MIRA
INFORM REPORT
|
Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AL SIDDIQI INTERNATIONAL GROUP |
|
|
|
|
Registered Office : |
Al Andalus Compound, Building No. 4, "D"
Ring Road, PO Box 55533, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Date of Incorporation : |
1992 |
|
|
|
|
Com. Reg. No.: |
11098, Doha |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Retailers of Arabic Dress for Ladies, Retail of Photographic Equipment and Supplies and Operators of a Restaurant. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL SIDDIQI INTERNATIONAL GROUP
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1992
Commercial Registration Number : 11098, Doha
Chamber Membership Number : 1034
Invested Capital : QR 900,000
Total Workforce : 120
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
AL SIDDIQI INTERNATIONAL GROUP
ADDRESS
Registered & Physical Address
Building : Al Andalus
Compound, Building No. 4
Street : "D" Ring Road
PO Box : 55533
Town : Doha
Country : Qatar
Telephone : (974) 4666581
Facsimile : (974) 4666584
Email : judy@almotahajiba.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 Position
· Nasser
Abdullah Al Sidiqi Proprietor
& General Manager
· Farook
Abdullah Al Siddiqi Assistant
General Manager
· Shareef
Halim Mohamed Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1992
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 11098, Doha
Chamber Member No. : 1034
Invested Capital : QR 900,000
Mr Nasser Abdullah Al Sidiqi is the
sole proprietor of the business.
OPERATIONS
Activities: Subject’s activities are performed through the following divisions:
·
Al Motahajiba Division
Engaged
as retailers of Arabic dress for ladies.
·
Photographic World
Under
this division subject is engaged in the retail of photographic equipment and
supplies.
·
Bila Restaurant
Operators of a restaurant.
Import Countries: India and the Middle East
Subject has a workforce of approximately 120 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
·
Commercial Bank of Qatar Ltd (QSC)
PO Box : 3232
Doha
Tel : (974) 4490222
Fax : (974) 4438182
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)