MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
GULF BUTCHERY |
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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 : |
2003 |
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Com. Reg. No.: |
6817, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail of slaughtered meat, including beef, goat and sheep. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : GULF BUTCHERY
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 2003
Commercial Registration Number :
6817,
Invested Capital : QR 100,000
Total Workforce : 11
Line of Business : Wholesalers and retailers of slaughtered meat.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
GULF BUTCHERY
ADDRESS
Registered & Physical Address
Location : Old Airport Road
PO Box : 543 & 9493
Town :
Country : Qatar
Telephone : (974) 4652573 / 4426841
Facsimile : (974) 4652573
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
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Mohamed
Ramzan Shawkat Ali Pakistani Proprietor & General Manager
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Mohamed
Mohana Al Nuaimi Qatari Local Sponsor
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Abdul
Sattar Mohamed - Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2003
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 6817, Doha
Invested Capital
: QR 100,000
Mr Mohamed Ramzan
Shawkat Ali 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
slaughtered meat, including beef, goat and sheep. Subject caters to restaurants
and hotels.
Import Countries
: Saudi Arabia, Oman and
Bahrain.
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 31/12/05: Year
Ending 31/12/06:
Total Revenue QR 3,250,000 QR 3,800,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Qatar
National Bank
PO Box : 1002
Doha
Tel : (974) 4413511 / 4407407
Fax
: (974) 4415020
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
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%)