MIRA
INFORM REPORT
|
Report Date : |
6th
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
QATAR
NATIONAL IMPORT AND EXPORT COMPANY |
|
|
|
|
Registered Office : |
Old
Airport Road, PO Box: 490, Doha, Qatar. |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
1964 |
|
|
|
|
Com. Reg. No.: |
1836, Doha |
|
|
|
|
Legal Form : |
Sharikat
Tadhamun (General Partnership) |
|
|
|
|
Line of Business : |
Engaged in the
import and wholesale of foodstuffs including frozen foods, chicken and meat;
manufacture of ice cream, yoghurt, fruit juices and milk; import of canned
food and dairy products. Subject also operates a number of supermarkets. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$
300,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company
Name |
QATAR NATIONAL IMPORT AND EXPORT COMPANY |
|
Country
of Origin |
Qatar |
|
Legal
Form |
General Partnership |
|
Registration
Date |
1964 |
|
Commercial
Registration Number |
1836, Doha |
|
Partners
Capital |
QR 2,500,000 |
|
Total
Workforce |
350 |
|
Line
of Business |
Import and wholesale of foodstuffs |
|
Financial
Condition |
Undetermined |
|
Payments |
Nothing detrimental uncovered |
COMPANY NAME
QATAR
NATIONAL IMPORT AND EXPORT COMPANY
ADDRESS
Registered & Physical Address
Location : Old Airport Road
PO Box : 490
Town : Doha
Country : Qatar
Telephone : (974) 4651154 / 4651829
Facsimile : (974) 4653493
Premises
Subject
operates from a large suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Doha.
Branch Office (s)
Subject operates a number of supermarkets located throughout Doha.
KEY PRINCIPALS
· Walid Al Khiyami Managing
Partner
· Ihsan Al Khiyami Partner
· Husam Al Khiyami Partner
· Mohamed Al Khiyami Partner
LEGAL FORM & OWNERS
Date of Establishment : 1964
Legal Form : Sharikat Tadhamun (General Partnership)
Commercial Reg. No. : 1836, Doha
Partners
Capital : QR 2,500,000
Name of Partner (s)
· Walid Al Khiyami
· Ihsan Al Khiyami
· Husam Al Khiyami
· Mohamed Al Khiyami
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations
: Engaged
in the import and wholesale of foodstuffs including frozen foods, chicken and
meat; manufacture of ice cream, yoghurt, fruit juices and milk; import of
canned food and dairy products. Subject also operates a number of supermarkets.
Import
Countries :
Denmark, Netherlands and India.
Subject
has a workforce of approximately 350 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
·
United
Bank Ltd
PO Box : 242
Doha
Tel :
(974) 4438666 / 4424900
Fax :
(974) 4424600
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 company is considered to be a fair trade risk and the above credit
figure is within subject’s financial means.
Maximum
suggested credit figure: US$ 300,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|