MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLUDAN QATAR WLL |
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Registered Office : |
Suhhim Bin Hamad
Street, PO Box 18836, Doha, |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1973 |
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Com. Reg. No.: |
21532, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject’s operations are performed through the following divisions: Bludan
Food Centre, Mewa Food Centre, Bludan Rent A Car, Bludan Real Estate |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BLUDAN QATAR WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1973
Commercial Registration Number : 21532, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 45
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
BLUDAN
QATAR WLL
ADDRESS
Registered & Physical Address
Location : Suhhim Bin Hamad Street
PO Box : 18836
Town : Doha
Country : Qatar
Telephone : (974) 4479139 / 5944830
Facsimile : (974) 4478778
Mobile : (974) 5944830
Email : jainasag@yahoo.co.in
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Rashid
Omar Awad Qatari Managing
Director
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A.
Ja Jaines Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 1973
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 21532, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder (s)
·
Rashid
Omar Awad
·
A.
Ja Jaines
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
·
Bludan Food Centre
Engaged in the wholesale and retail of general foodstuff and canned frozen products.
·
Mewa Food Centre
Wholesalers and
retailers of general foodstuff.
·
Bludan Rent A Car
This division specialises in
car leasing services.
·
Bludan Real Estate
This division
offers real estate services, letting, management and sales.
Import
Countries: India and Asia
Operating Trend: Steady
Subject has a workforce
of 45 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 31,800,000 QR 35,000,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures were confirmed by A. Ja Jaines, Director.
BANKERS
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Doha Bank Ltd
Mushaireb
PO Box : 2822
Doha
Tel : (974) 437555
Fax : (974) 436868
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. |
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UK Pound |
1 |
Rs. |
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Euro |
1 |
Rs. |
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%)