MIRA INFORM
REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GENT TRADING CO |
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Registered Office : |
Gold
Souq, Shop No 36, PO Box 21289,
Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
12842, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Wholesale and Retail of Household
Items, Textiles, Fabrics and Readymade Garments |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 60,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GENT TRADING CO
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1990
Commercial Registration Number : 12842, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 5
Activities :
Wholesale and retail of household items, textiles,
fabrics and readymade garments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 60,000
COMPANY NAME
GENT TRADING CO
ADDRESS
Registered & Physical Address
Location : Gold
Souq, Shop No 36
PO Box : 21289
Town : Doha
Country : Qatar
Telephone : (974) 4689405
Facsimile : (974) 4689405
Mobile : (974) 5834393
Email : genttrading@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 Nationality Position
·
Yousef
Abdullah Khamis Al Nuaimi Qatari Managing
Director
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Abdullah
Yousef Abdullah Khamis Al Nuaimi Qatari Director
·
Mohamed
K. Nizar - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1990
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 12842, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
·
Yousef
Abdullah Khamis Al Nuaimi
·
Abdullah
Yousef Abdullah Khamis Al Nuaimi
OPERATIONS
Activities: Engaged in the wholesale and retail of household items, textiles, fabrics and readymade garments.
Import
Countries: India and
Thailand
Operating Trend: Steady
Subject has a
workforce of 5 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 1,100,000 QR 1,450,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Mohamed K. Nizar, General
Manager.
BANKERS
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Mashreq Bank
PO Box : 173
Doha
Tel : (974) 413213 / 414932
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.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
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%)