MIRA
INFORM REPORT
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Report Date : |
20.10.2008 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
15999, |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Subject’s
operations are performed through the following divisions: Real
Estate Division, Medical Division, Cleaning Division |
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 :
Country of Origin :
Legal Form : With Limited Liability - WLL
Registration Date : 1998
Commercial Registration Number : 15999,
Chamber Membership Number : 1991
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
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$ 250,000
COMPANY NAME
ADDRESS
Registered & Physical Address
Location :
PO Box : 1563
Town :
Country :
Telephone : (974) 4665417
Facsimile : (974) 4665410
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Position
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Sheikh
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Mohamed Bin
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Khalid Bin
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Salah Shaheen Real
Estate Division Manager
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Alaa Amana Medical
Division Manager
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Gamal Shaheen Cleaning
Division Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
With Limited Liability -
WLL
Commercial Reg. No. : 15999,
Chamber Member No. : 1991
Issued Capital : QR 500,000
Paid up Capital : QR 500,000
Name of Shareholder (s)
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Sheikh
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Mohamed Bin
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Khalid Bin
OPERATIONS
Activities: Subject’s operations are performed through
the following divisions:
· Real Estate Division
This division offers real
estate services including property handling and villa development.
· Medical Division
Engaged in the
import and distribution of medical supplies and dental products.
· Cleaning Division
Engaged in the
provision of general cleaning services for buildings, schools, and offices.
Import
Countries: Europe and
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 14,500,000 QR 17,100,000
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
Tel : (974) 4428686
Fax : (974) 4428734
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.83 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)