MIRA
INFORM REPORT
|
Report Date : |
13.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DANISH TRADING CO |
|
|
|
|
Registered Office : |
Souq
Waqif, Al Jasra Area, PO Box
141, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
1961 |
|
|
|
|
Com. Reg. No.: |
285, Doha |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Wholesale and Retail of Sweets and Confectionery. |
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$ 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : DANISH TRADING CO
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1961
Commercial Registration Number : 285, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Total Workforce : 15
Activities : Wholesale and retail of sweets and confectionery.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
DANISH TRADING CO
ADDRESS
Registered & Physical Address
Location : Souq
Waqif, Al Jasra Area
PO Box : 141
Town : Doha
Country : Qatar
Telephone : (974) 4443575
/ 4423583
Facsimile : (974) 4434522
Mobile : (974) 5820904
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Doha.
KEY PRINCIPALS
Name Position
·
Ahmed
Mohamed Hassan Danish Lari Managing
Director
·
Yousef
Ahmed Mohamed Hassan Danish Lari Director
·
Yonas
Ahmed Mohamed Hassan Danish Lari Director
·
Jawad
Ghulam Reza General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1961
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 285, Doha
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder (s)
·
Ahmed
Mohamed Hassan Danish Lari
·
Yousef
Ahmed Mohamed Hassan Danish Lari
·
Yonas
Ahmed Mohamed Hassan Danish Lari
OPERATIONS
Activities: Engaged in the wholesale and retail of
sweets and confectionery.
Import
Countries: India, Saudi
Arabia and Iran
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 3,380,000 QR 3,500,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Jawad Ghulam Reza,
General Manager.
BANKERS
·
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 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%)