MIRA
INFORM REPORT
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Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
TOP UNIFORMS WLL |
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Registered Office : |
Souq Al Salah, PO
Box : 30029, Doha, Qatar |
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Country : |
Qatar |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
11665, Doha |
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Legal Form : |
Sharikat Thet
Massouliya Mahdoudeh (With Limited Liability - WLL) |
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Line of Business : |
Engaged in the
manufacture of military, hospital and work wear uniforms. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
TOP UNIFORMS WLL |
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Country of Origin |
Qatar |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
1994 |
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Commercial
Registration Number |
11665, Doha |
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Membership Number |
2013 |
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Issued Capital |
QR 200,000 |
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Paid up Capital |
QR 200,000 |
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Total Workforce |
15 |
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Line of Business |
Manufacturers of military, hospital and work wear uniforms. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
TOP UNIFORMS WLL
ADDRESS
Registered & Physical Address
Location : Souq Al Salah
PO Box : 30029
Town : Doha
Country : Qatar
Telephone : (974) 4415381 / 5861090
Facsimile : (974) 4448416
Email : topuniforms@qualitynet.net
Premises
Subject operates
from a small suite of offices and a factory that are rented and located in the
Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Gerish Babu Indian Managing Director
·
Eid Mohsen Al
Saadi Qatari Director
·
Anis Eid Al
Saadi Qatari Director
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 11665, Doha
Membership
No. : 2013
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
·
Gerish Babu
·
Eid Mohsen Al
Saadi
·
Anis Eid Al
Saadi
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 : Engaged in the manufacture of military,
hospital and work wear uniforms.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 15 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 8,100,000 QR 8,380,000
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
1994, subject is involved in the manufacture of military, hospital and work
wear uniforms.
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$ 200,000
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%)