MIRA
INFORM REPORT
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Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ALMUNAYES GENERAL
TRADING EST |
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Registered Office : |
Al Ardiya
Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
23rd October 1976 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of general foodstuff products, herbs and spices. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ALMUNAYES GENERAL TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 23rd October 1976
Trade Licence Number : 4090/76
Membership Number : 2945
Invested Capital : KD 10,000
Total Workforce : 15
Line of Business : Distributors of general foodstuff products, herbs and spices.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ALMUNAYES GENERAL
TRADING EST
ADDRESS
Registered & Physical Address
Location : Al Ardiya Industrial Area
PO Box : 2446 & 4405
Town : Safat 13025
Country :
Telephone : (965) 4337853 / 4312674 / 4319657
Facsimile : (965) 4341307
Email : munayes@qatar.net.qa
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Safat.
KEY PRINCIPALS
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Abdullatif
Abdulkarim Almunayes Proprietor &
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 23rd
October 1976
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Trade Licence No. : 4090/76
Membership No. : 2945
Invested Capital
: KD 10,000
Mr Abdullatif Abdulkarim Almunayes 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 import and distribution of
general foodstuff products, herbs and spices.
Import Countries
:
Operating Trend
: Steady
Subject has a
workforce of 15 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Kuwaiti
Dinars (KD)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue KD 1,520,000 KD
1,575,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of
PO Box : 95
Safat 13001
Tel : (965) 3981188 / 3981189
Fax : (965) 3985643
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1976, subject is owned and managed by Mr Abdullatif Abdulkarim Almunayes who is well respected in the
local business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 150,000
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. |
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%)