MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION DETAILS
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Name : |
AL
SHARQI TRADING AND SERVICES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of oilfield equipment and related spare parts. |
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 : AL SHARQI TRADING AND SERVICES
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1992
Invested Capital : QR 100,000
Total Workforce : 6
Line of Business : Distributors of oilfield equipment and related spare
parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL
SHARQI TRADING AND SERVICES
ADDRESS
Registered & Physical Address
Location :
PO Box : 13681
Town :
Country :
Telephone : (974) 4354230
Facsimile : (974) 4354238
Email : age@qatar.net.qa
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
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V R Daz Indian Proprietor &
General Manager
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Khalil Abdul Haji Qatari Local Sponsor
LEGAL FORM &
OWNERS
Date of Establishment : 1992
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : QR 100,000
Mr V R
Daz 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 oilfield equipment and related spare parts.
Import
Countries :
Europe and the
Operating
Trend : Steady
Subject
has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Qatari Riyals (QR)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue QR
4,700,000 QR
5,100,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Doha Bank Ltd
PO Box : 3818
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1992, subject is owned and managed by Mr V R Daz, an Indian national who
operates in
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 deemed to be within subject’s financial means.
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/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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