MIRA
INFORM REPORT
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Report Date : |
20.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
BUSTAN AL KHALEEJ
TRADING CO WLL |
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Registered Office : |
Sana R/A Street,
Souq Aseeri, P O Box 15385, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
34828, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the
import and distribution of general foodstuff products, specializing in dried
foods. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : BUSTAN AL KHALEEJ TRADING CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Start Date : 1994
Registration Date : 1st February 2007
Commercial Registration Number : 34828, Doha
Membership Number : 12961
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 5
Line of Business : Distributors of general foodstuff products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BUSTAN AL KHALEEJ TRADING
CO WLL
ADDRESS
Registered & Physical Address
Street : Sana R/A Street
Area : Souq Aseeri
PO Box : 15385
Town : Doha
Country : Qatar
Telephone : (974) 4311654
Facsimile : (974) 4311654
Mobile : (974) 5831083
Email : skynetdoha@gmail.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
·
Mohamed Ashraf
Messali Indian Managing Director
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Nasser
Hamoud Al Sultan Qatari Director
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Ismail
Kunail - General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1994 as a
Sole Proprietorship under the name “Jannat Al Khaleej Est”. However on 1st
February 2007 it re-registered as a With Limited Liability company under
the new name
of “Bustan Al Khaleej Trading Co WLL.
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 34828, Doha
(Old CR No. 16635)
Membership
No. : 12961
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s) Percentage
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Nasser
Hamoud Al Sultan 51%
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Mohamed Ashraf
Messali 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
general foodstuff products, specialising in dried foods.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Qatar are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
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Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
Acc No. 4580581017001
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Established in
1994, subject is involved in the import and distribution of general foodstuff
products, specialising in dried foods.
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.
Maximum suggested
credit figure: US$ 100,000
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%)