MIRA INFORM REPORT

 

 

Report Date :

13.02.2008

 

IDENTIFICATION DETAILS

 

Name :

AL MAJID JAWAD (AMJAD) WLL

 

 

Registered Office :

City Investment Building, Office No. 3,  “C” Ring Road, PO Box 19100, Doha

 

 

Country :

Qatar

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

1996

 

 

Com. Reg. No.:

16369, Doha

 

 

Legal Form :

With Limited Liability - WLL

 

 

Line of Business :

Marketing Agency Specialising in Consumable Products and General Foodstuff Items.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 300,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : AL MAJID JAWAD (AMJAD) WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 1996

Commercial Registration Number            : 16369, Doha

Issued Capital                                        : QR 500,000

Paid up Capital                                      : QR 500,000

Total Workforce                                     : 65

Line of Business                                    : Subject operates several divisions (see below for details).

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

COMPANY NAME

 

AL MAJID JAWAD (AMJAD) WLL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : City Investment Building, Office No. 3

Street               : “C” Ring Road

PO Box             : 19100

Town                 : Doha

Country             : Qatar

Telephone         : (974) 4356440

Facsimile          : (974) 4357350

Email                : amj@qatar.net.qa

 

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Doha.

 

 

Branch Office (s)

 

     Location                                                                               Description

 

·       Ramada Hotel                                                                       Restaurant premises

     Doha

 

·       Landmark Shopping Mall                                                        Restaurant premises

     Doha

 

 

KEY PRINCIPALS

 

·       Ahmed Mahdi Al Majid                                                           Managing Director

 

·       Faisal Hassan Jawad                                                 Director

 

·       Anil Ibrahim                                                                          General Manager

 

·       Kevin Critshell                                                                       Operations Manager

 

·       Anil Ibrahim                                                                          Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1996

 

Legal Form                  : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)

 

Commercial Reg. No.  : 16369, Doha

 

Issued Capital              : QR 500,000

 

Paid up Capital            : QR 500,000

 

 

Name of Shareholder (s)

 

·       Ahmed Mahdi Al Majid

 

·       Faisal Hassan Jawad

 

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

 

·       Al Majid Group

Doha

     Tel: (974) 4478478

     Fax: (974) 4477700

 

 

LINE OF BUSINESS

 

Operations : Subject’s activities are performed through the following divisions:

 

·       Marketing Distribution Agency (MDA) Division:

 

       Under this division subject operates as a marketing agency specialising in consumable products and general foodstuff items.

 

·       Restaurant Division

 

Through this division the company operates two fast food restaurants under franchise from “Dairy Queen” of the United States of America.

 

Import Countries : Italy, United Kingdom, Thailand, New Zealand, Brazil and the United

      States of America.

 

 

Agencies Held:

 

·       Azipal Chicken                      Brazil

·       Jasmine Rice                        Thailand

·       Anchor Milk Powder              New Zealand

·       Highland Spring Water Ltd     United Kingdom

·       Nestle Products                    Italy

·       Amrol Confectionery Corp      United States of America

·       Cumberland Packing Corp      United States of America

 

Operating Trend : Steady

 

Subject has a workforce of 65 employees.

 

 

FINANCIAL HIGHLIGHTS

 

Financial highlights provided by outside sources are given below :

 

Currency : Qatari Riyals (QR)

 

                                                Year Ending 31/12/06:                Year Ending 31/12/07:

 

Total Revenue                            QR 22,385,000                          QR 24,075,000

 

Local sources consider subject’s financial condition to be Fair.

 

 

BANKERS

 

·       Commercial Bank of Qatar Ltd (QSC)

PO Box : 3232

Doha

Tel : (974) 4490222

Fax : (974) 4438182

 

·       Doha Bank Ltd

Al Jasrah Street

PO Box : 3818

Doha

Tel : (974) 4435444

Fax : (974) 4416631 / 4410625

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction         September 2000            June 2003                     September 2003

Credit amount                20,000                          100,000             300,000

Amount overdue 0                                  0                                  0

Payment terms              60 days                         60 days                         60 days

Payment Method           Letters of Credit             Letters of Credit             Letters of Credit

Paying record                No Complaints               No Complaints               No Complaints

Currency                       Pounds Sterling             US Dollars                     US Dollars

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000:

 

Al Majid Jawad (Amjad) WLL was incorporated in 1996 and operates two divisions. The first is a marketing agency specialising in consumable products and general foodstuff items, and deals with a host of well known international agencies. Secondly the company operates a restaurant division which holds a franchise agreement with Dairy Queen of the USA, under which the subject operates 2 fast food outlets.

 

During the course of this investigation nothing detrimental was uncovered regarding the manner in which payment obligations are fulfilled. The operating history is clear and the financial situation is satisfactory. As such we are of the opinion that the subject is a fair trade risk and the above credit figure is admissible.

 

Maximum suggested credit figure: US$ 300,000

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions