MIRA
INFORM REPORT
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Report Date : |
29.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL JAREH CARGO AND CLEARANCE COMPANY |
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Registered Office : |
Al Waaba Street PO Box 22969, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
20887, Doha |
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Legal Form : |
Private
Shareholding Company |
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Line of Business : |
Providers of Cargo
and Clearance Services |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL JAREH CARGO AND
CLEARANCE COMPANY
Country of Origin : Qatar
Legal Form :
Private Shareholding Company
Registration Date : 2005
Commercial Registration
Number : 20887, Doha
Membership Number : 10210
Issued Capital : QR
7,500,000
Paid up Capital : QR
7,500,000
Total Workforce : 45
Line of Business : Providers
of cargo and clearance services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
AL JAREH CARGO AND CLEARANCE COMPANY
ADDRESS
Registered & Physical Address
Location : Al Waaba
Street
PO Box : 22969
Town : Doha
Country : Qatar
Telephone : (974-4) 680300
Facsimile : (974-4) 681300
Email : info@aljareh.com.qa
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
· Mohamed Saleh Al Kawari Managing
Director
· Khalid Mohamed Al
Kibisi Director
· Ali Mohamed Al
Kibisi Director
· Mohamed Bin Nasser
Al Attiya Director
LEGAL FORM & OWNERS
Date of
Establishment : 2005
Legal Form : Private
Shareholding Company
Commercial Reg.
No. : 20887, Doha
Membership No. : 10210
Issued Capital : QR 7,500,000
Paid up Capital : QR 7,500,000
Name of Shareholder (s)
· Mohamed Saleh Al
Kawari
· Khalid Mohamed Al
Kibisi
· Ali Mohamed Al
Kibisi
· Mohamed Bin Nasser
Al Attiya
LINE OF BUSINESS
Operations: Engaged in the provision of cargo and clearance services.
Subject has a workforce of 45 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Qatari Riyals (QR)
Year
Ending 31/12/06 :
Total Revenue QR
12,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of Qatar Ltd (QSC)
Salwa Road
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2005, subject is involved in the provision of cargo and
clearance services.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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%)