MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
AL BUSAID TRADING
EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1986 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged as
distributors and retailers of hardware and building materials, specialising in
hand tools, bolts and nuts, fasteners, hoses, power tools and working gloves. |
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 BUSAID TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1986
Invested Capital : QR 500,000
Total Workforce : 8
Line of Business : Distribution and retail of hardware and building materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL BUSAID TRADING
EST
ADDRESS
Registered & Physical Address
Location : Musheireb Street
PO Box : 12326
Town :
Country : Qatar
Telephone : (974) 4422791
Facsimile : (974) 4449765
Email : albusaid@qatar.net.ae
Premises
Subject operates
from a small suite of offices and a showroom with storage facilities that are
rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
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Said
Mohamed Al Busaid Al Khayam Proprietor
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Emtiaz
Aftav Ahmed General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1986
Legal Form :
Mouassasa Khassa (Sole Proprietorship)
Invested Capital
: QR 500,000
Mr Said Mohamed Al
Busaid Al Khayam 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 as distributors and retailers of
hardware and building materials, specialising in hand tools, bolts and nuts,
fasteners, hoses, power tools and working gloves.
Import Countries
: Spain, Germany and the
United States of America.
Operating Trend
: Steady
Subject has a
workforce of 8 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 5,120,000 QR 5,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of Qatar Ltd (QSC)
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Al Busaid Trading
Est has been in business since 1986 and is engaged in the distribution and
retail of hardware and building materials. It is run in a professional manner
and is owned by Mr Said Mohamed Al Busaid Al Khayam, who is well respected in
the local business community.
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%)