MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TRANS ARABIA
TRADING CO WLL |
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Registered Office : |
Sanaya Industrial
Area, P O Box 13960, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
12218, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Import and distribution of general
foodstuffs and grocery products. Import and
distribution of disposable
kitchen products, including plastic, foil and cling film and bin bags. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : TRANS ARABIA TRADING CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1992
Commercial Registration Number : 12218, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 25
Line of Business : Subject operates several divisions (see below for details).
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TRANS ARABIA TRADING
CO WLL
ADDRESS
Registered & Physical Address
Location : Sanaya Industrial Area
PO Box : 13960
Town : Doha
Country : Qatar
Telephone : (974) 4602806
Facsimile : (974) 4504153
Email : transmohan@hotmail.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
·
Fahd
Mohamed Al Khawari Managing
Director
·
Sultan Fahd
Mohamed Al Khawari Director
·
Mohan Menon General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1992
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 12218, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
· Fahd Mohamed Al Khawari
· Sultan Fahd Mohamed Al Khawari
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 : Subject’s activities are performed through
the following divisions:
·
Foodstuff Division
Engaged in the import and
distribution of general foodstuffs and grocery
products.
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Disposable Product Division
Engaged in the import and distribution of disposable kitchen products, including plastic, foil and
cling film and bin bags.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 25 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 8,780,000 QR 10,150,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Doha Bank Ltd
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
Acc No. 222-53222-1-11-0
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in 1992,
subject is owned and managed by Mr Fahd
Mohamed Al Khawari and Mr Sultan Fahd Mohamed Al Khawari who are both well
respected in the local business community.
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
company 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$ 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%)