MIRA
INFORM REPORT
|
Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AL RASHEED CARPENTRY |
|
|
|
|
Registered Office : |
Industrial Area,
PO Box 11436, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Com. Reg. No.: |
17543, Doha |
|
|
|
|
Legal Form : |
With Limited Liability - WLL |
|
|
|
|
Line of Business : |
Production of Wooden Windows and Doors as well as Offering Joinery Services Import and Distribution of Building Materials, Construction Equipment, Hardware and Tools |
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 : AL RASHEED CARPENTRY
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1995
Commercial Registration Number : 17543, Doha
Chamber Membership Number : 2620
Issued Capital : QR 700,000
Paid up Capital : QR 700,000
Total Workforce : 60
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AL RASHEED
CARPENTRY
ADDRESS
Registered & Physical Address
Location : Industrial Area
PO Box : 11436
Town : Doha
Country : Qatar
Telephone : (974) 4460224 / 4515393 / 44600245
Facsimile : (974) 4600245
Email : alrasheedtrading@hotmail.com
Premises
Subject operates
from a medium sized suite of offices, a workshop and a warehouse that are rented
and located in the Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Saad
Abdulaziz Al Saad Qatari Managing
Director
·
Hamad
Ismail Abu Shanb Palestinian Director
·
Sami
Hamad Ismail Abu Shanb Palestinian Director
·
Ahmed
Hassan - Administrative
Officer
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 17543, Doha
Chamber Member No. : 2620
Issued Capital : QR 700,000
Paid up Capital : QR 700,000
Name of Shareholder (s)
·
Saad
Abdulaziz Al Saad
·
Hamad
Ismail Abu Shanb
·
Sami
Hamad Ismail Abu Shanb
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Carpentry Division
Engaged in the production of
wooden windows and doors as well as offering joinery services.
·
Building Materials Division
Engaged in the import and
distribution of building materials, construction equipment, hardware and tools.
Import
Countries: China and India
Operating Trend: Steady
Subject has a
workforce of 60 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 5,800,000 QR 6,500,000
Local sources
consider subject’s financial condition to be Fair.
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
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.
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%)