MIRA
INFORM REPORT
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Report Date : |
01.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
QATAR FOOD & SERVICE WLL |
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Registered Office : |
Street
No. 1, Industrial Area, PO Box 9130, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
22.04.2004 |
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Com. Reg. No.: |
25999, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of General
Foodstuff |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : QATAR FOOD & SERVICE WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 22nd April 2004
Commercial Registration Number : 25999, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 15
Activities : Import and distribution of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
QATAR FOOD &
SERVICE WLL
ADDRESS
Registered & Physical Address
Street : Street
No. 1
Area : Industrial
Area
PO Box : 9130
Town : Doha
Country : Qatar
Telephone : (974) 4500801
Facsimile : (974) 4500802
Email : qatarfood@gmail.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and located
in the Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Shams Uddine Olakar Indian Managing
Director
·
Mohamed
Ibrahim Al Maliki Qatari Director
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Mohamed
Rafiq - General Manager
·
Mohiddine
Mohamed
- Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
April 2004
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 25999, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
·
Shams Uddine Olakar
·
Mohamed
Ibrahim Al Maliki
AFFILIATED COMPANIES
·
Quality Foods
& Service WLL
Street No. 1
Industrial Area
PO Box 9130
Doha
Qatar
Tel: (974) 4500901/
4503935 / 4604785
Fax:
(974) 4500902
Email:
qfsqatar@qatar.net.qa
Mr Shams
Uddine Olakar also owns a stake in the above concern.
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff, including dried food, sea food, frozen
meat and chicken.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 15 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 1,500,000 QR 2,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Mohiddine Mohamed,
Assistant General Manager.
BANKERS
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Doha Bank Ltd
PO Box : 3818
Doha
Tel : (974) 4435444
Fax : (974) 4416631 / 4410625
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.43.28 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.24 |
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%)