MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MADAR WROUGHT IRON AND DECORATION |
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Registered Office : |
Nejma
Street, PO Box 2329, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
15061, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of Window Grills, Balconies, Staircases and Decorative Steel |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MADAR WROUGHT IRON AND DECORATION
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1997
Commercial Registration Number : 15061, Doha
Invested Capital : QR 250,000
Total Workforce : 60
Activities : Manufacture of window grills, balconies, staircases and decorative steel
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AL MADAR WROUGHT
IRON AND DECORATION
ADDRESS
Registered &
Physical Address
Location : Nejma
Street
PO Box : 2329
Town : Doha
Country : Qatar
Telephone : (974) 4420162 / 5503597
Facsimile : (974) 4270963
Email : karamat-abbas@yahoo.com
Premises
Subject operates from
a medium sized suite of offices and a workshop that are rented and located in
the Suburban Business Area of Doha.
KEY PRINCIPALS
Name Position
·
Hayder
Abdul Reda Al Mashadi Proprietor
& General Manager
·
Ali
Abdul Reda Al Mashadi Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1997
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 15061, Doha
Invested Capital
: QR 250,000
Mr Hayder Abdul Reda Al Mashadi is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the manufacture of window grills, balconies, staircases and decorative
steel.
Import
Countries: 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 2,500,000 QR 3,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Ali Abdul Reda Al Mashadi,
Assistant General Manager.
BANKERS
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Bank Saderat
Iran
PO Box : 2256
Doha
Tel : (974) 4430346 / 4430344
Fax : (974) 4430121
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
business is considered to be 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.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)