MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AL HUDA FOOD CENTRE |
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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 : |
2002 |
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Com. Reg. No.: |
29342, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale and retail of general foodstuff products |
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 HUDA FOOD CENTRE
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date :
2002
Commercial Registration Number :
29342,
Invested Capital :
QR 50,000
Total Workforce :
12
Line of Business :
Wholesalers and retailers of general foodstuff products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
AL HUDA FOOD CENTRE
ADDRESS
Registered & Physical Address
Location :
PO Box : 11472
Town :
Country :
Telephone : (974) 4665070
Facsimile : (974) 4653305
Email : alhudafood@hotmail.com
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
Ahmed Issa
Nasif Al Mansouri Proprietor
P P Abid General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2002
Legal Form :
Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 29342,
Invested Capital : QR
50,000
Mr Ahmed Issa Nasif Al
Mansouri 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
wholesale and retail of general foodstuff products.
Import Countries: Europe and the
Operating Trend : Steady
Subject has a workforce of 12 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
3,720,000 QR
4,200,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
PO Box : 664
Tel : (974) 4435535 / 4435548
Fax : (974) 4444101
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2002, subject is owned and managed by Mr Ahmed Issa Nasif Al Mansouri who is well
respected in the local business community.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the business 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%)