MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AL FAKIEH TRADING
& CONTRACTING EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
7807, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of ceramics, tiles, sanitary ware products and related fittings. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL FAKIEH TRADING & CONTRACTING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1980
Commercial Registration Number :
7807,
Invested Capital : QR 100,000
Total Workforce : 8
Line of Business :
Distributors of ceramics,
tiles, sanitary ware
products and related fittings.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL FAKIEH TRADING
& CONTRACTING EST
ADDRESS
Registered & Physical Address
Location : Najma Street
PO Box : 381
Town :
Country : Qatar
Telephone : (974) 4325976
Facsimile : (974) 4326065
Email : malik@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
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Saeed
Ahmed Al Fakieh Al Amoudi Proprietor &
General Manager
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Khalid
Saeed Ahmed Al Fakieh Al Amoudi Assistant General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1980
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 7807, Doha
Invested Capital
: QR 100,000
Mr Saeed Ahmed Al Fakieh Al Amoudi is the sole proprietor of the business.
Note to the Legal
Form
Commonly referred to as
an establishment, the Company Law defines Mouassasa Khassa as the business of
an individual where liability for all debts is unlimited. The business is the
entire responsibility of its proprietor, who is liable for all its debts to the
extent of his entire wealth. There are no legal requirements concerning the
amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of ceramics, tiles, sanitary ware products
and related fittings.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 8 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 4,780,000 QR 5,000,000
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
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1980, subject is owned and managed by Mr Saeed Ahmed Al Fakieh Al Amoudi who is 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 business 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
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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%)