MIRA
INFORM REPORT
|
Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CEEJAY INTERNATIONAL WLL |
|
|
|
|
Registered Office : |
Old
Al Ghanim Street, PO Box
55625, Doha |
|
|
|
|
Country : |
Qatar |
|
|
|
|
Year of Establishment : |
2007 |
|
|
|
|
Legal Form : |
With Limited Liability – WLL |
|
|
|
|
Line of Business : |
Wholesale and retail of carpets, soft furnishings and home appliances |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
US$ 75,000 |
|
|
|
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
So Far Correct |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : CEEJAY INTERNATIONAL WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 2007
Chamber Membership Number : 13714
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Total Workforce : 5
Activities : Wholesale and retail of carpets, soft furnishings and home appliances
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
Person Interviewed : Cithari Rajan, Director
COMPANY NAME
CEEJAY
INTERNATIONAL WLL
ADDRESS
Registered &
Physical Address
Location : Old Al Ghanim
Street
PO Box : 55625
Town : Doha
Country : Qatar
Telephone : (974) 5853998
/ 4355787
Facsimile : (974) 4355787
Email : ceejayinternational@qatar.net.qa
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 Nationality Position
·
Saeed
Mubarak Saeed Qatari Managing
Director
·
Cithari
Rajan Indian Director
LEGAL FORM & OWNERS
Date of Establishment : 2007
Legal Form :
With Limited Liability -
WLL
Chamber Member No. : 13714
Issued Capital : QR 200,000
Paid up Capital : QR 200,000
Name of Shareholder
(s)
·
Saeed
Mubarak Saeed
·
Cithari
Rajan
OPERATIONS
Activities: Engaged in the wholesale and retail of carpets, soft furnishings and home appliances.
Import
Countries: India, Pakistan
and Iran
Subject has a
workforce of 5 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Mashreq Bank
PO Box : 173
Doha
Tel : (974) 413213 / 414932
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken
in Doha did not reveal any sign of payment defaults or delays during initial
trading stages, and subject is believed to meet its payment obligations in a
timely manner, nevertheless, and in view of the company’s infancy and the lack
of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.99 |
|
UK Pound |
1 |
Rs.72.14 |
|
Euro |
1 |
Rs.61.57 |
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%)