MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
FIVE GROUP
TRADING & CONTRACTING WLL |
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Registered Office : |
Najma Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
27th September 2005 |
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Com. Reg. No.: |
33877, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the import and distribution of general foodstuff products
and non-foods items. Engaged as
general building and construction contractors. |
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 : FIVE GROUP TRADING & CONTRACTING WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 27th September 2005
Commercial Registration Number :
33877,
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 100
Line of Business : Subject operates several divisions (see below for details).
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
FIVE GROUP TRADING
& CONTRACTING WLL
ADDRESS
Registered & Physical Address
Location : Najma Area
PO Box : 55965
Town :
Country :
Telephone : (974) 4821064
Facsimile : (974) 4806447
Email : fivegrouptradingdoha@gmail.com
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
K
K Othman Indian Managing Director
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M
B Abdullah Mohamed Abdullah Indian Director
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Fahd Ali Hamd Abdullah Qatari Director
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Naser
Ghanem Mohamed Al Ali Qatari Director
LEGAL FORM &
OWNERS
Date of Establishment : 27th
September 2005
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 33877,
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder
(s)
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K
K Othman
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M
B Abdullah Mohamed Abdullah
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Fahd Ali Hamd Abdullah
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Naser
Ghanem Mohamed Al Ali
Note to the Legal Form
A limited liability company must have between two and thirty members. Its minimum capital cannot be less than QR 200,000. The capital is divided into shares of not less than QR 1,000 each. The company must keep a register of members. The liability of members is restricted to the nominal value of their shares in the registered capital.
LINE OF BUSINESS
Operations : Subject’s activities are performed through
the following divisions:
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Trading Division
Engaged in the import and
distribution of general foodstuff products and non-foods items.
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Contracting Division
Engaged as general building and construction contractors.
Import Countries
: Europe and
Subject has a
workforce of 100 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year
Ending 31/12/06 :
Total Revenue QR
12,250,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of Qatar Ltd (QSC)
PO Box : 3232
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:
Established in
2005, subject’s operations are performed through two divisions, one dealing in
trading and the other in contracting.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered 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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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%)