MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
BUKSHAISHA
TRADING & CONTRACTING EST |
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Registered Office : |
Engineering Street,
P O Box 3100, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1972 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and retail
of building materials 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
Company Name : BUKSHAISHA TRADING & CONTRACTING EST
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1972
Invested Capital : QR 250,000
Total Workforce : 35
Line of Business : Wholesale and retail of building materials and sanitary ware products,
as well as general building and construction contractors.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BUKSHAISHA TRADING
& CONTRACTING EST
ADDRESS
Registered & Physical Address
Location : Engineering Street
PO Box : 3100
Town : Doha
Country : Qatar
Telephone : (974) 4410975
Facsimile : (974) 4411283
Email : alqamra@alqamra.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Doha.
KEY PRINCIPALS
·
Ismail Daoud
Mohamed Bukshaisha Proprietor
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Hamadi Abou
Shanab General
Manager
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Mohamed A.
Raouf Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1972
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Invested Capital
: QR 250,000
Mr Ismail Daoud
Mohamed Bukshaisha 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 : Engaged in the wholesale and retail of
building materials and sanitary ware products. Subject also operates as general
building and construction contractors.
Import Countries
: India, United Kingdom,
Germany and Japan.
Operating Trend
: Steady
Subject has a
workforce of 35 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue QR 11,290,000 QR 13,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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HSBC Bank
Middle East
Abdullah Bin Jassim Street
PO Box : 57
Doha
Tel : (974) 4423124
Fax : (974) 4416353
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000
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
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)