MIRA
INFORM REPORT
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Report Date : |
30.05.2007 |
IDENTIFICATION DETAILS
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Name : |
RAFAYA VEGETABLES
& FRUITS |
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Registered Office : |
Al Kholyfaat
Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1999 |
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Com. Reg. No.: |
44303, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of fruit and vegetables. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : RAFAYA VEGETABLES & FRUITS
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1999
Commercial Registration Number :
44303,
Invested Capital : QR 100,000
Total Workforce : 10
Line of Business : Wholesaler and retailer of fruit and vegetables.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
RAFAYA VEGETABLES
& FRUITS
ADDRESS
Registered & Physical Address
Location : Al Kholyfaat Area
PO Box : 2561
Town :
Country : Qatar
Telephone : (974) 4684569
Facsimile : (974) 4684569
Mobile : (974) 5380174
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Doha.
KEY PRINCIPALS
·
Mariam
Abdullah Mohamed Proprietor
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Abdulrahim
Rafiq Moido General
Manager
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Ashraf
Mohamed Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1999
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 44303, Doha
Invested Capital
: QR 100,000
Mrs Mariam Abdullah Mohamed 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 wholesale and retail of fruit
and vegetables.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 10 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 3,680,000 QR 3,900,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Qatar
National Bank SAQ
PO Box : 1002
Doha
Tel : (974) 4413511 / 4407407
Fax : (974) 4415020
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1999, subject is owned and managed by Mrs Mariam Abdullah Mohamed 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%)