MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
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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 : |
1992 |
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Com. Reg. No.: |
14281, |
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Legal Form : |
Sharikat Thet Massouliya Mahdoudeh (With Limited Liability -
WLL) |
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Line of Business : |
Engaged in the import and distribution of Indian foodstuffs and
ingredients, including rice, spices, edible oils and Masala |
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 :
Country of Origin :
Legal Form :
With Limited Liability - WLL
Registration Date :
1992
Commercial Registration Number :
14281,
Issued Capital :
QR 200,000
Paid up Capital : QR 200,000
Total Workforce :
20
Line of Business :
Distributors of Indian foodstuffs and ingredients.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
ADDRESS
Registered & Physical Address
Location :
PO Box : 9138
Town :
Country :
Telephone : (974) 4651477
Facsimile : (974) 4651738
Email : newindian@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
Abdulrahman Abdullah Al Ansari Managing
Director
Mohamed Aslam Director
Primu Pilal Faisal Director
LEGAL FORM &
OWNERS
Date of Establishment : 1992
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 14281,
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
Abdulrahman Abdullah Al Ansari
Mohamed Aslam
Primu Pilal Faisal
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 Indian foodstuffs and ingredients, including
rice, spices, edible oils and Masala.
Import Countries :
Brand Names : NIRA
Operating Trend : Steady
Subject has a workforce of 20 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
5,090,000 QR
5,710,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Al Ahli Bank of
PO Box : 2309
Tel : (974) 4326611
Fax : (974) 4444652
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction October
2004
Credit amount 35,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Al Ansari & Partners Trading Co WLL has been in business since 1992
and is engaged in the import and distribution of Indian foodstuffs and
ingredients.
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$ 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. |
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%)