MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAFARI TRADING EST |
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Registered Office : |
Salwa
Road, PO Box 20545, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
14688, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of
General Foodstuff and Non Food Items |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SAFARI TRADING EST
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1992
Commercial Registration Number : 14688, Doha
Invested Capital : QR 100,000
Total Workforce : 30
Activities : Import and distribution of general foodstuff and non food items
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
SAFARI TRADING EST
ADDRESS
Registered & Physical Address
Location : Salwa
Road
PO Box : 20545
Town : Doha
Country : Qatar
Telephone : (974) 4433707 / 4583583
Facsimile : (974) 4683268
Email : safarhm@qatar.net.qa
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Central Business Area of Doha.
KEY PRINCIPALS
Name Position
·
Hamd
Dafer Al Hababi Proprietor
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Abu
Baker Pradappat General
Manager
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Rajish
Parasad Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 14688, Doha
Invested Capital
: QR 100,000
Mr Hamd Dafer Al Hababi is the sole proprietor of the
business.
AFFILIATED COMPANIES
·
Safari
Hypermarket
Doha
CR No. 29308
OPERATIONS
Activities: Engaged in the import
and distribution of general foodstuff and non food items such as perfumes
and
cosmetics.
Import
Countries: India, Belgium,
Thailand and Asia
Operating Trend: Steady
Subject has a
workforce of 30 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 10,000,000 QR 12,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Rajish Parasad, Sales
Manager.
BANKERS
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Commercial
Bank of Qatar Ltd (QSC)
Salwa Road
PO Box : 3232
Doha
Tel : (974) 4428686
Fax : (974) 4428734
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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%)