MIRA INFORM REPORT

Report Date :

26^th February, 2006

IDENTIFICATION DETAILS

Name :	FAMILY GARDEN CENTRE
Registered Office :	Fruit and Vegetable Market, Salwa Road, PO Box: 22974, Doha, Qatar
Country :	Qatar
Date of Incorporation :	October 2006
Legal Form :	Mouassasa Khassa (Sole Proprietorship)
Line of Business :	Engaged in the import and distribution of indoor and outdoor plants, flowers and gardening accessories.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 50,000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear

SUMMARY

Company Name	FAMILY GARDEN CENTRE
Country of Origin	Qatar
Legal Form	Sole Proprietorship
Registration Date	October 2006
Invested Capital	QR 100,000
Total Workforce	8
Line of Business	Distributors of indoor and outdoor plants, flowers and gardening accessories.
Financial Condition	Undetermined
Payments	Nothing detrimental uncovered

COMPANY NAME

FAMILY GARDEN CENTRE

ADDRESS

Registered & Physical Address

Location : Fruit and Vegetable Market

Street : Salwa Road

PO Box : 22974

Town : Doha

Country : Qatar

Telephone : (974) 4503535 / 4699982

Facsimile : (974) 4503636

Mobile : (974) 5554523

Email : familygarden1@gmail.com

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Doha.

KEY PRINCIPALS

Name Nationality Position

· Razia M Kunjo Indian Proprietor

· Asgar Ali - Assistant General Manager

· Jassim Al Suwaidi Qatari Local Sponsor

LEGAL FORM & OWNERS

Date of Establishment : October 2006

Legal Form : Mouassasa Khassa (Sole Proprietorship)

Invested Capital : QR 100,000

Ms Razia M Kunjo 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 indoor and outdoor plants, flowers and gardening accessories.

Import Countries : Europe and GCC countries.

Subject has a workforce of 8 employees.

FINANCIAL HIGHLIGHTS

Subject is a newly formed business and as a result financial information is not currently available.

BANKERS

· Doha Bank Ltd

PO Box : 3818

Doha

Tel : (974) 4435444

Fax : (974) 4416631 / 4410625

Acc No. : 3725660001

· International Bank of Qatar

PO Box : 2001

Doha

Tel : (974) 4473700

Fax : (974) 4473777

Acc No. : 001500321001

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Investigations undertaken in Doha did not reveal any sign of payment defaults or delays during initial trading stages, and subject is believed to meet its payment obligations in a timely manner, nevertheless, and in view of the company’s infancy and the lack of a more consistent payment and financial record, a measure of caution is advisable and a close monitoring of subject’s business development is recommended.

Maximum suggested credit figure: US$ 50,000

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

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions