MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL FATHIMIYA TRADING & CONTRACTING EST |
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Registered Office : |
Titanic Building,
Street No. 18, Industrial
Area, Al Attiya Market, PO Box
15300, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1983 |
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Com. Reg. No.: |
14650, Doha |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of General Merchandise, Specialising in Foodstuff, Stationery and Novelty Items. Import and Distribution of Heavy Equipment and Construction Machinery General
Contractors Specialising in Building and Construction Works. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL FATHIMIYA TRADING & CONTRACTING EST
Country of Origin : Qatar
Legal Form : Sole Proprietorship
Registration Date : 1983
Commercial Registration Number : 14650, Doha
Invested Capital : QR 150,000
Total Workforce : 120
Activities : Subject operates several divisions (see below for details)
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
AL FATHIMIYA
TRADING & CONTRACTING EST
ADDRESS
Registered & Physical Address
Building : Titanic Building
Street : Street
No. 18
Area : Industrial
Area, Al Attiya Market
PO Box : 15300
Town : Doha
Country : Qatar
Telephone : (974) 4606776
Facsimile : (974) 4607667
Mobile : (974) 5803941
Email : cgabraham@hotmail.com
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Industrial Area of Doha.
KEY PRINCIPALS
Name Nationality Position
·
Sultan
Bin Ali Bin Hamad Al Attiya Qatari Proprietor & General Manager
·
C.
G. Abraham - Administration
Manager
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Suraish
Nair - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1983
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 14650, Doha
Invested Capital
: QR 150,000
Sultan Bin
Ali Bin Hamad Al Attiya is the
sole proprietor of the business.
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Trading Division
Engaged in the import and distribution of general
merchandise, specialising in foodstuff, stationery
and novelty items.
·
Heavy Equipment Division
Engaged in the
import and distribution of heavy equipment and construction machinery.
· Contracting Division
Engaged as general contractors
specialising in building and construction works.
Import
Countries: India, Japan,
China, Europe and the United States of America
Operating Trend: Steady
Subject has a
workforce of approximately 120 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 38,750,000 QR 41,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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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
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.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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%)