MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALMANA AND PARTNERS WLL |
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Registered Office : |
Al Jasra Area, PO
Box 49, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
1959 |
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Com. Reg. No.: |
9134, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Interests in Office Automation,
Office Equipment, Office Furniture, Consumer Products (FMCG), Consumer Electronics,
Household Appliances, Interior Design and Contract Furnishing, Travel and
Tour Services, Oil and Gas, Manufacturing and Joint Ventures. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 800,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ALMANA AND PARTNERS WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Start Date : 1959
Registration Date : 1991
Commercial Registration Number : 9134, Doha
Chamber Membership Number : 1/1136
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 340
Activities :
Interests in Office Automation, Office Equipment,
Office Furniture,
Consumer Products (FMCG), Consumer
Electronics, Household
Appliances, Interior Design & Contract
Furnishing, Travel & Tour Services, Oil & Gas, Manufacturing and Joint
Ventures.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 800,000
COMPANY NAME
ALMANA AND PARTNERS
WLL
ADDRESS
Registered & Physical Address
Location : Al Jasra Area
PO Box : 49
Town : Doha
Country : Qatar
Telephone : (974) 4422221
Facsimile : (974) 4439610
Email : almanaco@qatar.net.qa
Premises
Subject operates
from a large suite of offices that are rented and located in the Central Business
Area of Doha.
KEY PRINCIPALS
Name Position
·
Saad Mohamed
Abdullatif Almana Chairman
·
Khalid Mohamed
Abdullatif Almana Managing
Director
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Ahmed Abdul
Rahman Almana Director
·
Abdulla Abdul
Rahman Almana Director
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1959, however it was registered in 1991
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 9134, Doha
Chamber Member No. : 1/1136
Issued Capital : QR 1,000,000
Paid up Capital :
QR 1,000,000
Name of Shareholder (s)
·
Saad Mohamed
Abdullatif Almana
·
Khalid Mohamed
Abdullatif Almana
·
Ahmed Abdul
Rahman Almana
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Abdulla Abdul
Rahman Almana
AFFILIATED COMPANIES
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Qatar Cleaning
Company
PO Box 5772
Doha
Qatar
Tel: (974) 4870083
Fax: (974) 4872610
Email: qccclean@qatar.net.qa
·
Almana
Engineering & Contracting Company
PO Box 1909
Doha
Qatar
Tel: (974) 4328390
Fax: (974) 4427294
Email: almanae@qatar.net.qa
OPERATIONS
Activities: Subject is a
fully diversified and professionally managed business group with interests in
Office
Automation, Office Equipment, Office Furniture, Consumer Products
(FMCG), Consumer Electronics, Household Appliances, Interior Design &
Contract Furnishing, Travel & Tour Services, Oil & Gas, Manufacturing
and Joint Ventures.
Import
Countries: Europe, United
States of America and the Far East.
International Suppliers:
· Konica Minolta Japan
· Godrej India
· Alcad Ltd United Kingdom
· Cebag BV Netherlands
· Frigidaire International United States of America
Subject has a
workforce of approximately 340 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
·
HSBC Bank
Middle East
Abdullah Bin Jassim Street
PO Box : 57
Doha
Tel : (974) 4423124
Fax : (974) 4416353
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ANZ Grindlays
Bank Plc
Rayyan Road
PO Box : 2001
Doha
Tel : (974) 4418222 / 4327711
Fax : (974) 4428077
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Standard
Chartered Bank
Abdullah Bin Jassim Road
PO Box : 29
Doha
Tel : (974) 4414252
Fax : (974) 4413739
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
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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%)