MIRA
INFORM REPORT
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Report Date : |
28.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASKLAN TRADING & AGRICULTURE |
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Registered Office : |
Dar Sarakarwah, PO Box 10071, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
18739, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject’s activities are performed through the following divisions: Landscaping & Irrigation Division Trading Division |
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 :
ASKLAN TRADING & AGRICULTURE
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
1998
Commercial Registration Number :
18739, Doha
Issued Capital :
QR 200,000
Paid up Capital :
QR 200,000
Total Workforce :
70
Line of Business :
Subject operates several divisions (see below for details)
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
ASKLAN TRADING & AGRICULTURE
ADDRESS
Registered & Physical Address
Location : Dar Sarakarwah
PO Box : 10071
Town : Doha
Country : Qatar
Telephone : (974) 4323022
Facsimile : (974) 4314889
Email : asklan_1959@yahoo.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Suburban Business Area of Doha.
KEY PRINCIPALS
· Awad
Abdul Gawi Saleh Al Abdali Managing
Director
· Hamd
Awad Abdul Gawi Saleh Al Abdali Director
· Hussain
Mohamed Salem General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1998
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg.
No. : 18739, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
· Awad
Abdul Gawi Saleh Al Abdali
· Hamd
Awad Abdul Gawi Saleh Al Abdali
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 ofmembers is restricted to the nominal value of their shares in the registered capital.
AFFILIATED COMPANIES
· Modern
System For Engineering & Agriculture
Doha
Tel:
(974) 4582091
Fax:
(974) 4728774
LINE OF BUSINESS
Operations : Subject’s activities are performed through the
following divisions:
·
Landscaping & Irrigation Division
Engaged
in the provision of landscaping and irrigation contracting services.
·
Trading Division
Engaged
in the import and distribution of agricultural machinery,
chemicals and fertilizers.
Import Countries : Saudi Arabia, China and India.
Operating Trend : Steady
Subject has a workforce of 70 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
17,280,000 QR
18,650,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Qatar International Islamic Bank
PO Box : 664
Doha
Tel : (974) 435535 / 435548
Fax : (974) 444101
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 within subject’s financial means.
Maximum suggested credit figure: US$ 200,000
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%)