MIRA
INFORM REPORT
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Report Date : |
27.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BIN ALI ABDULLAH
FILLING & PACKING WLL |
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Registered Office : |
Industrial Area,
P O Box 41223, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2005 |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the
packaging of foodstuffs and other non-foodstuffs consumables. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : BIN ALI ABDULLAH FILLING & PACKING WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2005
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 20
Line of Business : Packagers of foodstuffs and other non-foodstuffs consumables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
BIN ALI ABDULLAH
FILLING & PACKING WLL
ADDRESS
Registered & Physical Address
Location : Industrial Area
PO Box : 41223
Town : Doha
Country : Qatar
Telephone : (974) 4504519
Facsimile : (974) 4504518
Mobile : (974) 5890423 / 5542993
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
Name Nationality Position
·
Iman Hassan
Ali Al Khater Qatari Managing Director
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Ogesh
Jaindalal Bhat Indian Director
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Abu Baker
Mohideen - Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2005
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s) Percentage
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Iman Hassan
Ali Al Khater 51%
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Ogesh
Jaindalal Bhat 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 packaging of foodstuffs and
other non-foodstuffs consumables.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year
Ending 31/12/06:
Total Revenue QR
3,850,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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HSBC Bank
Middle East
Abdulla Bin Jassim Street
PO Box : 57
Doha
Tel : (974) 423124
Fax : (974) 416353
Acc No. 001126028001
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Investigations
undertaken in Doha did not reveal any sign of payment defaults or delays during
initial trading stages, and subject is believed to meet its payment obligations
in a timely manner, nevertheless, and in view of the company’s infancy and the
lack of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
Maximum suggested
credit figure: US$ 100,000
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%)