MIRA
INFORM REPORT
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Report Date : |
16.07.2007 |
IDENTIFICATION DETAILS
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Name : |
INTER DECOR |
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Registered Office : |
Industrial Area, P O Box – 4610, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
20884, |
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Legal Form : |
Mouassasa Khassa (Sole Proprietorship) |
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Line of Business : |
Traders of interior decoration
products and soft furnishings including sofas, curtains and upholstery. |
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 :
INTER DECOR
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date :
1992
Commercial Registration Number :
20884,
Invested Capital :
QR 75,000
Total Workforce :
6
Line of Business :
Traders of interior decoration
products and soft
furnishings
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
INTER DECOR
ADDRESS
Registered & Physical Address
Location : Industrial Area
PO Box : 4610
Town :
Country :
Telephone : (974) 4620650
Facsimile : (974) 4620630
Email : azizakkara@gmail.com
Premises
Subject operates from a small suite of offices, a warehouse and a showroom
that are rented and located in the Industrial Area of Doha.
KEY PRINCIPALS
Khalifa Sultan Khalifa Al
Suwaidi Proprietor
& General Manager
Mohamed Saleem Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1992
Legal Form :
Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 20884,
Invested Capital : QR
75,000
Mr Khalifa Sultan Khalifa Al
Suwaidi 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 : Traders of interior decoration products and soft
furnishings including sofas, curtains and
upholstery.
Import Countries :
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 31/12/05: Year
Ending 31/12/06:
Total Revenue QR
5,580,000 QR
5,650,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
United Bank Ltd
PO Box : 242
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:
Inter Decor was established
in 1992 and trades in interior decoration products and soft furnishings including
sofas, curtains and upholstery
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 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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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%)