MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAAD BIN MAJID AL SAAD ESTABLISHMENT |
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Registered Office : |
Mushrieb Street, PO Box 5241,
Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
7910, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Electrical
Products, Switches, Cable and Panels. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SAAD BIN MAJID AL SAAD ESTABLISHMENT
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 2001
Commercial Registration Number : 7910, Doha
Chamber Membership Number : 2646
Invested Capital : QR 50,000
Total Workforce : 11
Activities : Wholesale and retail of electrical products, switches, cable and panels.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
SAAD BIN MAJID AL SAAD ESTABLISHMENT
ADDRESS
Registered & Physical Address
Location : Mushrieb
Street
PO Box : 5241
Town : Doha
Country : Qatar
Telephone : (974) 4325579 /
4310761
Facsimile : (974) 4322819
Email : saadbinmajid@qatar.net.qa
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Position
· Saad
Bin Majid Al Saad Proprietor
& General Manager
· Naeem
Mushtaaq Sales
Manager
· Mohamed
Hussain Marketing
Manager
· Ahmed
Walabrameel Accounts
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2001
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 7910, Doha
Chamber Member No. : 2646
Invested Capital : QR 50,000
Mr Saad Bin Majid Al Saad is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of electrical
products, switches, cable and panels.
Import Countries: Japan, United Kingdom and the United States of
America.
Operating Trend: Steady
Subject has a workforce of 11 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
7,100,000 QR
7,250,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
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Doha Bank Ltd
Mushrieb Street
PO Box : 2822
Doha
Tel : (974) 437555
Fax : (974) 436868
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.
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%)