Name of Shareholder (s) Percentage
·
Mohamed
Sayed Mohamed Al Shamali 51%
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Mana
Thodi Hanifa 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
wholesale and retail of dried foodstuff products, including rice,
pulses and nuts.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 18 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
6,800,000 QR
7,350,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Qatar
Islamic Bank
Al Khleej 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 1990, subject is involved in the wholesale and retail of dried foodstuff
products, including rice, pulses and nuts.
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$ 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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