MIRA INFORM REPORT

 

Report Date :           

03.08.2011

 

IDENTIFICATION DETAILS

 

Name :

DARWISH TRADING CO WLL

 

 

Registered Office :

Qassim Darwish Fakhroo Building, Salwa Road, P O Box 92 & 350,: Doha

 

 

Country :

Qatar

 

 

Date of Incorporation :

01.01.1975

 

 

Com. Reg. No.:

33, Doha

 

 

Legal Form :

With Limited Liability

 

 

Line of Business :

Subject operates through several divisions through Domestic Appliances Division, Foodstuff Division, Real Estate Division and Travel Division

 

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$ 1,100,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Qatar

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

SUMMARY

 

Company Name                                     : DARWISH TRADING CO WLL

Country of Origin                                    : Qatar

Legal Form                                            : With Limited Liability - WLL

Registration Date                                   : 1st January 1975

Commercial Registration Number            : 33, Doha

Chamber Membership Number                : 1447/1

Issued Capital                                        : QR 3,900,000

Paid up Capital                                      : QR 3,900,000

Total Workforce                                     : 600

Activities                                               : Subject operates several divisions (see below for details)

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 1,100,000

 

COMPANY NAME

 

DARWISH TRADING CO WLL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Qassim Darwish Fakhroo Building

Street               : Salwa Road

PO Box             : 92 & 350

Town                 : Doha

Country             : Qatar

Telephone         : (974) 44422781 / 44222781 / 44426378 / 44669553

Facsimile          : (974) 44417599 / 44426378

Email                : dtcmgt@darwish-trading.com / kdgroup@qatar.net.qa

 

Premises

Subject operates from a large suite of offices, a showroom and storage facilities that are rented and located in the Central Business Area of Doha.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Hassan Kassim Darwish Fakhroo                                                       Managing Director

 

·       Nasser Kassim Darwish Fakhroo                                                        Director

 

·       Ali Kassim Darwish Fakhroo                                                              Director

 

·       Khalid Kassim Darwish Fakhroo                                                         Director

 

·       Dr Saleh Shehda                                                                               General Manager

 

·       Sameh Hamouri                                                                                Sales Manager

 

·       Moiz Ahmed                                                                                     Commercial Manager

 

·       Tawfiq Mohamed                                                                               Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st January 1975

 

Legal Form                  : With Limited Liability - WLL

 

Commercial Reg. No.  : 33, Doha

 

Chamber Member No. : 1447/1

 

Issued Capital              : QR 3,900,000

 

Paid up Capital            : QR 3,900,000

 

Name of Shareholder (s)

 

·       Hassan Kassim Darwish Fakhroo

 

·       Nasser Kassim Darwish Fakhroo

 

·       Ali Kassim Darwish Fakhroo

 

·       Khalid Kassim Darwish Fakhroo

 

 

AFFILIATED COMPANIES

 

·       Darwish Mechanical & Electrical Co WLL

Doha

Tel: (974) 44422810

Fax: (974) 44434971

 

·       Darwish Contracting Co WLL

Doha

Tel: (974) 44430670

Fax: (974) 44417779

 

·       Darwish Elevators Co WLL (OTIS)

Doha

Tel: (974) 44328261

Fax: (974) 44325752

 

·       Gulf Timber & Joinery Co WLL

Doha

Tel: (974) 44600822

Fax: (974) 44602584

 

Qatar Communication Co WLL

Doha

Tel: (974) 44424347

Fax: (974) 44324777

 

·       Arabesque GRC

Doha

Tel: (974) 44600107

Fax: (974) 44602933

 

·       Gulf Aluminium Co WLL

Doha

Tel: (974) 44606590

Fax: (974) 44603827

 

·       Oasis Hotel & Beach Club

Doha

Tel: (974) 44424424

Fax: (974) 44327096

 

·       Darwish Travel Co WLL

Doha

Tel: (974) 44433120

Fax: (974) 44323566

 

·       Darwish Travel Bureau

Doha

Tel: (974) 44418666

Fax: (974) 44427711

 

·       Qatar Tours

Doha

Tel: (974) 44411414

Fax: (974) 44433197

 

·       Qatar Travels

Doha

Tel: (974) 44428001

Fax: (974) 44428004

 

·       QNT Cargo

Doha

Tel: (974) 44419258

Fax: (974) 44419354

 

·       Darwish Holidays

Doha

Tel: (974) 44411414

Fax: (974) 44433197

 

·       Gulf Automobiles & Trading Co WLL

Doha

Tel: (974) 44654777

Fax: (974) 44600139

 

 

OPERATIONS

 

Activities: Subject’s operations are performed through the following divisions:

 

·       Domestic Appliances Division

 

     Engaged in the wholesale and retail of domestic appliances, electrical goods and air conditioning units.

 

·       Foodstuff Division

 

     Engaged in the import and distribution of general foodstuff products

 

·       Real Estate Division

 

     Engaged as real estate developers and agents.

 

·       Travel Division

 

     Operators of travel and tourism services

 

Import Countries: India, China, Taiwan and Japan

 

Subject has a workforce of approximately 600 employees.

 

 

FINANCIAL DATA

 

Companies registered in Qatar are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Commercial Bank of Qatar Ltd (QSC)

Salwa Road

PO Box: 3232

Doha

Tel: (974) 44428686

Fax: (974) 44428734

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              December 2008

Credit amount                                        150,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.23

UK Pound

1

Rs.72.09

Euro

1

Rs.62.99

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.