MIRA
INFORM REPORT
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Report Date : |
14.09.2007 |
IDENTIFICATION DETAILS
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Name : |
IBIN AJAYAN
TRADING WLL |
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Registered Office : |
New Industrial
Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1st January 1997 |
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Com. Reg. No.: |
18804, |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Engaged in the
import and distribution of commercial vehicles. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : IBIN AJAYAN TRADING WLL
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 1st January 1997
Commercial Registration Number :
18804,
Membership Number : 3420
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 25
Line of Business : Distributors of commercial vehicles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
IBIN AJAYAN TRADING
WLL
ADDRESS
Registered & Physical Address
Location : New Industrial Area
PO Box : 8173
Town :
Country :
Telephone : (974) 4601771 / 4501021 / 4602606 / 4604606
Facsimile : (974) 4502236 / 4601286 / 4606750
Email : iatrading@ibinajayan.com.qa
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Doha.
KEY PRINCIPALS
·
Mohamed
Mahdi Al Ahbabi Managing
Director
·
Ajayan
Mahdi Al Ahbabi Director
·
Saeed Arab General
Manager
·
Naveen
Khawar Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1st
January 1997
Legal Form :
Sharikat Thet Massouliya Mahdoudeh
(With Limited Liability - WLL)
Commercial Reg. No. : 18804,
Membership
Number : 3420
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Mohamed
Mahdi Al Ahbabi
·
Ajayan
Mahdi Al Ahbabi
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.
AFFILIATED COMPANIES
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Ibin Ajayan Automobiles
· Qatar Express Transport Co
LINE OF BUSINESS
Operations : Engaged in the import and distribution of commercial vehicles, including trucks,
buses, quarry vehicles, forklift trucks and cranes, fire fighting equipment,
lubricants and tyres.
Import Countries
: Europe and the
Brand Names : IVECO, FIAT-KOBELCO, PM CRANES, SKODA, SEAT and ASHOK
Operating Trend
: Steady
Subject has a
workforce of 25 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 11,700,000 QR 12,800,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Doha
Bank Ltd
PO Box : 3818
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
1997, subject is involved in the import and distribution of commercial vehicles, including trucks,
buses, quarry vehicles, forklift trucks and cranes, fire fighting
equipment, lubricants and tyres.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company 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$ 200,000
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%)