MIRA
INFORM REPORT
|
Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
AL AZIZIA
FURNITURE & DECORATION CO. WLL |
|
|
|
|
Registered Office : |
Asmakh Street, PO
Box : 18863, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Com. Reg. No.: |
24152, Doha |
|
|
|
|
Legal Form : |
With Limited
Liability - WLL |
|
|
|
|
Line of Business : |
Importer and Distributors
of furniture, carpets and decoration materials. |
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 : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
AL AZIZIA FURNITURE & DECORATION CO WLL |
|
Country of Origin |
Qatar |
|
Legal Form |
With Limited Liability - WLL |
|
Registration Date |
2001 |
|
Commercial Registration Number |
24152, Doha |
|
Membership Number |
6043 |
|
Issued Capital |
QR 150,000 |
|
Paid up Capital |
QR 150,000 |
|
Total Workforce |
11 |
|
Line of Business |
Distributors of furniture, carpets and decoration materials. |
|
Financial Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
AL AZIZIA FURNITURE
& DECORATION CO WLL
ADDRESS
Registered & Physical Address
Location : Asmakh Street
PO Box : 18863
Town : Doha
Country : Qatar
Telephone : (974) 4326653
Facsimile : (974) 4418411
Email : alaziziafurn@qatar.net.qa
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
Name Nationality Position
·
Sheikh
Abdullah Ali Al Thani Qatari Managing Director
·
Bedo Boshan Bangladeshi Director
LEGAL FORM & OWNERS
Date of Establishment : 2001
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 24152, Doha
Membership
No. : 6043
Issued Capital : QR 150,000
Paid up Capital : QR 150,000
Name of Shareholder (s)
Percentage
·
Sheikh
Abdullah Ali Al Thani 51%
·
Bedo Boshan 49%
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 import and distribution of
furniture, carpets and decoration materials.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 11 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 5,100,000 QR 5,250,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
Acc No. 4010311014001
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Established in
2001, subject is involved in the import and distribution of furniture, carpets
and decoration materials.
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
deemed 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%)