MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GROUP ISLAMIC ARABIAN TRADING AND CONTRACTING CO |
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Registered Office : |
Salwa
Road, PO Box 22843, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
11704, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Import and Distribution of general building materials. Subject
also undertakes general construction and building maintenance contracting
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 : GROUP ISLAMIC ARABIAN TRADING AND CONTRACTING CO
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1995
Commercial Registration Number : 11704, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 113
Activities : Import and distribution of general building materials. Subject also
undertakes general construction and building maintenance contracting
services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
GROUP ISLAMIC
ARABIAN TRADING AND CONTRACTING CO
ADDRESS
Registered & Physical Address
Location : Salwa
Road
PO Box : 22843
Town : Doha
Country : Qatar
Telephone : (974) 5842684
Facsimile : (974) 4551917
Email : ammarsadder@yahoo.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Ammar
Al Sadder Palestinian Managing
Director
·
Khalid
Issa Al Nassir Qatari Director
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 11704, Doha
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder (s)
·
Ammar
Al Sadder
·
Khalid
Issa Al Nassir
OPERATIONS
Activities: Engaged in the import and distribution of general
building materials. Subject also undertakes general
construction and building
maintenance contracting services.
Import
Countries: India and China
Subject has a
workforce of 113 employees.
FINANCIAL DATA
Companies
registered in Qatar are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
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.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)