MIRA INFORM REPORT

Report Date :

28^th February, 2007

IDENTIFICATION DETAILS

Name :	AL RAHMA TRADING CO WLL
Registered Office :	Street No. 36, Doha Industrial Area, Gate No. 57, PO Box: 870, Doha, Qatar
Country :	Qatar
Date of Incorporation :	1995
Com. Reg. No.:	18076, Doha
Legal Form :	Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Line of Business :	Engaged in the wholesale and retail of general foodstuff products.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US$ 150,000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear

SUMMARY

Company Name	AL RAHMA TRADING CO WLL
Country of Origin	Qatar
Legal Form	With Limited Liability - WLL
Registration Date	1995
Commercial Registration Number	18076, Doha
Issued Capital	QR 200,000
Paid up Capital	QR 200,000
Total Workforce	10
Line of Business	Wholesalers and retailers of general foodstuff products.
Financial Condition	Fair
Payments	Nothing detrimental uncovered
Operating Trend	Steady

COMPANY NAME

AL RAHMA TRADING CO WLL

ADDRESS

Registered & Physical Address

Street : Street No. 36

Area : Doha Industrial Area, Gate No. 57

PO Box : 870

Town : Doha

Country : Qatar

Telephone : (974) 4500163 / 4415872

Facsimile : (974) 4501809

Mobile : (974) 5507545

Email : alrahma870@yahoo.com

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Doha.

KEY PRINCIPALS

· Jaber Salman Jaber Al Muhandi Managing Director

· Salman Jaber Salman Jaber Al Muhandi Director

· Abdul Raouf Hafiz Abdul Gaffat General Manager

LEGAL FORM & OWNERS

Date of Establishment : 1995

Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)

Commercial Reg. No. : 18076, Doha

Issued Capital : QR 200,000

Paid up Capital : QR 200,000

Name of Shareholder (s)

· Jaber Salman Jaber Al Muhandi

· Salman Jaber Salman Jaber Al Muhandi

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 ofmembers is restricted to the nominal value of their shares in the registered capital.

LINE OF BUSINESS

Operations : Engaged in the wholesale and retail of general foodstuff products.

Import Countries : Europe and the Far East.

Operating Trend : Steady

Subject has a workforce of 10 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 4,800,000 QR 5,300,000

Local sources consider subject’s financial condition to be Fair.

BANKERS

· Doha Bank Ltd

PO Box : 3818

Doha

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 1995, subject is owned and managed by Mr Jaber Salman Jaber Al Muhandi and his son Mr Salman Jaber Salman Jaber Al Muhandi who are 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 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

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions