MIRA
INFORM REPORT
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Report Date : |
05.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
VALANCIA
INTERNATIONAL TRADING CO WLL |
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Registered Office : |
Salwa Road, P O
Box 35043, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1st September 2004 |
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Com. Reg. No.: |
27886, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the import
and distribution of catering equipment, hotel supplies, bakery equipment and
ingredients. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : VALANCIA INTERNATIONAL TRADING CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1st September 2004
Commercial Registration Number : 27886, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 6
Line of Business : Distributors of catering equipment, hotel supplies,
bakery equipment and ingredients.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
VALANCIA
INTERNATIONAL TRADING CO WLL
ADDRESS
Registered & Physical Address
Location : Salwa Road
PO Box : 35043
Town : Doha
Country : Qatar
Telephone : (974) 4603840
Facsimile : (974) 4602820
Mobile : (974) 5509753
Email : valancia@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
Name Nationality Position
·
Javed Akhtar Pakistani Managing Director
·
Bilal Al
Suwaidi Qatari Director
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Sayed Abdul
Moniem - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
September 2004, however subject actually started trading in January
2005.
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 27886, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder (s)
·
Javed Akhtar
·
Bilal Al
Suwaidi
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 import and distribution of
catering equipment, hotel supplies, bakery equipment and ingredients.
Import Countries
: Europe and the United
States of America.
International
Suppliers :
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Bunge United States of America
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AB Muri United Kingdom
Operating Trend
: Steady
Subject has a
workforce of 6 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 3,800,000 QR 4,500,000
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
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Commercial
Bank of Qatar Ltd
Salwa Road
PO Box : 3232
Doha
Tel : (974) 4490222
Fax
: (974) 4438182
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Doha Bank Ltd
Al Jasrah Street
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction January 2005
Credit amount 26,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
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
within subject’s financial means.
Maximum suggested
credit figure: US$ 1500,000
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. |
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%)