MIRA
INFORM REPORT
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Report Date : |
05.12.2011 |
IDENTIFICATION DETAILS
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Name : |
QATAR FOOD FACTORIES CO WLL |
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Registered Office : |
Gate No. 104, Street No. 2, BMW Roundabout, Salwa Industrial Area PO
Box 16122 Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1982 |
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Com. Reg. No.: |
9076, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Manufacture of snacks, biscuits and crisps. |
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No. of Employees : |
35 |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : QATAR FOOD FACTORIES CO WLL
Country of Origin : Qatar
Legal Form : With Limited Liability – WLL
Start Date : 1982
Registration Date : 1st January 1991
Commercial Registration Number : 9076, Doha
Industrial Licence Number : 3121
Membership Number : 235
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Total Workforce : 35
Activities : Manufacture of snacks, biscuits and crisps.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Saad Al Eidi, Finance Manager
COMPANY NAME
QATAR FOOD FACTORIES CO WLL
ADDRESS
Registered & Physical Address
Location : Gate No. 104,
Street No. 2, BMW Roundabout, Salwa Industrial Area
PO Box : 16122
Town : Doha
Country : Qatar
Telephone : (974) 44601540
/ 44601840
Facsimile : (974) 44601740
Email : qatarfood@qatar.net.qa
/ qatarfoodfactories@yahoo.com
Premises
Subject operates from a medium sized suite of offices and a factory with
warehousing that are owned and located in the Industrial Area of Doha.
KEY PRINCIPALS
Name Position
· Abdullah Mohamed
Ahmed Abu Mooza Managing
Director
· Khalid Mohamed
Ahmed Abu Mooza Director
· Abu Baker Abdul
Hamid Sales
Manager
· Saad Al Eidi Finance
Manager
· Jose Terronas Production
Manager
· Abu Abdul Hamid Purchasing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1982, however
subject was registered on 1st January 1991
Legal Form : With Limited
Liability - WLL
Commercial Reg.
No. : 9076, Doha
Industrial Licence
No. : 3121
Membership No. : 235
Issued Capital : QR 1,000,000
Paid up Capital : QR 1,000,000
Name of Shareholder (s)
· Abdullah Mohamed
Ahmed Abu Mooza
· Khalid Mohamed
Ahmed Abu Mooza
· Heirs of the late
Mohamed Ahmed Abu Mooza
OPERATIONS
Activities: Engaged in the manufacture of fried snacks, biscuits and crisps.
Import Countries: Germany, France and the United Kingdom.
Brand Names: QATAR PAFKI and BUFKI
Operating Trend: Steady
Subject has a workforce of 35 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales QR
3,625,000 QR
4,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Saad Al Eidi, Finance Manager
BANKERS
·
Qatar Islamic Bank
Al Khleej
Insurance Building
Grand Hamad Avenue
PO Box: 559
Doha
Tel: (974)
44409409
Fax: (974)
44412700
·
Al Ahli Bank of Qatar (QSC)
PO Box: 2309
Doha
Tel: (974) 44326611
Fax: (974) 44444652
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.35 |
|
|
1 |
Rs.80.50 |
|
Euro |
1 |
Rs.69.14 |
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 |
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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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.