MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
DARWISH TRADING CO WLL |
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Registered Office : |
Salwa
Road, P O Box 92, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1975 |
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Com. Reg. No.: |
33, Doha |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Wholesale and retail of household appliances, air conditioning units, electrical equipment and building materials |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DARWISH TRADING CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1975
Commercial Registration Number : 33, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 45
Activities :
Wholesale and retail of household appliances, air
conditioning units,
electrical equipment and building materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
DARWISH TRADING CO
WLL
ADDRESS
Registered & Physical Address
Location : Salwa
Road
PO Box : 92
Town : Doha
Country : Qatar
Telephone : (974) 4422781 / 4426378
Facsimile : (974) 4417599
Email : kdgroup@qatar.net.qa
Premises
Subject operates
from a medium sized suite of offices, a showroom and storage facilities that
are rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Position
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Hassan
Kassim Darwish Fakhroo Managing
Director
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Nasser
Kassim Darwish Fakhroo Director
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Ali
Kassim Darwish Fakhroo Director
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Khalid
Kassim Darwish Fakhroo Director
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Dr
Saleh Shehda General
Manager
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Sameh
Hamouri Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1975
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 33, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Hassan
Kassim Darwish Fakhroo
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Nasser
Kassim Darwish Fakhroo
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Ali
Kassim Darwish Fakhroo
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Khalid
Kassim Darwish Fakhroo
OPERATIONS
Activities: Engaged in the wholesale and retail of household appliances, air conditioning
units, electrical equipment and building materials.
Import
Countries: India, China,
Taiwan and Japan
Operating Trend: Steady
Subject has a
workforce of 45 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:
Total Sales QR 21,400,000 QR 22,790,000
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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Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box 3232
Doha
Tel: (974) 4428686
Fax: (974) 4428734
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
company is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.82 |
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UK Pound |
1 |
Rs.73.08 |
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Euro |
1 |
Rs.65.56 |
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%)