MIRA
INFORM REPORT
|
Report Date : |
21.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
QATAR NATIONAL
IMPORT AND EXPORT COMPANY |
|
|
|
|
Registered Office : |
Old Airport Road,
P O Box 490, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
1964 |
|
|
|
|
Com. Reg. No.: |
1836, Doha |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Engaged in the import and wholesale of foodstuffs. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 300,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : QATAR NATIONAL IMPORT AND EXPORT COMPANY
Country of Origin : Qatar
Legal Form : General Partnership
Registration Date : 1964
Commercial Registration Number : 1836, Doha
Partners Capital : QR 2,500,000
Total Workforce : 350
Line of Business : Import and wholesale of foodstuffs
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
QATAR NATIONAL
IMPORT AND EXPORT COMPANY
ADDRESS
Registered & Physical Address
Location : Old Airport Road
PO Box : 490
Town : Doha
Country : Qatar
Telephone : (974) 4651154 / 4651829
Facsimile : (974) 4653493
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Doha.
Branch Office (s)
Subject operates a number of supermarkets located throughout Doha.
KEY PRINCIPALS
· Walid
Al Khiyami Managing
Partner
· Ihsan
Al Khiyami Partner
· Husam
Al Khiyami Partner
· Mohamed
Al Khiyami Partner
LEGAL FORM & OWNERS
Date of Establishment : 1964
Legal Form :
Sharikat Tadhamun (General
Partnership)
Commercial Reg. No. : 1836, Doha
Partners Capital : QR 2,500,000
Name of Partner (s)
·
Walid
Al Khiyami
·
Ihsan
Al Khiyami
·
Husam
Al Khiyami
·
Mohamed
Al Khiyami
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations : Engaged in the import
and wholesale of foodstuffs including frozen foods, chicken and meat;
manufacture of ice cream, yoghurt, fruit juices and milk; import of canned food
and dairy products. Subject also operates a number of supermarkets.
Import Countries
: Denmark, Netherlands and
India.
Subject has a
workforce of approximately 350 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Qatar are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
·
United Bank
Ltd
PO Box : 242
Doha
Tel : (974) 4438666 / 4424900
Fax : (974) 4424600
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction February 2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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
company is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 300,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)