MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL HASSABI TRADING EST |
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Registered Office : |
Garafa Road, PO Box 92071,
Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
17731, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Building Materials,
Paints, and Hardware. |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL HASSABI TRADING EST
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1995
Commercial Registration Number : 17731, Doha
Chamber Membership Number : 4245
Invested Capital : QR 100,000
Total Workforce : 12
Activities : Wholesale and retail of building materials, paints, and hardware.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
AL HASSABI TRADING EST
ADDRESS
Registered & Physical Address
Location : Garafa Road
PO Box : 92071
Town : Doha
Country : Qatar
Telephone : (974) 4863499
Facsimile : (974) 4874606
Mobile : (974) 5892338
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Suburban Business Area of Doha.
KEY PRINCIPALS
Name Position
· Mohamed
Saad Mohamed Al Hargan Proprietor
& General Manager
· Mohamed
Abdo Assistant
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1995
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 17731, Doha
Chamber Member No. : 4245
Invested Capital : QR 100,000
Mr Mohamed Saad Mohamed Al Hargan is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of building materials, paints, and hardware.
Import Countries: China and India
Operating Trend: Steady
Subject has a workforce of 12 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales QR
6,100,000 QR
6,850,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of Qatar Ltd (QSC)
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
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 and
the above credit figure is within subject’s financial means.
The financial information contained within this report has been
confirmed by Mr Mohamed Saad Mohamed Al Hargan –
Proprietor.
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%)